AbbVie stock is up 20% YTD: is it out of juice now?

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AbbVie Inc (NYSE: ABBV) is already up about 20% for the year but Boston Private’s Shannon Saccocia continues to see more upside in 2022.

AbbVie is a great way to play the healthcare space

Saccocia is bullish on the healthcare space at large and sees ABBV as the way to play it. Speaking with CNBC’s Scott Wapner, she said:

It’s a little bit further away from the binary nature of biotech. So, if you’re looking to increase your healthcare exposure, which I think you should in this environment, this is a great stock to own, a great way to play the healthcare space.

In its latest reported quarter, the biopharmaceutical giant noted a 7.4% year-over-year growth in its revenue.

Jon Najarian agrees with the bullish outlook

Among other notable shareholders that endorse owning AbbVie is MarketRebellion.com’s Jon Najarian. On the same CNBC interview, he said:

I like it. 3.5% dividend yield. So, you’re getting paid to wait. They’re presenting at several big conferences. Any good news could spike the stock. A lot of people that are working at AbbVie seem pretty bullish. So, I like the company.

In January, Mizuho’s Vamil Divan said the loss of Humira patent was unlikely to be a headwind for AbbVie. In fiscal Q4, Humira accounted for 38.4% of the company’s total revenue.

The post AbbVie stock is up 20% YTD: is it out of juice now? appeared first on Invezz.

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