Smart Money Is Betting Big In ABBV Options
Portfolio Pulse from Benzinga Insights
Smart money investors are showing a significant interest in AbbVie (NYSE:ABBV) options, with a bearish sentiment prevailing. Benzinga's tracking revealed a mix of bullish and bearish options activities, with a notable lean towards bearish positions (70%). The options activities suggest a targeted price range for ABBV between $70.0 and $180.0. Currently, ABBV's stock is down by -1.54%, trading at $163.42, with an RSI indicating it may be oversold. Analysts from Guggenheim and Barclays have given ABBV buy and overweight ratings, with target prices of $190 and $195, respectively.

April 12, 2024 | 2:04 pm
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NEUTRAL IMPACT
Significant bearish options activity detected in ABBV, with a price target range of $70-$180. Currently trading at $163.42, analysts remain bullish with target prices up to $195.
The bearish sentiment among smart money investors, indicated by the options activity, contrasts with the bullish analyst ratings and target prices. This divergence suggests uncertainty, but the analyst support and the current oversold RSI reading could mitigate short-term negative impacts, leading to a neutral outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100