Allergan (AGN) Given a $200.00 Price Target by Morgan Stanley Analysts
Allergan (NYSE:AGN) has been given a $200.00 price target by equities research analysts at Morgan Stanley in a report issued on Wednesday. The firm presently has a “buy” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 20.26% from the company’s previous close.
AGN has been the topic of several other research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $250.00 price objective (down previously from $277.00) on shares of Allergan in a report on Thursday, October 19th. They noted that the move was a valuation call. J P Morgan Chase & Co set a $275.00 price objective on Allergan and gave the company a “buy” rating in a report on Sunday, October 22nd. BidaskClub downgraded Allergan from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Mizuho reiterated a “buy” rating and issued a $267.00 price objective on shares of Allergan in a report on Monday, September 25th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $258.00 price target on shares of Allergan in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $244.47.
Shares of Allergan (AGN) traded up $2.02 during trading on Wednesday, hitting $166.30. The stock had a trading volume of 1,127,544 shares, compared to its average volume of 2,931,912. Allergan has a twelve month low of $160.07 and a twelve month high of $256.80. The firm has a market cap of $55,508.12, a price-to-earnings ratio of 10.82, a PEG ratio of 1.12 and a beta of 1.11. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40.
Allergan announced that its board has authorized a share repurchase program on Monday, September 25th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In related news, insider William Meury sold 11,807 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $173.89, for a total value of $2,053,119.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher J. Coughlin acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was purchased at an average cost of $163.30 per share, with a total value of $1,633,000.00. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hudock Capital Group LLC increased its position in Allergan by 0.4% during the second quarter. Hudock Capital Group LLC now owns 571 shares of the company’s stock worth $138,000 after buying an additional 2 shares in the last quarter. Burns J W & Co. Inc. NY boosted its holdings in shares of Allergan by 0.7% during the second quarter. Burns J W & Co. Inc. NY now owns 906 shares of the company’s stock worth $220,000 after purchasing an additional 6 shares during the last quarter. Pacific Center for Financial Services boosted its holdings in shares of Allergan by 1.3% during the second quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock worth $132,000 after purchasing an additional 7 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its holdings in shares of Allergan by 0.5% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,666 shares of the company’s stock worth $405,000 after purchasing an additional 9 shares during the last quarter. Finally, Trust Co boosted its holdings in shares of Allergan by 0.8% during the first quarter. Trust Co now owns 1,224 shares of the company’s stock worth $292,000 after purchasing an additional 10 shares during the last quarter. 81.34% of the stock is owned by hedge funds and other institutional investors.
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Allergan 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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