Allergan (NYSE:AGN) has been assigned a $214.00 price target by stock analysts at Credit Suisse Group in a report released on Monday. The brokerage presently has a “buy” rating on the stock. Credit Suisse Group’s price target suggests a potential upside of 13.79% from the stock’s previous close.
A number of other brokerages also recently weighed in on AGN. Piper Jaffray Companies set a $227.00 target price on Allergan and gave the stock a “hold” rating in a research note on Friday, October 6th. Cowen restated a “buy” rating on shares of Allergan in a research note on Thursday, October 12th. JPMorgan Chase & Co. restated a “buy” rating and issued a $275.00 target price on shares of Allergan in a research note on Monday, October 16th. Wells Fargo & Co restated a “buy” rating on shares of Allergan in a research note on Monday, October 2nd. Finally, Barclays restated an “equal weight” rating on shares of Allergan in a research note on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $226.95.
Shares of Allergan (AGN) traded down $0.09 during midday trading on Monday, hitting $188.06. The stock had a trading volume of 3,843,324 shares, compared to its average volume of 2,780,000. Allergan has a 12-month low of $160.07 and a 12-month high of $256.80. The stock has a market cap of $62,580.00, a P/E ratio of -8.32, a PEG ratio of 1.33 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08.
Allergan declared that its board has approved a stock repurchase plan on Monday, September 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
In related news, insider William Meury sold 11,807 shares of the company’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 SEC, which is available at 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 price of $163.30 per share, for a total transaction of $1,633,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 17,630 shares of company stock worth $2,890,057. 0.36% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of AGN. Peloton Wealth Strategists raised its holdings in Allergan by 37.1% during the 3rd quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock valued at $2,149,000 after acquiring an additional 2,835 shares during the period. Sumitomo Life Insurance Co. raised its holdings in Allergan by 39.0% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock valued at $3,099,000 after acquiring an additional 4,244 shares during the period. Colony Group LLC raised its holdings in Allergan by 9.9% during the 2nd quarter. Colony Group LLC now owns 39,802 shares of the company’s stock valued at $9,675,000 after acquiring an additional 3,577 shares during the period. Clear Harbor Asset Management LLC raised its holdings in Allergan by 67.7% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 5,039 shares of the company’s stock valued at $1,033,000 after acquiring an additional 2,035 shares during the period. Finally, Alta Capital Management LLC raised its holdings in Allergan by 1.4% during the 3rd quarter. Alta Capital Management LLC now owns 161,377 shares of the company’s stock valued at $33,074,000 after acquiring an additional 2,151 shares during the period. Institutional investors and hedge funds own 81.18% of the company’s stock.
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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.
