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Watch for Continued Gains in Shares of AbbVie Inc. (ABBV)

Shares of AbbVie Inc. (NYSE:ABBV) traded today at $138.44, eclipsing its 12-month high. Approximately 3.7 million shares have changed hands today, as compared to an average 30-day volume of 7.5 million shares.

Over the past year, AbbVie Inc. has traded in a range of $101.86 to $138.44 and is now at $137.19, 35% above that low.

AbbVie is a drug company with a strong exposure to immunology and oncology. The company’s top drug, Humira, represents close to half of the company’s current profits. The company was spun off from Abbott in early 2013. The recent acquisition of Allergan adds several new drugs in aesthetics and women’s health.

AbbVie Inc. defies analysts with a current price ($137.19) 32.4% above its average consensus price target of $92.68.

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