Allergan plc (AGN) Moves Higher on Volume Spike for November 15

Allergan plc (AGN) Moves Higher on Volume Spike for November 15

Allergan plc (AGN) traded on unusually high volume on Nov. 15, as the stock gained 1.05% to close at $159.37. On the day, Allergan plc saw 3.98 million shares trade hands on 37,020 trades. Considering that the stock averages only a daily volume of 2.2 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $197.00 and $142.81 over the last 52-weeks, its 50-day SMA is now $181.35, and its 200-day SMA $169.59. Allergan plc has a P/B ratio of 0.76. It also has a P/E ratio of 24.8.

Allergan PLC is a specialty pharmaceutical company engaged in the development, manufacturing, marketing, and distribution of brand name pharmaceutical products, medical aesthetics, biosimilar and OTC pharmaceutical products.

Headquartered in Dublin, , Allergan plc has 17,800 employees and is currently under the leadership of CEO Brenton L. Saunders.

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