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NEW YORK (TheStreet) -- AbbVie (ABBV) - Get Free Report stock is higher by 9.98% to $59.50 in mid-morning trading on Friday, following the company's 2015 third quarter earnings results. 

The biopharmaceutical company posted earnings of $1.13 per share for the most recent quarter, higher than 89 cents per share for the year ago period. 

Revenue grew by 26% year over year, to $5.94 billion from $5.02 billion in the 2014 third quarter.

AbbVie had been forecast to report earnings of $1.08 per share on revenue of $5.89 billion by analysts surveyed by Thomson Reuters.

The company raised its 2015 full-year guidance to a range between $4.26 per share and $4.28 per share, up from the prior range between $4.10 per share and $4.30 per share.

"We are pleased with our outperformance in the third quarter and our progress year-to-date. We've driven strong commercial, operational and R&D execution, resulting in industry-leading top- and bottom-line performance," CEO Richard A. Gonzalez said in a statement.

Separately, TheStreet Ratings team rates ABBVIE INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

We rate ABBVIE INC (ABBV) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and generally higher debt management risk.

You can view the full analysis from the report here: ABBV

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