Allergan (NYSE:AGN) has been given a $214.00 price objective by analysts at Credit Suisse Group in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Credit Suisse Group’s price objective points to a potential upside of 26.20% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other research firms also recently commented on AGN. Cantor Fitzgerald set a $191.00 price objective on Allergan and gave the stock a “hold” rating in a report on Tuesday, December 12th. Royal Bank of Canada restated a “buy” rating and issued a $285.00 price objective on shares of Allergan in a report on Wednesday, September 6th. Citigroup dropped their target price on Allergan from $280.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, October 19th. Wells Fargo & Company reiterated a “buy” rating on shares of Allergan in a report on Monday, October 2nd. Finally, Piper Jaffray Companies set a $227.00 target price on Allergan and gave the company a “hold” rating in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $233.73.
Allergan (AGN) traded down $1.34 during trading on Tuesday, hitting $169.57. The stock had a trading volume of 2,643,785 shares, compared to its average volume of 2,935,978. The stock has a market cap of $57,097.86, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 1.15 and a beta of 1.11. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. Allergan has a 52 week low of $160.07 and a 52 week high of $256.80.
Allergan announced that its board has initiated a stock repurchase program on Monday, September 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Christopher J. Coughlin bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was bought at an average price of $163.30 per share, for a total transaction of $1,633,000.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider William Meury sold 11,807 shares of Allergan stock in a transaction that occurred on 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 acquired a total of 17,630 shares of company stock worth $2,890,057 over the last 90 days. 0.36% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. AXA grew its position in shares of Allergan by 22.4% in the 3rd quarter. AXA now owns 488,257 shares of the company’s stock worth $100,068,000 after acquiring an additional 89,257 shares in the last quarter. Shelton Capital Management boosted its position in Allergan by 35.4% during the 3rd quarter. Shelton Capital Management now owns 4,117 shares of the company’s stock valued at $844,000 after purchasing an additional 1,077 shares during the period. Institutional & Family Asset Management LLC boosted its position in Allergan by 9.7% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 4,962 shares of the company’s stock valued at $1,017,000 after purchasing an additional 438 shares during the period. GSA Capital Partners LLP acquired a new position in Allergan during the 3rd quarter valued at approximately $4,764,000. Finally, Pura Vida Investments LLC acquired a new position in Allergan during the 3rd quarter valued at approximately $7,173,000. Institutional investors own 81.14% of the company’s stock.
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.
