Allergan (NYSE:AGN) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday, Marketbeat reports.
A number of other brokerages have also commented on AGN. Piper Jaffray Companies set a $227.00 price target on shares of Allergan and gave the company a “hold” rating in a research note on Friday, October 6th. Cowen reiterated a “buy” rating on shares of Allergan in a research note on Thursday, October 12th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $275.00 price target on shares of Allergan in a research note on Monday, October 16th. Wells Fargo & Co reiterated a “buy” rating on shares of Allergan in a research note on Monday, October 2nd. Finally, Cantor Fitzgerald set a $231.00 price target on shares of Allergan and gave the company a “hold” rating in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. Allergan currently has a consensus rating of “Hold” and an average price target of $227.43.
Shares of Allergan (NYSE:AGN) traded up $0.37 on Monday, reaching $187.30. 2,644,444 shares of the company were exchanged, compared to its average volume of 2,750,000. Allergan has a twelve month low of $160.07 and a twelve month high of $256.80. The firm has a market cap of $62,170.00, a price-to-earnings ratio of -8.29, a P/E/G ratio of 1.38 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 (NYSE:AGN) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, beating the Zacks’ consensus estimate of $4.06 by $0.09. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the business earned $3.32 EPS. Allergan’s quarterly revenue was up 11.4% on a year-over-year basis. analysts anticipate that Allergan will post 16.27 earnings per share for the current year.
In other news, insider William Meury sold 11,807 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $173.89, for a total transaction of $2,053,119.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher J. Coughlin purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were 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. In the last 90 days, insiders have acquired 17,630 shares of company stock worth $2,890,057. Company insiders own 0.36% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Stonebridge Capital Management Inc. lifted its holdings in shares of Allergan by 52.6% during the 4th quarter. Stonebridge Capital Management Inc. now owns 4,682 shares of the company’s stock worth $824,000 after acquiring an additional 1,613 shares during the period. Exane Derivatives lifted its holdings in shares of Allergan by 353.5% during the 4th quarter. Exane Derivatives now owns 7,547 shares of the company’s stock worth $1,235,000 after acquiring an additional 5,883 shares during the period. Coronation Fund Managers Ltd. lifted its holdings in shares of Allergan by 35.9% during the 4th quarter. Coronation Fund Managers Ltd. now owns 203,238 shares of the company’s stock worth $33,246,000 after acquiring an additional 53,653 shares during the period. One Capital Management LLC lifted its holdings in shares of Allergan by 2.6% during the 4th quarter. One Capital Management LLC now owns 13,794 shares of the company’s stock worth $2,256,000 after acquiring an additional 355 shares during the period. Finally, Welch & Forbes LLC bought a new stake in shares of Allergan during the 4th quarter worth approximately $3,979,000. 81.21% of the stock is 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.