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.