RBC Capital Markets set a $279.00 target price on Allergan plc (NYSE:AGN) in a research note published on Tuesday morning. The firm currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. Credit Suisse Group reiterated a buy rating and set a $274.00 price objective on shares of Allergan plc in a report on Tuesday. Leerink Swann boosted their target price on shares of Allergan plc to $280.00 and gave the stock a buy rating in a research report on Thursday, February 9th. Mizuho reissued a buy rating and set a $275.00 target price (up from $273.00) on shares of Allergan plc in a research report on Tuesday, February 7th. Vetr downgraded shares of Allergan plc from a buy rating to a hold rating and set a $228.27 target price for the company. in a research report on Wednesday, February 1st. Finally, Goldman Sachs Group, Inc. (The) reissued a buy rating and set a $250.00 target price (up from $240.00) on shares of Allergan plc in a research report on Wednesday, January 18th. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $272.01.

Shares of Allergan plc (NYSE:AGN) opened at 246.93 on Tuesday. The firm has a market capitalization of $92.62 billion, a P/E ratio of 6.47 and a beta of 1.07. The firm’s 50-day moving average is $224.03 and its 200 day moving average is $223.04. Allergan plc has a 12 month low of $184.50 and a 12 month high of $301.32.

Allergan plc (NYSE:AGN) last announced its quarterly earnings data on Wednesday, February 8th. The company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.14. Allergan plc had a net margin of 100.04% and a return on equity of 7.21%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business earned $3.41 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that Allergan plc will post $16.04 EPS for the current year.

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In related news, CEO Brent L. Saunders bought 5,250 shares of Allergan plc stock in a transaction dated Monday, November 21st. The stock was purchased at an average cost of $189.13 per share, with a total value of $992,932.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nesli Basgoz sold 500 shares of the stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $188.72, for a total transaction of $94,360.00. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGN. Edgewood Management LLC bought a new position in Allergan plc during the fourth quarter worth $530,518,000. Veritas Asset Management LLP bought a new position in Allergan plc during the second quarter worth $492,177,000. Lazard Asset Management LLC increased its position in Allergan plc by 53.8% in the third quarter. Lazard Asset Management LLC now owns 3,017,790 shares of the company’s stock worth $695,025,000 after buying an additional 1,055,305 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Allergan plc during the third quarter worth $230,322,000. Finally, Russell Investments Group Ltd. bought a new position in Allergan plc during the fourth quarter worth $155,955,000. 86.40% of the stock is owned by hedge funds and other institutional investors.

About Allergan plc

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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