Allergan PLC (AGN) PT Set at $294.00 by 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 report issued on Tuesday. The firm currently has a a “buy” rating on the stock. Bank of America Corp.’s target price would indicate a potential upside of 23.18% from the stock’s previous close.
A number of other equities analysts have also issued reports on the company. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Allergan PLC in a research report on Wednesday, July 6th. Leerink Swann upped their target price on Allergan PLC from $272.00 to $294.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. JPMorgan Chase & Co. set a $325.00 target price on Allergan PLC and gave the company a “buy” rating in a research report on Friday, August 5th. Zacks Investment Research lowered Allergan PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Vetr raised Allergan PLC from a “buy” rating to a “strong-buy” rating and set a $285.60 price target on the stock in a research report on Monday, August 1st. 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 company. The stock currently has a consensus rating of “Buy” and a consensus price target of $308.54.
Shares of Allergan PLC (NYSE:AGN) traded down 1.03% during midday trading on Tuesday, hitting $236.21. 2,424,302 shares of the company’s stock traded hands. Allergan PLC has a 52 week low of $195.50 and a 52 week high of $322.68. The company has a 50 day moving average of $245.54 and a 200 day moving average of $243.04. The stock has a market cap of $93.53 billion, a P/E ratio of 22.49 and a beta of 0.73.
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Allergan PLC (NYSE:AGN) last announced its earnings results on Monday, August 8th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.34 by $0.01. Allergan PLC had a return on equity of 7.67% and a net margin of 28.06%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the company posted $4.41 EPS. Allergan PLC’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts forecast that Allergan PLC will post $14.01 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Barnett & Company Inc. bought a new position in Allergan PLC during the first quarter worth $111,000. Ropes Wealth Advisors LLC raised its position in Allergan PLC by 13.2% in the first quarter. Ropes Wealth Advisors LLC now owns 497 shares of the company’s stock worth $133,000 after buying an additional 58 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Allergan PLC during the second quarter worth $125,000. Trust Co. of Vermont raised its position in Allergan PLC by 19.5% in the second quarter. Trust Co. of Vermont now owns 545 shares of the company’s stock worth $126,000 after buying an additional 89 shares during the period. Finally, Integrated Investment Consultants LLC raised its position in Allergan PLC by 35.2% in the second quarter. Integrated Investment Consultants LLC now owns 592 shares of the company’s stock worth $137,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.
Allergan PLC Company Profile
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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