Allergan (NYSE:AGN) had its price target raised by equities research analysts at UBS Group from $172.00 to $189.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 13.38% from the company’s previous close.
Several other research analysts have also recently weighed in on the company. ValuEngine cut Allergan from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Goldman Sachs Group started coverage on Allergan in a report on Tuesday, May 28th. They set a “neutral” rating and a $154.00 target price on the stock. Mizuho cut Allergan from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $171.00 to $188.00 in a report on Wednesday, June 26th. Guggenheim cut Allergan from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated a “hold” rating and set a $178.00 target price on shares of Allergan in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $180.24.
Shares of Allergan stock traded up $0.86 on Thursday, hitting $166.70. 1,032,987 shares of the company were exchanged, compared to its average volume of 3,459,884. The stock has a market capitalization of $54.40 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61. The company has a 50-day moving average price of $160.46 and a 200 day moving average price of $148.42. Allergan has a 1-year low of $114.27 and a 1-year high of $197.00. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 0.34.
Allergan (NYSE:AGN) last issued its earnings results on Tuesday, August 6th. The company reported $4.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.34 by $0.04. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.42 EPS. Research analysts forecast that Allergan will post 16.69 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in AGN. Nuveen Asset Management LLC raised its position in Allergan by 1,665.9% in the second quarter. Nuveen Asset Management LLC now owns 3,104,662 shares of the company’s stock valued at $519,813,000 after purchasing an additional 2,928,846 shares during the period. FMR LLC raised its position in Allergan by 42.0% in the first quarter. FMR LLC now owns 6,042,005 shares of the company’s stock valued at $884,611,000 after purchasing an additional 1,788,265 shares during the period. Magnetar Financial LLC raised its position in Allergan by 7,332.9% in the second quarter. Magnetar Financial LLC now owns 966,272 shares of the company’s stock valued at $161,783,000 after purchasing an additional 953,272 shares during the period. OZ Management LP purchased a new stake in Allergan in the second quarter valued at approximately $150,878,000. Finally, Clearbridge Investments LLC raised its position in Allergan by 8.6% in the first quarter. Clearbridge Investments LLC now owns 9,167,006 shares of the company’s stock valued at $1,342,141,000 after purchasing an additional 726,688 shares during the period. 80.86% of the stock is currently owned by institutional investors.
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.
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