Allergan (NYSE:AGN) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Wednesday. They currently have a $187.73 price target on the stock. Vetr‘s target price suggests a potential upside of 11.74% from the stock’s current price.

Several other analysts have also recently issued reports on the company. J P Morgan Chase & Co set a $275.00 price objective on Allergan and gave the company a “buy” rating in a research note on Sunday, October 22nd. Morgan Stanley cut Allergan from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $284.00 to $228.00 in a research note on Wednesday, September 20th. Cowen reiterated an “outperform” rating and issued a $400.00 price objective on shares of Allergan in a research note on Tuesday, August 29th. Zacks Investment Research cut Allergan from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Cantor Fitzgerald reduced their price objective on Allergan to $191.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. Allergan currently has a consensus rating of “Buy” and a consensus price target of $241.56.

Shares of Allergan (NYSE:AGN) traded up $3.72 during midday trading on Wednesday, hitting $168.00. The stock had a trading volume of 3,659,477 shares, compared to its average volume of 2,935,006. The firm has a market capitalization of $54,640.00, a PE ratio of 10.82, a P/E/G ratio of 1.12 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.18. Allergan has a twelve month low of $160.07 and a twelve month high of $256.80.

Allergan (NYSE:AGN) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.06 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $3.32 earnings per share. sell-side analysts expect that Allergan will post 16.28 earnings per share for the current fiscal year.

Allergan declared that its board has approved a stock repurchase plan on Monday, September 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

In related news, insider William Meury sold 11,807 shares of the stock in a transaction 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 document filed with the SEC, which is available at the SEC website. Also, Director Christopher J. Coughlin bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was acquired at an average cost of $163.30 per share, for a total transaction of $1,633,000.00. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Hudock Capital Group LLC grew its holdings in shares of 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 purchasing an additional 2 shares during the last quarter. Burns J W & Co. Inc. NY grew 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 grew 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 grew 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 grew 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 currently owned by institutional investors.

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About Allergan

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Allergan (NYSE:AGN)

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