Allergan Sees Significant Drop in Short Interest (AGN)
Shares of Allergan (NYSE:AGN) were the recipient of a large decline in short interest in June. As of June 13th, there was short interest totalling 2,197,799 shares, a decline of 37.5% from the May 30th total of 3,516,254 shares, Stock Ratings Network reports. Currently, 0.7% of the company’s stock are sold short. Based on an average daily volume of 3,340,633 shares, the short-interest ratio is currently 0.7 days.
A number of analysts have recently weighed in on AGN shares. Analysts at Credit Suisse downgraded shares of Allergan from an “outperform” rating to a “neutral” rating in a research note on Tuesday, June 3rd. They now have a $190.00 price target on the stock. Separately, analysts at Buckingham Research upgraded shares of Allergan from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 27th. Finally, analysts at Zacks upgraded shares of Allergan from a “neutral” rating to an “outperform” rating in a research note on Monday, May 26th. They now have a $200.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $152.58.
Shares of Allergan (NYSE:AGN) opened at 165.20 on Thursday. Allergan has a 52-week low of $86.95 and a 52-week high of $174.49. The stock’s 50-day moving average is $165.2 and its 200-day moving average is $139.0. The company has a market cap of $49.156 billion and a P/E ratio of 40.76.
Allergan (NYSE:AGN) last released its earnings data on Wednesday, May 7th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.05. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts predict that Allergan will post $5.70 earnings per share for the current fiscal year.
Allergan, Inc is a multi-specialty health care Company focused on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.