Mizuho Cuts Allergan PLC (AGN) Price Target to $299.00
Allergan PLC (NYSE:AGN) had its price objective dropped by investment analysts at Mizuho from $305.00 to $299.00 in a report issued on Tuesday, StockTargetPrices.com reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s price objective would suggest a potential upside of 23.22% from the company’s previous close.
A number of other brokerages also recently issued reports on AGN. Bank of America Corp. set a $294.00 price objective on Allergan PLC and gave the company a “buy” rating in a research note on Tuesday, September 20th. Piper Jaffray Cos. reaffirmed a “hold” rating and set a $236.00 price target on shares of Allergan PLC in a research report on Saturday, June 18th. Credit Suisse Group AG set a $322.00 price target on Allergan PLC and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Leerink Swann reaffirmed a “buy” rating on shares of Allergan PLC in a research report on Thursday, June 30th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Allergan PLC in a research report on Monday, September 12th. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $302.23.
Allergan PLC (NYSE:AGN) opened at 242.65 on Tuesday. Allergan PLC has a 52-week low of $195.50 and a 52-week high of $322.68. The firm has a 50-day moving average price of $239.67 and a 200-day moving average price of $238.49. The company has a market cap of $96.08 billion, a PE ratio of 23.10 and a beta of 0.81.
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Allergan PLC (NYSE:AGN) last announced its quarterly earnings data on Monday, August 8th. The company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.01. The firm earned $3.68 billion during the quarter, compared to the consensus estimate of $4.10 billion. Allergan PLC had a return on equity of 7.67% and a net margin of 28.06%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.41 EPS. On average, analysts forecast that Allergan PLC will post $14.00 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barnett & Company Inc. purchased a new position in Allergan PLC during the first quarter worth approximately $111,000. Ropes Wealth Advisors LLC boosted its position in shares of 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. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Allergan PLC during the second quarter worth about $125,000. Trust Co. of Vermont boosted its position in shares of 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. Finally, Integrated Investment Consultants LLC boosted its position in shares of 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. Institutional investors own 85.19% of the company’s stock.
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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