Buy This Pharma Stock at a Discount – 1/14

Company: AbbVie (SYM: ABBV)

One of the most oversold pharmaceutical stocks to buy for the long haul is AbbVie (SYM: ABBV).

With a yield of 3.74%, AbbVie discovers, develops, manufactures, and sells pharmaceuticals worldwide.

It offers Humira, an injection for autoimmune and intestinal Behçet’s diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn’s disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn’s disease; Imbruvica for the treatment of adult patients with blood cancers. It also provides facial injectables, plastics and regenerative medicine, body contouring, and skincare products.

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Most recently, the company reported topline results from its Phase 3 study of tavapadon for the treatment of early Parkinson’s disease. 

Not only did the treatment meet its primary endpoint of showing statistically significant improvement from baseline compared to placebo in the Movement Disorder Society – Unified Parkinson’s Disease Rating Scale, but it also met its secondary endpoint showing statistically significant and clinically meaningful improvement in motor aspects of experiences of daily living in the tavapadon group compared to placebo, as noted in a recent AbbVie press release.

Even better, the company just increased its dividend to $1.64 from $1.55 per share, payable on February 14, 2025 to shareholders of record as of January 15, 2025. Since 2013, ABBV’s dividend has now been increased by about 310%. 

Plus, analysts at Piper Sandler just raised their price target on ABBV to $220 from $212 with an overweight rating. We also have to consider that ABBV is cheap, trading with a price to earnings growth (PEG) ratio of just 0.41x, which is down from 3.21x year over year.

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Earnings Haven’t Been Too Shabby Either

In its most recent quarter, AbbVie’s EPS of $3 beat by eight cents. Revenue of $14.46 billion, up 3.83% year over year, beat by $183.12 million. Skyrizi and Rinvoq revenues were up 50.8% year over year to $3.2 billion and 45.3% to $1.6 billion, respectively, during the quarter, with its immunology portfolio generating over $7 billion, up 3.9% year over year.

Meanwhile, the company’s arthritis treatment Humira dropped about 37.2% to $2.2 billion thanks to U.S. generic competition.

“We delivered another quarter of strong commercial execution and significant pipeline progress,” said Robert A. Michael, CEO, AbbVie, as quoted in the company’s earnings release.

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