Louis Navellier’s Top 15 Long-Term Stock Picks

6. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 68

Navellier & Associates’ Stake: $6.7 million

AbbVie Inc. (NYSE:ABBV) develops and markets pharmaceutical products. The following factors make AbbVie a prime investment opportunity. Firstly, its financial performance, as reported in the third quarter of 2024, portrays the company’s commitment to improving its worth. For instance, reported net revenues were $14.460 billion, an increase of 3.8% on a reported basis or 4.9% on an operational basis as compared to the previous year. This growth was driven by strong performance in the neuroscience segments and immunology. Second, the company’s acquisition of Aliada Therapeutics is another great factor, making AbbVie a great investment choice. This would help gain access to ALIA-1758, an efficient Alzheimer’s disease therapy, which will enhance AbbVie’s neuroscience pipeline and R&D capabilities. Moreover, the partnership of AbbVie and Simcere Zaiming to develop a novel tri-specific antibody candidate in multiple myeloma can serve as another attractive factor for investors. This collaboration will help the company expand its oncology portfolio and gain a notable position in the biopharmaceutical world.