Allergan (AGN) Upgraded by Vetr to “Hold”

Allergan (NYSE:AGN) was upgraded by Vetr from a “sell” rating to a “hold” rating in a note issued to investors on Friday. The firm currently has a $189.60 price target on the stock. Vetr‘s price objective would indicate a potential upside of 1.43% from the stock’s previous close.

A number of other research analysts also recently issued reports on AGN. Barclays reiterated an “equal weight” rating on shares of Allergan in a report on Monday, October 2nd. Wells Fargo & Co reiterated a “buy” rating on shares of Allergan in a report on Monday, October 2nd. Piper Jaffray Companies set a $227.00 price target on Allergan and gave the company a “hold” rating in a report on Friday, October 6th. Cowen reiterated a “buy” rating on shares of Allergan in a report on Thursday, October 12th. Finally, Cantor Fitzgerald set a $231.00 price target on Allergan and gave the company a “hold” rating in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $227.43.

Shares of Allergan (NYSE AGN) traded down $0.19 during midday trading on Friday, reaching $186.93. The company’s stock had a trading volume of 1,974,584 shares, compared to its average volume of 2,750,000. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a market cap of $62,230.00, a price-to-earnings ratio of -8.27, a PEG ratio of 1.38 and a beta of 1.11. Allergan has a 1-year low of $160.07 and a 1-year high of $256.80.

Allergan (NYSE:AGN) last issued its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.06 by $0.09. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period in the previous year, the company posted $3.32 EPS. Allergan’s revenue was up 11.4% on a year-over-year basis. equities research analysts anticipate that Allergan will post 16.27 earnings per share for the current year.

In related news, Chairman Brent L. Saunders acquired 4,600 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was acquired at an average price of $164.74 per share, with a total value of $757,804.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Chris W. Bodine acquired 3,030 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was bought at an average cost of $164.77 per share, with a total value of $499,253.10. The disclosure for this purchase can be found here. In the last three months, insiders bought 17,630 shares of company stock valued at $2,890,057. Insiders own 0.36% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Peloton Wealth Strategists raised its holdings in Allergan by 37.1% in the 3rd quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock worth $2,149,000 after purchasing an additional 2,835 shares during the period. Sumitomo Life Insurance Co. raised its holdings in Allergan by 39.0% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock worth $3,099,000 after purchasing an additional 4,244 shares during the period. Colony Group LLC raised its holdings in Allergan by 9.9% in the 2nd quarter. Colony Group LLC now owns 39,802 shares of the company’s stock worth $9,675,000 after purchasing an additional 3,577 shares during the period. Clear Harbor Asset Management LLC raised its holdings in Allergan by 67.7% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 5,039 shares of the company’s stock worth $1,033,000 after purchasing an additional 2,035 shares during the period. Finally, Alta Capital Management LLC raised its holdings in Allergan by 1.4% in the 3rd quarter. Alta Capital Management LLC now owns 161,377 shares of the company’s stock worth $33,074,000 after purchasing an additional 2,151 shares during the period. 81.18% of the stock is owned by institutional investors and hedge funds.

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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.

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

Analyst Recommendations for Allergan (NYSE:AGN)

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