Allergan Hits New 1-Year High Following Analyst Upgrade (AGN)
Shares of Allergan (NYSE:AGN) reached a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $115.00 to $130.00, Stock Ratings Network reports. The company traded as high as $124.93 and last traded at $122.66, with a volume of 2,084,246 shares traded. The stock had previously closed at $122.71.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse set a $140.00 price target on shares of Allergan in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Argus raised their price target on shares of Allergan from $110.00 to $130.00 in a research note on Friday, February 7th. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Allergan in a research note on Thursday, February 6th. They now have a $138.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $119.48.
The stock’s 50-day moving average is $115.2 and its 200-day moving average is $97.95. The company has a market cap of $36.563 billion and a price-to-earnings ratio of 37.64.
Allergan (NYSE:AGN) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.12 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.34 by $0.22. The company had revenue of $1.66 million for the quarter, compared to the consensus estimate of $1.65 million. During the same quarter in the previous year, the company posted $1.15 earnings per share. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, analysts predict that Allergan will post $5.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 21st. Investors of record on Friday, February 28th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Wednesday, February 26th.
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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