Investment Analysts’ Weekly Ratings Changes for Allergan (AGN)

Allergan (NYSE: AGN) has recently received a number of price target changes and ratings updates:

  • 2/7/2018 – Allergan had its price target raised by analysts at Credit Suisse Group AG from $214.00 to $215.00. They now have an “outperform” rating on the stock.
  • 2/7/2018 – Allergan had its price target raised by analysts at Bank of America Corp from $208.00 to $215.00. They now have a “buy” rating on the stock.
  • 2/7/2018 – Allergan had its price target raised by analysts at Leerink Swann from $237.00 to $242.00. They now have an “outperform” rating on the stock.
  • 2/6/2018 – Allergan had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $191.00 price target on the stock. They wrote, “Key takeaways from the quarter: 1) AGN has more important pipeline catalysts in 2018 including those for the CGRPs for migraine, abicipar for AMD, and the FDA approval of Esmya. 2) LOEs and mix will impact AGN’s margins in the near term, but its cost-cutting initiatives will buffer the impact with longer- term margin expansion driven by pipeline success. 3) ~One-third of AGN’s sales comes from cash pay products and Botox Therapeutics, and AGN believes this will grow to ~45% of sales by 2022. 4) Capital allocation strategy is sound with AGN on its way to achieving a 3x leverage ratio, and maintaining its investment grade rating, AGN will be opportunistic on its $2B share buyback and is committed to growing its dividend. 5) As of 12/31/17, AGN had cash & equivalents of $6.5B and debt of $30.1B, CFLO from operations increased to ~$2.1B in 4Q17. 6) Top line results from ACHIEVE I (UBR-MD-01) study demonstrated efficacy, safety and tolerability, study met co-primary endpoints in the first of two Phase 3 studies, there were 6 cases with aminotransferase (ALT or AST) elevations greater than 3x the upper limit of normal, and there were alternative explanations in all cases.””
  • 2/2/2018 – Allergan was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 2/1/2018 – Allergan was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $189.60 price target on the stock.
  • 1/29/2018 – Allergan was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $230.00 price target on the stock, up previously from $220.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 1/26/2018 – Allergan was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $189.60 price target on the stock.
  • 1/24/2018 – Allergan had its “buy” rating reaffirmed by analysts at Morgan Stanley.
  • 1/22/2018 – Allergan was given a new $214.00 price target on by analysts at Credit Suisse Group AG. They now have a “buy” rating on the stock.
  • 1/22/2018 – Allergan was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating. They now have a $180.97 price target on the stock.
  • 1/10/2018 – Allergan was given a new $250.00 price target on by analysts at UBS Group AG. They now have a “buy” rating on the stock.
  • 1/10/2018 – Allergan was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $180.97 price target on the stock.
  • 1/9/2018 – Allergan had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $215.00 price target on the stock.
  • 1/9/2018 – Allergan had its price target lowered by analysts at Citigroup Inc to $215.00. They now have a “buy” rating on the stock.
  • 1/5/2018 – Allergan was given a new $245.00 price target on by analysts at Wells Fargo & Co. They now have a “buy” rating on the stock.
  • 1/4/2018 – Allergan was given a new $218.00 price target on by analysts at Royal Bank of Canada. They now have a “buy” rating on the stock.
  • 1/2/2018 – Allergan was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Allergan’s products like Botox and Linzess and new products such as Viberzi, Namzaric and Vraylar support sales. It also boasts a strong branded pipeline. Biosimilars also represent significant opportunity. However, while we remain optimistic about the company’s growth prospects, it is facing potential loss of exclusivity for many products in 2018 including Namenda XR and Restasis. In October 2017, a Texas federal district court invalidated four of the six patents covering Restasis, potentially opening doors for early generic competition. Though Restasis patents are scheduled to expire in August 2024, a generic version may be launched as early as mid-2018. Also, new competition for key growth drivers, Restasis and Linzess, is an investor concern. Allergan’s shares underperformed the industry in the past six months. “
  • 12/31/2017 – Allergan was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 12/19/2017 – Allergan was given a new $214.00 price target on by analysts at Credit Suisse Group AG. They now have a “buy” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.

Allergan plc (NYSE:AGN) traded down $1.26 on Monday, reaching $161.51. The company had a trading volume of 358,210 shares, compared to its average volume of 3,023,774. Allergan plc has a 1 year low of $157.70 and a 1 year high of $256.80. The firm has a market cap of $54,130.00, a PE ratio of -13.47, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.04 and a quick ratio of 1.88.

Allergan (NYSE:AGN) last released its earnings results on Tuesday, February 6th. The company reported $4.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.74 by $0.12. Allergan had a positive return on equity of 8.28% and a negative net margin of 26.32%. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the firm posted $3.90 EPS. Allergan’s revenue for the quarter was up 12.0% on a year-over-year basis. equities research analysts anticipate that Allergan plc will post 15.56 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.78%. This is a boost from Allergan’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, February 27th. Allergan’s payout ratio is presently -23.35%.

In other Allergan news, Director Christopher J. Coughlin acquired 10,000 shares of the stock in a transaction dated Tuesday, December 5th. The stock was acquired at an average cost of $163.30 per share, with a total value of $1,633,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William Meury sold 11,807 shares of the company’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 have purchased a total of 17,630 shares of company stock valued at $2,890,057 over the last three months. 0.36% of the stock is currently owned by insiders.

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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