Allergan PLC (NYSE:AGN) was downgraded by equities researchers at Cantor Fitzgerald from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other equities analysts also recently issued reports on the company. Goldman Sachs Group Inc. restated a “buy” rating on shares of Allergan PLC in a research report on Wednesday, July 6th. Leerink Swann lifted their target price on Allergan PLC from $272.00 to $294.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. set a $325.00 target price on Allergan PLC and gave the stock a “buy” rating in a report on Friday, August 5th. Zacks Investment Research downgraded Allergan PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, Vetr upgraded Allergan PLC from a “buy” rating to a “strong-buy” rating and set a $285.60 target price for the company in a report on Monday, August 1st. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $308.54.

Allergan PLC (NYSE:AGN) traded down 1.40% during midday trading on Wednesday, hitting $235.33. The stock had a trading volume of 2,375,234 shares. The stock has a market capitalization of $93.18 billion, a PE ratio of 22.41 and a beta of 0.73. Allergan PLC has a 1-year low of $195.50 and a 1-year high of $322.68. The stock’s 50-day moving average is $245.54 and its 200-day moving average is $243.04.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/allergan-plc-agn-stock-rating-lowered-by-cantor-fitzgerald.html

Allergan PLC (NYSE:AGN) last issued its quarterly earnings data on Monday, August 8th. The company reported $3.35 earnings per share (EPS) for the quarter, topping 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 earned $3.68 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period last year, the company earned $4.41 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Allergan PLC will post $14.01 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Barnett & Company Inc. purchased a new stake in shares of Allergan PLC during the first quarter valued at about $111,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Allergan PLC during the second quarter worth about $125,000. Trust Co. of Vermont raised its stake 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 last quarter. Ropes Wealth Advisors LLC raised its stake 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 last quarter. Finally, Integrated Investment Consultants LLC raised its stake 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 last quarter. Hedge funds and other institutional investors 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.

5 Day Chart for NYSE:AGN

Receive News & Ratings for Allergan PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan PLC and related companies with MarketBeat.com's FREE daily email newsletter.