Top 10 Undervalued Blue Chip Stocks Analysts Recommend for Smart Investing

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6. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 87

AbbVie Inc. (NYSE:ABBV) is one of the top 10 undervalued blue chip stocks analysts recommend for smart investing. AbbVie Inc. (NYSE:ABBV) announced on May 29 authorization by the European Commission (EC) for an expanded label for VENCLYXTO® to include use in combination with acalabrutinib (with or without obinutuzumab), along with use in combination with ibrutinib to treat adult patients with previously untreated chronic lymphocytic leukemia (CLL). Management stated that the expanded label follows the EC’s inclusion of these combinations in the acalabrutinib and ibrutinib labels, with all-oral, fixed-duration combination regimens supporting the current standards of care. It added that they can also offer providers and patients additional targeted oral medications for CLL in the first-line setting that include the potential for time off treatment.

AbbVie Inc. (NYSE:ABBV) further clarified that the European Commission authorization extends to all European Union Member States, and includes Iceland, Norway, and Liechtenstein. Svetlana Kobina, MD, PhD, vice president, global medical affairs, oncology, AbbVie, stated that the VENCLYXTO-based combination regimens exhibited “a favorable efficacy and safety profile in the first-line setting for chronic lymphocytic leukemia”.

AbbVie Inc. (NYSE:ABBV) is a research-based pharmaceutical company that develops and sells products to treat chronic diseases in oncology, gastroenterology, rheumatology, dermatology, virology, and various other serious health conditions.

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