Allergan Still Climbing
<i> Dow Jones</i>
Shares of Allergan Inc. climbed Thursday for the second consecutive day, following positive comments about the Irvine pharmaceutical company by Wall Street analysts.
Merrill Lynch said the company’s fundamentals “remain on an upswing.” On Wednesday, Donaldson Lufkin initiated coverage of the company with a buy rating.
Allergan’s shares rose 9.5%, or $4.63, Thursday to $53.50 in active trading. A total of 591,600 shares changed hands, more than double the stock’s average daily volume over the last three months. On Wednesday, the shares gained 5%.
