Shares of Allergan plc. (AGN) Sees Large Outflow of Money

Allergan plc. (AGN): The stock had negative money flow to the tune of ($69.25 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $122.98 million, whereas, the outflow of money on downticks was $192.22 million and the ratio between the two was 0.64. The block trade had a negative net money flow of ($63.79 million). The total block trade value undertaken on upticks was $16.67 million. On the other hand, downticks amounted to $80.46 million of the traded value, which shows distribution in the stock by traders. The ratio between uptick and downtick was 0.21. Allergan plc. (AGN) closed with marginal gains of 431 cents to end the day at $246.95, an increase of 1.78% over the previous days close. The stock recorded 1.83% for the week.


Also, Piper Jaffray downgrades their rating on the shares of Allergan plc. (NYSE:AGN). The current rating of the shares is Neutral. Earlier, the shares were rated a Overweight by the brokerage firm. Equity Analysts at the Firm lowers the price target to $238 per share from $311 per share. The rating by the firm was issued on April 18, 2016.

Allergan plc. (NYSE:AGN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $244.00 and $243.55 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $247.44. The buying momentum continued till the end and the stock did not give up its gains. It closed at $246.95, notching a gain of 1.78% for the day. The total traded volume was 2,212,832 . The stock had closed at $242.64 on the previous day.

The stock has recorded a 20-day Moving Average of 4.98% and the 50-Day Moving Average is 5.21%. In a related news, Hilado Maria Teresa, CFO of Allergan Plc had purchased 661 shares on June 2, 2016 in a transaction. The price per share was $241.57 and the total amount of the disclosed transaction was $159,678.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

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