Allergan PLC. (AGN) PT Lowered to $191.00 at Cantor Fitzgerald
Allergan PLC. (NYSE:AGN) had its price target decreased by Cantor Fitzgerald to $191.00 in a report issued on Thursday. The firm presently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 7.77% from the company’s current price.
A number of other research analysts have also issued reports on the company. Morgan Stanley lowered Allergan PLC. from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $284.00 to $228.00 in a report on Wednesday, September 20th. J P Morgan Chase & Co set a $275.00 price target on Allergan PLC. and gave the company a “buy” rating in a research note on Sunday, October 22nd. Cowen and Company restated an “outperform” rating and issued a $400.00 price target on shares of Allergan PLC. in a research note on Tuesday, August 29th. Zacks Investment Research upgraded Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 price target on the stock in a research note on Tuesday, July 11th. Finally, Wells Fargo & Company restated an “outperform” rating on shares of Allergan PLC. in a research note on Monday, September 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $248.20.
Allergan PLC. (NYSE:AGN) last released its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.06 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.04 billion. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.32 earnings per share.
Allergan PLC. declared that its board has authorized a share buyback program on Monday, September 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC acquired a new position in Allergan PLC. in the first quarter valued at $103,000. Howard Hughes Medical Institute acquired a new position in Allergan PLC. in the second quarter valued at $103,000. Cable Hill Partners LLC increased its stake in Allergan PLC. by 255.2% in the third quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock valued at $106,000 after purchasing an additional 370 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in Allergan PLC. in the fourth quarter valued at $107,000. Finally, Feltz Wealth PLAN Inc. acquired a new position in Allergan PLC. in the first quarter valued at $107,000. 82.02% of the stock is owned by institutional investors.
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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