Allergan PLC. (AGN) Given Buy Rating at Cowen and Company
Allergan PLC. (NYSE:AGN)‘s stock had its “buy” rating reissued by equities researchers at Cowen and Company in a research note issued on Thursday.
Several other equities research analysts have also weighed in on the stock. Morgan Stanley lowered shares of Allergan PLC. from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $284.00 to $228.00 in a report on Wednesday, September 20th. Zacks Investment Research raised shares of Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 target price on the stock in a report on Tuesday, July 11th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Allergan PLC. in a report on Monday, September 11th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $262.00 target price on shares of Allergan PLC. in a report on Tuesday, September 12th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating on shares of Allergan PLC. in a report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Allergan PLC. presently has an average rating of “Buy” and an average price target of $271.64.
Allergan PLC. (AGN) opened at 206.61 on Thursday. Allergan PLC. has a 12-month low of $184.50 and a 12-month high of $256.80. The stock has a 50 day moving average of $216.96 and a 200 day moving average of $232.50. The firm has a market capitalization of $69.07 billion, a price-to-earnings ratio of 6.29 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.95 by $0.07. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.95 billion. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.35 EPS. Equities research analysts anticipate that Allergan PLC. will post $16.21 earnings per share for the current year.
Allergan PLC. announced that its Board of Directors has approved a stock repurchase program on Monday, September 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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A number of hedge funds have recently made changes to their positions in the business. Hudock Capital Group LLC raised its holdings in Allergan PLC. by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 571 shares of the company’s stock worth $138,000 after buying an additional 2 shares during the period. GWM Advisors LLC raised its holdings in Allergan PLC. by 0.4% during the 1st quarter. GWM Advisors LLC now owns 1,260 shares of the company’s stock worth $300,000 after buying an additional 5 shares during the period. Burns J W & Co. Inc. NY raised its holdings in Allergan PLC. by 0.7% during the 2nd quarter. Burns J W & Co. Inc. NY now owns 906 shares of the company’s stock worth $220,000 after buying an additional 6 shares during the period. Pacific Center for Financial Services raised its holdings in Allergan PLC. by 1.3% during the 2nd quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock worth $132,000 after buying an additional 7 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC raised its holdings in Allergan PLC. by 0.5% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,666 shares of the company’s stock worth $405,000 after buying an additional 9 shares during the period. Hedge funds and other institutional investors own 82.04% 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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