Pharmaceutical company AbbVie (NYSE:ABBV) announced that it has closed the acquisition of ImmunoGen. The firm expects the deal to be accretive to its diluted EPS beginning in 2027. The company reaffirmed its FY24 adjusted diluted earnings guidance of $11.05 to $11.25 per share. However, AbbVie lowered its first-quarter earnings guidance to between $2.26 and $2.30 per share from its prior outlook of $2.30 to $2.34 per share.
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This reflects a $0.04 per share dilutive impact from the ImmunoGen acquisition. This outlook excludes the impact of acquired intellectual property rights and milestone payments due to their unpredictable nature.
Is ABBV Stock a Buy or Sell?
Analysts remain cautiously optimistic about ABBV stock with a Moderate Buy consensus rating based on 12 Buys and six Holds. Over the past year, ABBV stock has gone up by more than 15%, and the average ABBV price target of $178.69 implies an upside potential of 2.6% at current levels.
