Allergan PLC (AGN) Given a $294.00 Price Target at Bank of America Corp.
Allergan PLC (NYSE:AGN) has been given a $294.00 price objective by research analysts at Bank of America Corp. in a research report issued to clients and investors on Tuesday. The firm presently has a a “buy” rating on the stock. Bank of America Corp.’s target price suggests a potential upside of 23.18% from the company’s current price.
A number of other equities analysts have also recently weighed in on the stock. Cantor Fitzgerald cut shares of Allergan PLC from a “buy” rating to a “hold” rating in a research note on Wednesday. Mizuho reaffirmed a “buy” rating and set a $305.00 price target on shares of Allergan PLC in a research note on Wednesday, September 14th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Allergan PLC in a research note on Monday, September 12th. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $227.00 price target on shares of Allergan PLC in a research note on Tuesday, August 30th. Finally, Vetr raised shares of Allergan PLC from a “buy” rating to a “strong-buy” rating and set a $288.87 price target on the stock in a research note on Monday, August 22nd. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $308.54.
Shares of Allergan PLC (NYSE:AGN) traded down 0.149% during trading on Tuesday, reaching $238.315. 2,840,673 shares of the company’s stock were exchanged. Allergan PLC has a 52 week low of $195.50 and a 52 week high of $322.68. The stock has a market capitalization of $94.36 billion, a price-to-earnings ratio of 22.690 and a beta of 0.73. The stock has a 50 day moving average price of $245.54 and a 200-day moving average price of $243.04.
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Allergan PLC (NYSE:AGN) last posted its quarterly earnings results on Monday, August 8th. The company reported $3.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.34 by $0.01. Allergan PLC had a net margin of 28.06% and a return on equity of 7.67%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the prior year, the company posted $4.41 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts predict that Allergan PLC will post $14.01 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of AGN. Capstone Asset Management Co. increased its stake in shares of Allergan PLC by 0.6% in the first quarter. Capstone Asset Management Co. now owns 14,787 shares of the company’s stock valued at $3,963,000 after buying an additional 86 shares during the period. Davis R M Inc. increased its stake in shares of Allergan PLC by 11.5% in the first quarter. Davis R M Inc. now owns 2,154 shares of the company’s stock valued at $577,000 after buying an additional 223 shares during the period. Gillespie Robinson & Grimm Inc. increased its stake in Allergan PLC by 2.1% in the first quarter. Gillespie Robinson & Grimm Inc. now owns 78,043 shares of the company’s stock worth $16,948,000 after buying an additional 1,632 shares during the last quarter. Regent Investment Management LLC increased its stake in Allergan PLC by 1.0% in the first quarter. Regent Investment Management LLC now owns 4,619 shares of the company’s stock worth $1,238,000 after buying an additional 44 shares during the last quarter. Finally, OLD National Bancorp IN increased its stake in Allergan PLC by 0.6% in the first quarter. OLD National Bancorp IN now owns 32,693 shares of the company’s stock worth $8,763,000 after buying an additional 188 shares during the last quarter. 85.19% of the stock is owned by institutional investors.
About Allergan PLC
Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.
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