SunTrust Upgrades Allergan to “Buy” (AGN)
Allergan (NYSE:AGN) was upgraded by equities researchers at SunTrust from a “neutral” rating to a “buy” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $150.00 target price on the stock, up from their previous target price of $94.00. SunTrust’s price target would suggest a potential upside of 24.84% from the stock’s previous close.
In other Allergan news, VP Scott Whitcup sold 42,000 shares of Allergan stock on the open market in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $117.80, for a total value of $4,947,600.00. Following the sale, the vice president now directly owns 17,327 shares of the company’s stock, valued at approximately $2,041,121. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Allergan (NYSE:AGN) traded up 0.28% during mid-day trading on Friday, hitting $120.15. The stock had a trading volume of 2,622,653 shares. Allergan has a 1-year low of $81.33 and a 1-year high of $123.83. The stock’s 50-day moving average is $106.5 and its 200-day moving average is $94.69. The company has a market cap of $35.704 billion and a price-to-earnings ratio of 36.32.
Allergan (NYSE:AGN) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.20 by $0.03. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company posted $1.06 earnings per share. Allergan’s revenue was up 13.3% compared to the same quarter last year. On average, analysts predict that Allergan will post $4.76 earnings per share for the current fiscal year.
A number of other firms have also recently commented on AGN. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Allergan in a research note to investors on Wednesday. They now have a $94.00 price target on the stock. Separately, analysts at Susquehanna set a $145.00 price target on shares of Allergan in a research note to investors on Wednesday. Finally, analysts at Argus raised their price target on shares of Allergan from $110.00 to $125.00 in a research note to investors on Wednesday, January 8th. They now have a “buy” rating on the stock. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $116.08.
Allergan, Inc, is a multi-specialty health care company focused on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products.
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