The shares of AbbVie Inc. (NYSE:ABBV) dropped by -29.83% or -$37.55 from its last recorded high of $125.86 which it attained on January 26 to close at $88.31 per share. Over the past 52 weeks, the shares of AbbVie Inc. has been trading as low as $77.5 before witnessing a massive surge by 13.95% or $10.81. This price movement has led to the ABBV stock receiving more attention and has become one to watch out for. It jumped by 0.12% on Sunday and this got the market excited. The stock’s beta now stands at 1.39 and when compared to its 200-day moving average and its 50-day moving average, ABBV price stands -5.39% below and 1.17% above respectively. Its average daily volatility for this week is 2.25% which is less than the 3.24% recorded over the past month.
AbbVie Inc. (ABBV) sank -0.85% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a drop that has seen it decline -11.42% and is now down by -4.21% since start of this year. A look at its monthly performance shows that the stock has recorded a 0.16% gain over the past 30 days. Its equity price dipped by -5.12% over the past three months which led to its overall six-month decrease to stand at -7.64%.
Experts from research firms are bullish about the near-term performance of AbbVie Inc. with most of them predicting a $99.28 price target on a short-term (12 months) basis. The average price target by the analysts will see a 12.42% rise in the stock and would lead to ABBV’s market cap to surge to $148.92B. The stock has been rated an average 2.7, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 19 analysts that track AbbVie Inc. (NYSE:ABBV) and find out that 9 of them rated it as a Hold. 7 of the 10 analysts rated it as a Buy or a Strong Buy while 3 advised investors to desist from buying the stock or sell it if they already possess it.
A look at ABBV technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 49.75 point. Its trading volume has lost -1868631 shares compared to readings over the past three months as it recently exchanged 5311369 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 7180000 shares, and this is 0.74 times the normal volume.
Analysts have predicted a price target for Equitrans Midstream Corporation (ETRN) for 1 year and it stands at an average $25.75/share. This means that it would likely increase by 22.56% from its current position. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $23. On the other hand, one analyst is super bullish about the price, setting a target as high as $27.