Allergan PLC. (AGN) PT Set at $243.00 by Credit Suisse Group
Allergan PLC. (NYSE:AGN) has been assigned a $243.00 price target by Credit Suisse Group in a report released on Tuesday. The firm presently has an “outperform” rating on the stock. Credit Suisse Group’s target price points to a potential upside of 29.84% from the stock’s previous close.
Other research analysts have also issued research reports about the company. Royal Bank Of Canada set a $285.00 target price on Allergan PLC. and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Deutsche Bank AG reiterated a “buy” rating and issued a $278.00 target price (up previously from $273.00) on shares of Allergan PLC. in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 target price for the company in a research report on Tuesday, July 11th. BidaskClub upgraded Allergan PLC. from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Mizuho reiterated a “buy” rating and issued a $267.00 target price on shares of Allergan PLC. in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. Allergan PLC. currently has an average rating of “Hold” and a consensus target price of $266.69.
Allergan PLC. (NYSE:AGN) opened at 187.15 on Tuesday. The stock’s 50 day moving average price is $213.47 and its 200-day moving average price is $231.01. Allergan PLC. has a 12 month low of $184.50 and a 12 month high of $256.80. The firm has a market capitalization of $62.57 billion, a P/E ratio of 5.70 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, beating analysts’ consensus estimates of $3.95 by $0.07. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter last year, the firm earned $3.35 EPS. Allergan PLC.’s quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts forecast that Allergan PLC. will post $16.20 earnings per share for the current year.
Allergan PLC. announced that its Board of Directors has authorized a stock repurchase plan on Monday, September 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 2.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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A number of institutional investors have recently made changes to their positions in AGN. Veritas Asset Management LLP bought a new stake in Allergan PLC. during the 1st quarter valued at $761,339,000. Iridian Asset Management LLC CT raised its stake in Allergan PLC. by 141.3% during the 1st quarter. Iridian Asset Management LLC CT now owns 1,283,833 shares of the company’s stock valued at $306,733,000 after acquiring an additional 751,848 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Allergan PLC. during the 1st quarter valued at $124,255,000. Vanguard Group Inc. raised its stake in Allergan PLC. by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock valued at $5,551,128,000 after acquiring an additional 482,220 shares in the last quarter. Finally, Blue Ridge Capital L.L.C. raised its stake in Allergan PLC. by 24.1% during the 1st quarter. Blue Ridge Capital L.L.C. now owns 1,909,900 shares of the company’s stock valued at $456,313,000 after acquiring an additional 370,400 shares in the last quarter. 81.94% of the stock is currently owned by hedge funds and other institutional investors.
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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