The 13% drop offers a decent entry point to this market leader, but some major risks mustn't be ignored. As of this writing, he did not hold a position in any of the aforementioned securities. This is due to AbbVie’s acquisition of Allergan back in May. ABBV stock was down about 2% as of Friday morning. All rights reserved. Zacks Nasdaq Cumulative Growth of a $10,000 Investment in Stock Advisor, This Explains Why AbbVie Is Falling Today @themotleyfool #stocks $ABBV, These 3 Value Stocks are Absurdly Cheap Right Now, 3 Top Dividend Stocks With Yields Over 5%, 4 Reasons AbbVie Is More Attractive Than You Think, 3 Stocks to Buy Ahead of the Next Market Crash, Copyright, Trademark and Patent Information. That’s after reporting adjusted earnings per share (EPS) of … Let's conquer your financial goals together...faster. Article printed from InvestorPlace Media, https://investorplace.com/2020/07/abbvie-earnings-abbv-stock-drops-2-despite-q2-beats/. The company’s stock... Community Health Systems Inc. (NYSE:CYH) went up by 6.01% from its latest closing price compared to the recent 1-year high of $7.47. The company’s stock price... Dynatrace Inc. (NYSE:DT) went down by -0.48% from its latest closing price compared to the recent 1-year high of $48.85. Can BioMarin Pharmaceutical Inc. (BMRN) Remain Competitive? That’s after reporting adjusted earnings per share (EPS) of $2.34, which is better than Wall Street’s estimate of $2.19. ABBV Stock Insider Trading. After this action, Rushing now owns 114,899 shares of AbbVie Inc., valued at $5,332,555 with the latest closing price. 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After the biotech giant's disappointing update on an important experimental cancer drug, shares of AbbVie (NYSE:ABBV) fell as much as 12% in early morning trading on Thursday. The adverse impact from COVID-19 on legacy AbbVie was less than expected, demonstrating the robustness and resiliency of our key brands, and new patient starts have stabilized and started to recover. 1125 N. Charles St, Baltimore, MD 21201. Richard Gonzalez, chairman and CEO of AbbVie, said this in the Q2 earnings report: “AbbVie delivered another strong quarterly performance, ahead of our guidance. All rights reserved. You’ll get the name & ticker of Matt McCall’s top pick when you tune in to his FREE event. Shares were down 11% as of 10:35 a.m. EDT. Wells Fargo & Co. (WFC) plunged up... BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) went down by -1.42% from its latest closing price compared to the recent 1-year... SailPoint Technologies Holdings Inc. (NYSE:SAIL) went down by -2.04% from its latest closing price compared to the recent 1-year high of $48.13. That also looks bad next to its net income of $741 million from the same period of the year prior. See you at the top! The company’s stock... Union Pacific Corporation (NYSE:UNP) went up by 1.95% from its latest closing price compared to the recent 1-year high of $208.82. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Brian Feroldi has been covering the healthcare and technology industries for The Motley Fool since 2015. Shares of AbbVie Inc. , a big U.S. pharma, dropped 18.3% in March, according to data from S&P Global Market Intelligence. AbbVie (NYSE:ABBV) earnings for second quarter of fiscal year 2020 have ABBV stock dropping on Friday. While the press release was light on details, AbbVie did say that the data from the trial was not strong enough for the company to seek accelerated approval. Why AbbVie (ABBV) Stock Is Down Today. ABBV. Brian's investing strategy is to buy high-quality companies and then let compounding work its magic. AbbVie previously said it expects its adjusted EPS to be between $9.61 and $9.71 for FY2020. What's more, the safety data from this phase 2 study was consistent with previous studies, which is good news. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Returns as of 10/16/2020. The company’s stock... Sabra Health Care REIT Inc. (NASDAQ:SBRA) went up by 3.08% from its latest closing price compared to the recent 1-year high of $24.95. quotes delayed at least 15 minutes, all others at least 20 minutes. Here's the commentary that AbbVie's chief scientific officer Dr. Mike Severino offered investors: We continue to believe Rova-T has potential for patients with small cell lung cancer and other DLL3-expressing cancers. The Man Who Recommended 23 1,000% Winners Is Revealing His #1 Stock for 2020. The company’s stock price... Everi Holdings Inc. (NYSE:EVRI) went up by 0.66% from its latest closing price compared to the recent 1-year high of $14.88. The company’s stock... MobileIron Inc. (NASDAQ:MOBL) went up by 0.29% from its latest closing price compared to the recent 1-year high of $7.30. Here are some additional highlights from the most recent AbbVie earnings report. Additionally, AbbVie announced GAAP losses per share of 46 cents for the quarter. Operating income of $752 million is a bit of a negative switch year-over-year from $3.4 billion. Copyright © The integration of Allergan is going well, with a strong recovery in the aesthetics portfolio and accretion ahead of expectations.”. The drug in question is called rovalpituzumab tesirine, which goes by the nickname Rova-T. AbbVie shared a little bit of data from a phase 2 trial today that was studying Rova-T as a third-line treatment for relapsed/refractory small-cell lung cancer. Thankfully, Rova-T is still being studied in two phase 3 studies that are investigating the drug a first- and second-line treatment for lung cancer. We Know the Answer, Why MobileIron Inc. (MOBL)’s Most Recent Report Reveals Some Hints About Its Future, We Analyzed the Future Direction of Dynatrace Inc. (DT), Here is What We Found, Union Pacific Corporation (UNP) upgraded Issued by Wall Street Gurus, Range Resources Corporation (RRC) and the Battle of Fundamentals vs. Technicals, Here’s How Your Trade CYH Aggressively Right Now, Highlights from the Ratings and Financial Report for Slack Technologies Inc. (WORK), A Lesson to Learn: Murphy Oil Corporation (MUR), Here’s Our Rant About Sabra Health Care REIT Inc. (SBRA), Riding the Trend or Protecting Profits | PagerDuty Inc. (PD), Why TherapeuticsMD Inc. (TXMD) Is in Such attractive Condition, The Chart for Consolidated Edison Inc. (ED) Is Flashing Mixed Signals, Is a Correction Looming Ahead for Kadmon Holdings Inc. (KDMN). Splunk Inc. (SPLK): Skating on Thin Ice? The AbbVie earnings report also includes a net loss of $739 million. The company’s stock price... Consolidated Edison Inc. (NYSE:ED) went down by -0.61% from its latest closing price compared to the recent 1-year high of $95.10. Also, the company’s revenue of $10.43 billion comes in above analysts’ estimate of $10.08 billion for the period. The... PagerDuty Inc. (NYSE:PD) went down by -1.04% from its latest closing price compared to the recent 1-year high of $37.24. Cumulative Growth of a $10,000 Investment in Stock Advisor Calculated by Time-Weighted Return. That's when the stock dropped 14% … Humira currently accounts for about two-thirds of AbbVie's total sales so it's critical for the company to develop other blockbuster drugs to better diversify its revenue stream. Why Abbvie Is Down 5% in 2018 So Far ... By Nov. 1, 2018, AbbVie stock had fallen 35% from its peak earlier in the year and at recent prices, it's given up just 5.4% so far in 2018. If Rova-T winds up as a clinical failure, then money will have been wasted.