Here’s What To Look For In AbbVie Inc (ABBV) Heading Into Earnings: Evercore ISI


Evercore ISI analyst Mark Schoenebaum weighed in today with his views on AbbVie Inc (NYSE:ABBV), as the company is scheduled to report its second-quarter earnings results on Friday, July 24, before the market opens and host a conference call at 9 am ET. The analyst rates AbbVie stock a Buy with a price target of $70.

Schoenebaum stated, “We expect that the focus of ABBV’s 2Q call will center on the digestion of PCYC, the acquisition of which ABBV closed on May 26. As a result, we expect investors will look for updated FY 2015 guidance, and management’s updated thoughts on the possibility of an analyst meeting in the summer/fall time frame. In addition, a key focus for investors on the call will be 2Q Imbruvica sales.”

Furthermore, “We believe that JNJ’s recently reported 2Q US Imbruvica revenue of $89 M translates to roughly ~$238 M in US net sales – this number appears roughly in-line with what IMS TRx appear to be tracking (2Q US net sales of ~$235-240 M), as well as current consensus (caveat that we don’t have a clear consensus for 2Q due to ABBV/PCYC transaction).”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mark Schoenebaum has a total average return of 23.4% and a 87.5% success rate. Schoenebaum has a average return when recommending ABBV, and is ranked #1058 out of 3713 analysts.

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  • CoBillR

    Mark, what is the 2q15 revenue estimate for Viekira Pak? Wasn’t this the next momentum driver to decrease the reliance on Humira?

    What about the R. Gonzalez Jan2015 statement >> HCV VPak should track $3B/yr= $750M/qtr. Your estimate was a $2.8B/yr= $700M/qtr.

    Do you still have a strong conviction that VPak will deliver $700M this quarter, 26 weeks into launch?

  • CoBillR

    Mark, what is the 2q15 revenue estimate for Viekira Pak? Wasn’t this the next momentum driver to decrease the reliance on Humira?

    What about the R. Gonzalez Jan2015 statement >> HCV VPak should track $3B/yr= $750M/qtr. Your estimate was a $2.8B/yr= $700M/qtr.

    Do you still have a strong conviction that VPak will deliver $700M this quarter, 26 weeks into launch?