Jim Lebenthal Likes AbbVie Stock At Its Current Price

It's a great time to invest in pharmaceutical companies such as AbbVie Inc (NYSE: 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 (NYSE: 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.