Allergan (NYSE:AGN)‘s stock had its “buy” rating reiterated by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday.
Several other analysts also recently weighed in on AGN. Credit Suisse Group set a $215.00 target price on Allergan and gave the company a “buy” rating in a research note on Thursday, March 1st. Cantor Fitzgerald set a $191.00 price target on Allergan and gave the company a “hold” rating in a research report on Saturday, December 2nd. ValuEngine cut Allergan from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Citigroup lowered their price target on Allergan to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, January 9th. Finally, Morgan Stanley lowered their price target on Allergan from $200.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $225.03.
Shares of Allergan (NYSE:AGN) traded up $3.87 during trading on Wednesday, reaching $167.06. The company’s stock had a trading volume of 5,077,298 shares, compared to its average volume of 3,900,000. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The company has a market cap of $56,850.00, a P/E ratio of -13.93, a P/E/G ratio of 1.12 and a beta of 1.29. Allergan has a 52-week low of $142.81 and a 52-week high of $256.80.
In related news, insider William Meury sold 58,879 shares of Allergan stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $160.62, for a total value of $9,457,144.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph H. Boccuzi bought 900 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was bought at an average price of $143.42 per share, for a total transaction of $129,078.00. The disclosure for this purchase can be found here. Insiders purchased a total of 7,200 shares of company stock worth $1,108,267 over the last 90 days. Insiders own 0.36% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BB&T Investment Services Inc. grew its holdings in shares of Allergan by 1,308.2% during the third quarter. BB&T Investment Services Inc. now owns 690 shares of the company’s stock valued at $139,000 after buying an additional 641 shares in the last quarter. Avestar Capital LLC purchased a new position in shares of Allergan during the fourth quarter valued at $113,000. Focused Wealth Management Inc grew its holdings in shares of Allergan by 4,444.4% during the fourth quarter. Focused Wealth Management Inc now owns 818 shares of the company’s stock valued at $134,000 after buying an additional 800 shares in the last quarter. Acropolis Investment Management LLC purchased a new position in shares of Allergan during the fourth quarter valued at $153,000. Finally, Zions Bancorporation grew its holdings in shares of Allergan by 1,115.6% during the third quarter. Zions Bancorporation now owns 936 shares of the company’s stock valued at $192,000 after buying an additional 859 shares in the last quarter. Institutional investors and hedge funds own 78.40% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of US & international trademark and copyright law. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/03/14/allergans-agn-buy-rating-reaffirmed-at-royal-bank-of-canada.html.
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.
Receive News & Ratings for Allergan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan and related companies with MarketBeat.com's FREE daily email newsletter.