Allergan PLC. (AGN) Stock Rating Lowered by Morgan Stanley
Allergan PLC. (NYSE:AGN) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Wednesday, MarketBeat.com reports. They presently have a $228.00 price target on the stock, down from their prior price target of $284.00. Morgan Stanley’s price target indicates a potential upside of 8.57% from the stock’s previous close.
Several other analysts also recently weighed in on the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $262.00 price objective on shares of Allergan PLC. in a research report on Tuesday, September 12th. Wells Fargo & Company reiterated an “outperform” rating on shares of Allergan PLC. in a research report on Monday, September 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $285.00 price objective on shares of Allergan PLC. in a research report on Wednesday, September 6th. Cantor Fitzgerald reiterated a “hold” rating on shares of Allergan PLC. in a research report on Tuesday, August 29th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $400.00 price objective on shares of Allergan PLC. in a research report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $273.34.
Shares of Allergan PLC. (NYSE:AGN) traded down 2.33% on Wednesday, hitting $210.00. 5,474,505 shares of the stock were exchanged. The firm has a market cap of $70.20 billion, a price-to-earnings ratio of 6.40 and a beta of 1.18. The firm’s 50 day moving average price is $229.79 and its 200 day moving average price is $236.07. Allergan PLC. has a one year low of $184.50 and a one year high of $256.80.
Allergan PLC. (NYSE:AGN) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.95 by $0.07. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period last year, the firm posted $3.35 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts anticipate that Allergan PLC. will post $16.25 earnings per share for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. Intl Fcstone Inc. acquired a new position in shares of Allergan PLC. in the 2nd quarter worth approximately $1,626,000. Phocas Financial Corp. acquired a new position in shares of Allergan PLC. in the 2nd quarter worth approximately $150,000. Sentry Investment Management LLC grew its stake in shares of Allergan PLC. by 1.0% in the 2nd quarter. Sentry Investment Management LLC now owns 26,889 shares of the company’s stock worth $6,536,000 after purchasing an additional 265 shares during the last quarter. WFG Advisors LP grew its stake in shares of Allergan PLC. by 20.9% in the 2nd quarter. WFG Advisors LP now owns 793 shares of the company’s stock worth $193,000 after purchasing an additional 137 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Allergan PLC. by 25.2% in the 2nd quarter. Toronto Dominion Bank now owns 113,770 shares of the company’s stock worth $27,651,000 after purchasing an additional 22,873 shares during the last quarter. 82.02% of the stock is currently 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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