Allergan (AGN) Price Target Raised to $242.00

Allergan (NYSE:AGN) had its price objective raised by analysts at Leerink Swann from $237.00 to $242.00 in a report issued on Wednesday, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. Leerink Swann’s target price would indicate a potential upside of 41.94% from the stock’s previous close.

A number of other brokerages also recently commented on AGN. Cowen reaffirmed a “buy” rating on shares of Allergan in a research report on Thursday, October 12th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $275.00 price objective on shares of Allergan in a research report on Monday, October 16th. Wells Fargo & Co set a $276.00 price objective on shares of Allergan and gave the company a “buy” rating in a research report on Friday, October 13th. Piper Jaffray Companies set a $227.00 price objective on shares of Allergan and gave the company a “hold” rating in a research report on Friday, October 13th. Finally, Cantor Fitzgerald set a $231.00 price objective on shares of Allergan and gave the company a “hold” rating in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Allergan has an average rating of “Buy” and an average price target of $227.23.

Shares of Allergan (NYSE:AGN) traded up $2.17 on Wednesday, reaching $170.50. 2,090,079 shares of the company were exchanged, compared to its average volume of 2,979,097. Allergan has a 52-week low of $160.07 and a 52-week high of $256.80. The stock has a market capitalization of $55,980.00, a P/E ratio of -14.25, a PEG ratio of 1.22 and a beta of 1.19. 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 (NYSE:AGN) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $4.86 EPS for the quarter, beating the Zacks’ consensus estimate of $4.74 by $0.12. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the firm posted $3.90 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. equities analysts predict that Allergan will post 16.27 earnings per share for the current year.

In other news, Director Christopher J. Coughlin acquired 10,000 shares of Allergan stock in a transaction dated 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Chris W. Bodine acquired 3,030 shares of Allergan stock in a transaction dated Thursday, December 7th. The stock was purchased at an average price of $164.77 per share, with a total value of $499,253.10. The disclosure for this purchase can be found here. Insiders acquired 17,630 shares of company stock valued at $2,890,057 over the last three months. Insiders own 0.36% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Edgewood Management LLC boosted its holdings in Allergan by 24.3% in the third quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock valued at $911,192,000 after acquiring an additional 869,248 shares during the last quarter. Baupost Group LLC MA boosted its position in Allergan by 21.9% during the third quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock worth $607,513,000 after acquiring an additional 531,600 shares during the last quarter. Parnassus Investments CA boosted its position in Allergan by 20.4% during the fourth quarter. Parnassus Investments CA now owns 2,161,833 shares of the company’s stock worth $353,633,000 after acquiring an additional 365,914 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in Allergan by 1.0% during the third quarter. Epoch Investment Partners Inc. now owns 1,805,608 shares of the company’s stock worth $370,060,000 after acquiring an additional 17,068 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Allergan by 5.3% during the third quarter. Legal & General Group Plc now owns 1,739,410 shares of the company’s stock worth $356,484,000 after acquiring an additional 87,953 shares during the last quarter. Institutional investors and hedge funds own 80.23% 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.

Analyst Recommendations for Allergan (NYSE:AGN)

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