AbbVie Inc. (NYSE: ABBV) is trading lower today, but the big pharma giant remains near multi-year highs as investors digest a powerful mix of good news (a major FDA approval, strong Q3 numbers) and growing policy headwinds from U.S. Medicare drug price cuts.
Below is a full wrap-up of what’s happening with AbbVie stock today, November 26, 2025, and the key headlines driving sentiment.
AbbVie (ABBV) stock price today: mild pullback after strong run
As of early afternoon U.S. trading on Wednesday, AbbVie stock is changing hands around $227.41, down about 1.9% on the day. The shares opened at $232.04, hit an intraday high of $232.65 and a low of $227.04, on volume of roughly 2.5 million shares so far.
Despite today’s pullback, AbbVie remains close to its recent highs:
- Over the last three months, ABBV is up about 11.7%, beating the Nasdaq Composite’s 7.4% gain. [1]
- Year to date, AbbVie has climbed roughly 30–31%, outpacing both the broader drug industry and the tech-heavy Nasdaq. [2]
- The stock’s 52‑week high is $244.81 (hit on October 1, 2025), and its 52‑week low is $164.39, according to MarketBeat data. [3]
Technically, ABBV is still trading above its 50‑day and 200‑day moving averages, reinforcing a longer‑term bullish trend even as the stock consolidates below its recent peak. [4]
Why AbbVie stock is under pressure today
Today’s modest decline looks less like a change in trend and more like profit‑taking and policy risk repricing after a big run. Several overlapping storylines are in play:
- Valuation has expanded
- Zacks estimates AbbVie’s forward P/E around 16.5, above its five‑year average of 13.4, though still a bit below the broader large‑cap pharma industry’s valuation. [5]
- Simply Wall St pegs the average analyst fair value near $243.55 per share (about 4–5% above recent prices) and its own discounted cash‑flow (DCF) estimate at $429 per share, implying a much larger long‑term upside if growth plays out. [6]
- Drug‑pricing headlines are back in focus
New Medicare price cuts (detailed below) target two AbbVie drugs: Vraylar and Linzess, adding to concerns that U.S. pricing power will be squeezed over the next few years. [7] - Short‑term sentiment is wobbling even as fundamentals remain strong
Options and analyst data suggest overall optimism, but after a 30%+ YTD move, investors are more sensitive to any hint of regulatory or earnings risk. [8]
Fresh catalyst: FDA approval of EPKINLY combo therapy in follicular lymphoma
One of the biggest recent positives for AbbVie – and a core part of today’s narrative – is a new U.S. FDA approval for cancer drug EPKINLY (epcoritamab‑bysp).
On November 18, 2025, AbbVie announced that the FDA approved EPKINLY in combination with rituximab and lenalidomide (EPKINLY + R²) for adult patients with relapsed or refractory follicular lymphoma (FL) after at least one line of systemic therapy. [9]
Key points from the approval:
- First and only bispecific antibody combination therapy available for relapsed or refractory follicular lymphoma in this setting. [10]
- Based on the Phase 3 EPCORE FL‑1 trial:
- This is the third indication for EPKINLY and the first‑ever FDA approval for a bispecific combination therapy in lymphoma, further entrenching AbbVie in high‑value hematology niches. [13]
Investors are already thinking about what this means for valuation:
- Simply Wall St notes that after this “landmark” approval, analysts’ consensus fair value of $243.55 implies AbbVie is modestly undervalued, and its own DCF model suggests the stock might be trading at nearly a 46% discount to intrinsic value. [14]
In short, the EPKINLY combo approval strengthens AbbVie’s oncology franchise and provides another non‑Humira source of growth – a key part of the long‑term bull case.
Policy overhang: Medicare slashes prices on Vraylar and Linzess
Balancing the good news, markets are watching drug‑pricing reforms very closely.
Today, the U.S. Centers for Medicare & Medicaid Services (CMS) released final negotiated prices for the second round of drugs under the Inflation Reduction Act (IRA), with new prices taking effect in 2027. [15]
Among the 15 drugs on the list, two belong to AbbVie:
- Vraylar (cariprazine) – antipsychotic used for bipolar I disorder, major depressive disorder and schizophrenia
- Monthly price cut from $1,376 to $770, a reduction of about 44%. [16]
- Linzess (Linzess/Linzess co‑promote) – for irritable bowel syndrome with constipation
- Monthly price cut from $539 to $136, a roughly 75%+ reduction in the list price. [17]
Overall, CMS says the 15‑drug package features discounts of 38–85% and is expected to cut Medicare’s costs for these medicines by 44%, or around $12 billion per year. [18]
Why it matters for ABBV:
- Vraylar is a core driver of AbbVie’s neuroscience segment, which grew over 20% year over year in the first nine months of 2025, partly on the back of Vraylar and migraine drugs Ubrelvy and Qulipta. [19]
- These price cuts don’t begin until 2027, and Medicare is only part of the market, but investors are starting to model lower long‑term U.S. pricing power for these products.
AbbVie previously told investors that earlier IRA‑driven price cuts (including on cancer drug Imbruvica) would not alter its long‑term guidance, but the cumulative effect of multiple waves of negotiation remains a key medium‑term risk to monitor. [20]
Q3 2025 earnings: immunology engines offset Humira and aesthetics
Today’s trading action also sits on top of very strong Q3 2025 fundamentals, reported on October 31:
- Worldwide net revenues:$15.776 billion, up 9.1% year over year. [21]
- Adjusted EPS:$1.86, beating Wall Street’s $1.77 consensus. [22]
- AbbVie raised its full‑year 2025 adjusted EPS guidance to $10.61–$10.65 (from $10.38–$10.58), despite heavy R&D and milestone expenses. [23]
The big story remains AbbVie’s “immunology dyad” of Skyrizi and Rinvoq:
- Immunology portfolio revenue:$7.885 billion, up 11.9%. [24]
- Skyrizi: $4.708 billion, up about 47% year over year. [25]
- Rinvoq: $2.184 billion, up about 35%. [26]
- Combined, the pair generated nearly $7 billion in the quarter alone, nearly half of AbbVie’s total revenue. [27]
At the same time:
- Humira revenues fell to $993 million, down over 55% year over year as biosimilar competition intensifies. [28]
- Oncology portfolio revenue was $1.682 billion, down slightly, as growth from newer drugs like Elahere, Venclexta and EPKINLY offset pressure on Imbruvica. [29]
- Aesthetics (including Botox Cosmetic and Juvederm) revenue declined 3–4%, reflecting softer consumer demand and macro headwinds, a key concern highlighted by analysts. [30]
Management also announced:
- A 5.5% dividend increase, raising the quarterly payout from $1.64 to $1.73 per share starting with the February 17, 2026 dividend. At current prices, that implies a dividend yield around 3%. [31]
- Ongoing U.S. capital investments, including a $195 million active pharmaceutical ingredient facility in North Chicago and a $70 million biologics expansion in Worcester, Massachusetts, part of a >$10 billion U.S. investment plan. [32]
Overall, Q3 confirmed that Skyrizi and Rinvoq are more than offsetting Humira’s erosion, and AbbVie expects to return to mid‑single‑digit revenue growth in 2025 with a high single‑digit CAGR out to 2029, supported by a broad late‑stage pipeline and limited patent cliffs for the rest of the decade. [33]
Options market: bullish bias beneath today’s dip
Today’s derivatives trading paints a subtle but important picture of sentiment.
According to AInvest’s options analytics:
- ABBV shares around $227.75 are down about 1.75% today, but
- There is heavy call open interest at the $235 and $240 strikes for the November 28 expiry,
- And the put/call ratio sits at 0.76, indicating more call activity than puts. [34]
Analysts of the options flow highlight:
- Support near $228 – a level traders are watching as a potential springboard for a rebound.
- A longer‑term 200‑day moving average around $203–204 as a key downside “floor” for bulls. [35]
While the AInvest article goes on to suggest specific option trades for speculative investors, the core takeaway is that professional money appears to be positioning for further upside, even as the stock takes a breather today.
As always, options are complex and risky; this activity is not a guarantee of future price direction, but it underscores that recent FDA wins and strong fundamentals are still attracting bullish speculation. [36]
Institutional flows and dividend story support the bull case
Several new filings and research notes out today underscore continued institutional support for ABBV:
- Te Ahumairangi Investment Management Ltd increased its AbbVie stake by 15.5% in Q2, to 23,830 shares valued at about $4.4 million, according to a fresh MarketBeat summary. [37]
- A separate MarketBeat alert notes that Russell Investments Group Ltd and other institutions have also lifted their positions, and that institutional investors collectively own about 70% of AbbVie’s shares outstanding. [38]
On the income side:
- The new $1.73 quarterly dividend (payable February 2026) implies an annual payout of $6.92 per share and about a 3% yield, reinforcing AbbVie’s status as a dividend aristocrat in the large‑cap pharma space. [39]
Combined with the raised EPS guidance, these developments signal confidence from both management and long‑term investors that the post‑Humira transition is on track.
Smaller but notable headlines involving AbbVie today
Several additional news items from November 26, 2025 round out the picture:
- CollPlant milestone payment and collaboration focus
- Israeli biotech CollPlant reported Q3 results, highlighting $2.3 million in nine‑month revenue, driven largely by a $2 million milestone payment from AbbVie related to their regenerative aesthetics collaboration (rhCollagen‑based dermal fillers). [40]
- CollPlant is prioritizing its AbbVie partnership and dermal filler program for 2026, while cutting its workforce by about 25% to extend cash runway. [41]
This underscores AbbVie’s efforts to expand its aesthetics and regenerative medicine footprint, even as near‑term aesthetics revenue has softened.
- AbbVie Biotech Innovators Award in Quebec
- AbbVie Canada and adMare BioInnovations launched the “AbbVie Biotech Innovators Award”, offering one early‑stage startup a year of free lab and office space at Montreal’s adMare Innovation Centre plus mentorship from AbbVie executives. Applications run through February 20, 2026. [42]
- While not immediately material to earnings, it reinforces AbbVie’s external innovation strategy and presence in North American biotech ecosystems.
- Media and valuation coverage
- Barchart and Yahoo Finance highlight AbbVie’s 30%+ YTD gain and outperformance versus the Nasdaq, with a consensus “Moderate Buy” rating and an average price target around $244–245 per share, implying mid‑single‑digit upside from current levels. [43]
- Zacks/Nasdaq compare AbbVie to Pfizer, noting that ABBV’s 2025 sales and EPS are expected to grow 8.1% and 5.1% year over year, respectively, and emphasizing AbbVie’s strong post‑Humira growth trajectory. [44]
How analysts and models see AbbVie now
Putting the major voices together:
- Growth outlook
- Valuation
- Forward P/E ~16.5, above AbbVie’s historical average but below some high‑growth peers and only slightly under the broader big‑pharma group. [47]
- Analyst price targets center around $242–245, with Barchart citing a mean target of $244.54 and MarketBeat at $241.85. [48]
- Simply Wall St’s DCF model is much more aggressive, putting fair value at $429 per share, though DCF assumptions can vary widely. [49]
- Ratings
- Across houses, AbbVie typically carries a “Moderate Buy” or equivalent rating, with a mix of Buy and Hold calls and very few outright Sells. [50]
Altogether, the Street seems to view AbbVie as a high‑quality, dividend‑paying pharma leader that has successfully managed the Humira patent cliff and still has room for moderate upside, albeit with increasing attention on U.S. drug‑pricing policy and aesthetics volatility.
Key risks for ABBV investors to watch
Even with strong fundamentals, today’s news flow highlights several ongoing risks:
- Drug‑pricing reform (IRA & Medicare negotiations)
Multiple AbbVie products – now including Vraylar and Linzess – face steep price cuts starting in 2027, and future negotiation cycles could pull in additional drugs. [51] - Erosion of legacy blockbusters
- Aesthetics cyclicality
Weakness in Botox and fillers shows that consumer‑facing cash‑pay businesses can be sensitive to macro conditions, which could pressure margins if growth remains below expectations. [54] - Execution on pipeline and M&A
AbbVie has executed 30+ business development deals since early 2024, from CAR‑T (Capstan) to obesity candidates and psychedelics, and must now translate that deal activity into durable revenue and earnings growth. [55]
Bottom line: what today’s moves mean for AbbVie stock
On November 26, 2025, AbbVie stock is taking a modest breather, trading around $227–228 and down roughly 2% on the day. But under the surface, the story remains nuanced:
- Bullish forces
- A major FDA win for the EPKINLY + R² regimen in follicular lymphoma, bolstering AbbVie’s oncology pipeline. [56]
- Continued surge in Skyrizi and Rinvoq sales that more than offset Humira’s decline. [57]
- Raised earnings guidance, a dividend increase, and strong institutional and options‑market interest. [58]
- Bearish / cautionary forces
For now, AbbVie looks like a large, diversified, cash‑generating pharma leader in mid‑transition: the market is weighing excellent pipeline execution and robust dividend growth against a more challenging pricing and competitive landscape.
References
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