Wells Fargo & Company Analysts Give Allergan PLC. (AGN) a $276.00 Price Target
Allergan PLC. (NYSE:AGN) has been given a $276.00 price target by Wells Fargo & Company in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the stock. Wells Fargo & Company’s target price would indicate a potential upside of 35.24% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $285.00 price objective on shares of Allergan PLC. in a research note on Wednesday, September 6th. BidaskClub cut shares of Allergan PLC. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Deutsche Bank AG reissued a “buy” rating and issued a $273.00 price objective (up from $265.00) on shares of Allergan PLC. in a research note on Monday, July 17th. Piper Jaffray Companies set a $227.00 price objective on shares of Allergan PLC. and gave the company a “hold” rating in a research note on Friday, October 6th. Finally, Credit Suisse Group set a $288.00 price objective on shares of Allergan PLC. and gave the company a “buy” rating in a research note on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $271.44.
Shares of Allergan PLC. (AGN) opened at 204.08 on Friday. The company’s 50-day moving average is $216.44 and its 200 day moving average is $232.29. Allergan PLC. has a 52-week low of $184.50 and a 52-week high of $256.80. The firm has a market cap of $68.23 billion, a price-to-earnings ratio of 6.22 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last released its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 EPS for the quarter, beating the 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 firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the prior year, the firm earned $3.35 EPS. Allergan PLC.’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts expect that Allergan PLC. will post $16.21 earnings per share for the current fiscal year.
Allergan PLC. declared that its board has authorized a share buyback program on Monday, September 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
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Several large investors have recently bought and sold shares of the company. Fulton Bank N.A. grew its stake in shares of Allergan PLC. by 11.8% during the 3rd quarter. Fulton Bank N.A. now owns 5,892 shares of the company’s stock worth $1,207,000 after purchasing an additional 621 shares during the period. Park National Corp OH grew its stake in shares of Allergan PLC. by 11.5% during the 3rd quarter. Park National Corp OH now owns 38,810 shares of the company’s stock worth $7,954,000 after purchasing an additional 4,011 shares during the period. Cacti Asset Management LLC grew its stake in shares of Allergan PLC. by 11.3% during the 3rd quarter. Cacti Asset Management LLC now owns 221,332 shares of the company’s stock worth $45,362,000 after purchasing an additional 22,384 shares during the period. Perpetual Ltd grew its stake in shares of Allergan PLC. by 17.8% during the 2nd quarter. Perpetual Ltd now owns 35,000 shares of the company’s stock worth $8,508,000 after purchasing an additional 5,290 shares during the period. Finally, Ardsley Advisory Partners acquired a new position in shares of Allergan PLC. during the 2nd quarter worth $486,000. 82.04% of the stock is currently owned by institutional investors and hedge funds.
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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