Jim Lebenthal Likes AbbVie Stock At Its Current Price

It's a great time to invest in pharmaceutical companies such as AbbVie Inc ABBV, Cerity Partners' Jim Lebenthal shared Wednesday on CNBC's "Fast Money Halftime Report."

Lebenthal told CNBC that he is slowly building the pharmaceutical portion of his portfolio. AbbVie is a great franchise currently trading at a good valuation, Lebenthal said.

Recently, he added Bristol-Myers Squibb Company BMY to his portfolio.

AbbVie announced today it will report its second-quarter financial results on July 30 before the market opens. 

See Also: AbbVie Publishes Study Titled 'To Investigate the Safety and Pharmacokinetics of ABBV-CLS-7262 in Patients With Amyotrophic Lateral Sclerosis'

ABBV Price Action: AbbVie has traded as high as $118.28 and as low as $79.11 over a 52-week period.

At last check Wednesday, the stock was up 0.57% at $116.46.

Photo: Courtesy of AbbVie.

Posted In: Cerity PartnersCNBCFast Money Halftime ReportJim LebenthalPharmaceuticalpharmaceutical stocksLong IdeasHealth CareTrading IdeasGeneral