Allergan Rises On Unusually High Volume (AGN)

NEW YORK ( TheStreet) -- Allergan (NYSE: AGN) is trading at unusually high volume Wednesday with 6.8 million shares changing hands. It is currently at four times its average daily volume and trading up $5.23 (+6.4%) at $87.30 as of 12:50 p.m. ET.

Allergan has a market cap of $25.89 billion and is part of the health care sector and drugs industry. Shares are down 2.8% year to date as of the close of trading on Tuesday.

Allergan, Inc. operates as a multi-specialty healthcare company primarily in the United States, Europe, Latin America, and the Asia Pacific. The company has a P/E ratio of 26.3, equal to the average drugs industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Allergan as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Allergan Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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