8 Most Undervalued Pot Stocks to Buy According to Analysts

6. Abbvie Inc (NYSE:ABBV)

Stock Upside Potential: 13.62%

Forward Price to Earnings Ratio (P/E): 15.27

Number of Hedge Fund Holders as of Q3 2024: 68

AbbVie Inc. (NYSE:ABBV) is a pharmaceutical giant that develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet’s diseases. Additionally, it is a big player in the cannabis sector with Marinol, its candidate cannabis drug that demonstrates the potential of cannabis as a therapeutic tool.

The drug also shows AbbVie Inc. (NYSE:ABBV)’s capacity to drive innovation with alternative treatments, which is more significant for the company’s stock. AbbVie has also filed for at least 59 cannabis-related patents in the United States. A cancer treatment, a treatment for juvenile idiopathic arthritis, and a cannabis treatment for skin conditions are among the active patents held by AbbVie involving cannabinoids.

Federal legalization of cannabis could encourage AbbVie Inc. (NYSE:ABBV) to use its vast infrastructure and resources to further invest in cannabinoid research.