Cantor Fitzgerald Reiterates “$191.00” Price Target for Allergan (AGN)
Allergan (NYSE:AGN) has been given a $191.00 price target by analysts at Cantor Fitzgerald in a research note issued on Tuesday. The brokerage presently has a “hold” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 10.37% from the company’s current price.
AGN has been the topic of several other research reports. Citigroup reaffirmed a “buy” rating and set a $280.00 price target on shares of Allergan in a research note on Wednesday, September 20th. Deutsche Bank set a $251.00 price target on Allergan and gave the company a “buy” rating in a research note on Tuesday, October 17th. Piper Jaffray Companies set a $227.00 price target on Allergan and gave the company a “hold” rating in a research note on Friday, October 6th. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $275.00 price target on shares of Allergan in a research note on Monday, October 16th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $285.00 price target on shares of Allergan in a research note on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $235.25.
Shares of Allergan (NYSE:AGN) traded up $0.29 on Tuesday, hitting $173.05. The stock had a trading volume of 801,451 shares, compared to its average volume of 2,934,496. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. Allergan has a twelve month low of $160.07 and a twelve month high of $256.80. The firm has a market capitalization of $55,807.45, a price-to-earnings ratio of 10.88, a PEG ratio of 1.12 and a beta of 1.11.
Allergan declared that its board has authorized a stock repurchase plan on Monday, September 25th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In other Allergan news, Chairman Brent L. Saunders purchased 4,600 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were bought at an average price of $164.74 per share, with a total value of $757,804.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Meury sold 11,807 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $173.89, for a total value of $2,053,119.23. The disclosure for this sale can be found here. Insiders acquired 17,630 shares of company stock worth $2,890,057 in the last three months. Insiders own 0.36% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Honeywell International Inc. grew its holdings in shares of Allergan by 13.6% during the second quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock worth $40,871,000 after buying an additional 20,100 shares in the last quarter. Peloton Wealth Strategists grew its holdings in shares of Allergan by 37.1% during the third quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock worth $2,149,000 after buying an additional 2,835 shares in the last quarter. Sumitomo Life Insurance Co. grew its holdings in shares of Allergan by 39.0% during the third quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock worth $3,099,000 after buying an additional 4,244 shares in the last quarter. Fairbanks Capital Management Inc. grew its holdings in shares of Allergan by 1.3% during the second quarter. Fairbanks Capital Management Inc. now owns 5,480 shares of the company’s stock worth $1,332,000 after buying an additional 70 shares in the last quarter. Finally, Colony Group LLC grew its holdings in shares of Allergan by 9.9% during the second quarter. Colony Group LLC now owns 39,802 shares of the company’s stock worth $9,675,000 after buying an additional 3,577 shares in the last quarter. 81.34% of the stock is currently owned by 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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