AbbVie Inc. (NYSE:ABBV): AbbVie Could be Under Selling Pressure On Earnings Concerns

 


AbbVie stock has been under selling pressure since last week after CEO Richard Gonzalez told analysts at the JPMorgan Healthcare Conference on Jan 11 that the company's performance could be affected near term due to the loss of exclusivity of Humira. He did not anticipate a decline in 2024 earnings, however, per CNBC.

Investors may get more clarity on forecasts for sales of the two Humira successor drugs, Skyrizi and Rinvoq, on Feb 9 when AbbVie reports its 4Q22 earnings result. Meanwhile, the stock could be heading down to retest $138.25.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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