Allergan PLC (AGN) Earns Equal Weight Rating from Barclays PLC
Allergan PLC (NYSE:AGN)‘s stock had its “equal weight” rating reaffirmed by research analysts at Barclays PLC in a report released on Monday. They currently have a $250.00 price objective on the stock. Barclays PLC’s price target indicates a potential upside of 19.65% from the stock’s current price.
AGN has been the topic of a number of other research reports. Zacks Investment Research cut Allergan PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Credit Suisse Group AG assumed coverage on Allergan PLC in a research note on Monday, July 25th. They set an “outperform” rating and a $327.00 price objective on the stock. Vetr cut Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $283.05 price objective on the stock. in a research note on Monday, August 8th. Leerink Swann set a $294.00 price objective on Allergan PLC and gave the stock a “buy” rating in a research note on Monday, August 8th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $300.00 price target on shares of Allergan PLC in a research note on Tuesday, September 27th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $295.80.
Allergan PLC (NYSE:AGN) traded down 2.11% on Monday, reaching $208.94. The company had a trading volume of 4,930,286 shares. The stock has a 50 day moving average of $234.50 and a 200 day moving average of $236.03. The firm has a market capitalization of $82.73 billion, a PE ratio of 19.89 and a beta of 0.81. Allergan PLC has a 12 month low of $195.50 and a 12 month high of $322.68.
Allergan PLC (NYSE:AGN) last issued its quarterly earnings data on Monday, August 8th. The company reported $3.35 EPS for the quarter, topping the Zacks’ consensus estimate of $3.34 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Allergan PLC had a return on equity of 7.67% and a net margin of 28.06%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.41 earnings per share. On average, analysts anticipate that Allergan PLC will post $13.94 EPS for the current year.
A number of institutional investors have recently modified their holdings of AGN. A.R.T. Advisors LLC raised its position in shares of Allergan PLC by 263.5% in the first quarter. A.R.T. Advisors LLC now owns 26,625 shares of the company’s stock worth $7,136,000 after buying an additional 19,300 shares during the period. Orbis Allan Gray Ltd acquired a new position in shares of Allergan PLC during the first quarter worth about $41,241,000. EFG Asset Management Americas Corp. raised its position in shares of Allergan PLC by 22.5% in the first quarter. EFG Asset Management Americas Corp. now owns 14,399 shares of the company’s stock worth $3,859,000 after buying an additional 2,643 shares during the period. Vernier Capital Partners LP acquired a new position in shares of Allergan PLC during the first quarter worth about $11,260,000. Finally, Wealthsource Partners LLC purchased a new position in shares of Allergan PLC during the first quarter worth about $413,000. 85.27% of the stock is owned by institutional investors and hedge funds.
Allergan PLC 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.
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