Allergan PLC. (NYSE:AGN) Earns Outperform Rating from Credit Suisse Group
Allergan PLC. (NYSE:AGN)‘s stock had its “outperform” rating restated by analysts at Credit Suisse Group in a research report issued on Thursday, The Fly reports. They presently have a $286.00 target price on the stock, up from their prior target price of $274.00. Credit Suisse Group’s price target points to a potential upside of 16.07% from the stock’s current price.
Several other research firms have also recently issued reports on AGN. Deutsche Bank AG reaffirmed a “buy” rating and set a $273.00 price objective (up from $265.00) on shares of Allergan PLC. in a research report on Monday. Vetr raised Allergan PLC. from a “sell” rating to a “hold” rating and set a $242.88 price objective for the company in a research report on Monday, June 26th. BidaskClub raised Allergan PLC. from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $231.00 price objective on shares of Allergan PLC. in a research report on Friday, July 14th. Finally, Royal Bank Of Canada set a $284.00 price objective on Allergan PLC. and gave the stock a “buy” rating in a research report on Sunday. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Allergan PLC. presently has a consensus rating of “Buy” and an average target price of $273.78.
Shares of Allergan PLC. (NYSE:AGN) opened at 246.41 on Thursday. Allergan PLC. has a 1-year low of $184.50 and a 1-year high of $261.27. The firm has a 50-day moving average price of $238.93 and a 200-day moving average price of $234.83. The stock has a market capitalization of $82.76 billion, a PE ratio of 7.68 and a beta of 1.16.
Allergan PLC. (NYSE:AGN) last released its quarterly earnings data on Tuesday, May 9th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.32 by $0.03. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Allergan PLC. had a return on equity of 7.29% and a net margin of 82.42%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.04 EPS. On average, equities research analysts forecast that Allergan PLC. will post $16.09 earnings per share for the current year.
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In other news, Director Nesli Basgoz sold 1,889 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $220.45, for a total transaction of $416,430.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.36% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Veritas Asset Management LLP acquired a new stake in Allergan PLC. during the first quarter valued at about $761,339,000. Iridian Asset Management LLC CT boosted its stake in Allergan PLC. by 141.3% in the first quarter. Iridian Asset Management LLC CT now owns 1,283,833 shares of the company’s stock valued at $306,733,000 after buying an additional 751,848 shares during the period. Renaissance Technologies LLC acquired a new stake in Allergan PLC. during the first quarter valued at about $124,255,000. Blue Ridge Capital L.L.C. boosted its stake in Allergan PLC. by 24.1% in the first quarter. Blue Ridge Capital L.L.C. now owns 1,909,900 shares of the company’s stock valued at $456,313,000 after buying an additional 370,400 shares during the period. Finally, First Manhattan Co. boosted its stake in Allergan PLC. by 193.3% in the first quarter. First Manhattan Co. now owns 497,793 shares of the company’s stock valued at $114,646,000 after buying an additional 328,062 shares during the period. Institutional investors and hedge funds own 84.53% 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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