The pharmaceutical company reported Wednesday encouraging results from a hepatitis C treatment study that showed a cure rate of greater than 90% from a three-drug, all-oral regimen.
"In general, the results appear to make ABT competitive in the all-oral HCV space, however, the results are not flawless," Wells Fargo analysts wrote in a report Wednesday.Shares of Abbott Laboratories hit a 52-week high Wednesday of $62.57. The stock's 52-week low of $46.29 was set on Aug. 9. Abbott Laboratories has an estimated price-to-earnings ratio of 11.5 times; the average for pharmaceutical companies is 20.63. For comparison, Pfizer (PFE) has a lower forward P/E of 9.48;Johnson & Johnson's (JNJ) forward P/E is 12. Thirteen of the 26 analysts who cover Abbott Laboratories rated it hold. Twelve analysts gave the stock a buy rating and one rated it sell. TheStreet Ratings gives Abbott Laboratories an A grade with a buy rating and a $75.43 price target. The stock has risen 9.5% year to date.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV