15 Best Large-Cap Value Stocks to Buy as the Recession Hits

6. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 85

Forward P/E as of April 15: ~14.62x

AbbVie Inc. (NYSE:ABBV) is a research-based biopharmaceutical company, that is engaged in the research and development, manufacture, commercialization, and sale of medicines and therapies. Erste Group upped the company’s stock from “Hold” to “Buy,” noting its strong sales growth forecast and promising pipeline of new products. AbbVie Inc. (NYSE:ABBV) has reaffirmed expectations for a high single-digit compound annual revenue growth rate through 2029 and raised the 2027 combined sales outlook for Skyrizi and Rinvoq to over $31 billion. The company’s financial position seems to be strengthening, and its strategic emphasis on expanding the product portfolio can contribute to sustained growth and profitability.

AbbVie Inc. (NYSE:ABBV)’s strong pipeline, strengthened by strategic acquisitions, places it well for long-term success. The successful development and commercialization of pipeline assets can diversify its revenue streams and fuel significant value creation. The company has updated its outlook for aesthetics to deliver a high single-digit compound annual revenue growth rate from 2025 through 2029. The company has announced that it completed the acquisition of Aliada Therapeutics. The transaction cements AbbVie Inc. (NYSE:ABBV)’s neuroscience pipeline and R&D capabilities with the addition of a potential best-in-class disease-modifying therapy for Alzheimer’s disease (AD), ALIA-1758, and novel blood-brain barrier (BBB)-crossing technology.

Polaris Capital Management, an investment management company, released its Q3 2024 investor letter. Here is what the fund said:

“U.S. biopharma/biotech companies topped the health care sector, with the majority of holdings posting returns in excess of 10%. AbbVie Inc. (NYSE:ABBV) showed positive top-line growth from its immunosuppressive drugs, Skyrizi and Rinvoq. Abbvie’s management continues to work through the loss of exclusivity from Humira, switching patients to Skyrizi or Rinvoq rather than Humira biosimilars.”