Allergan PLC.’s (AGN) “Buy” Rating Reaffirmed at Citigroup Inc.
Allergan PLC. (NYSE:AGN)‘s stock had its “buy” rating reaffirmed by Citigroup Inc. in a research note issued to investors on Wednesday. They presently have a $280.00 target price on the stock. Citigroup Inc.’s target price would indicate a potential upside of 30.23% from the company’s previous close.
AGN has been the topic of several other reports. Cowen and Company set a $400.00 price objective on Allergan PLC. and gave the company a “buy” rating in a research report on Thursday, June 8th. Sanford C. Bernstein reissued an “outperform” rating on shares of Allergan PLC. in a report on Thursday, May 25th. Mizuho lowered their price target on Allergan PLC. from $275.00 to $267.00 and set a “buy” rating on the stock in a report on Friday, June 9th. Royal Bank Of Canada reissued a “buy” rating and set a $285.00 price target on shares of Allergan PLC. in a report on Wednesday, September 6th. Finally, Cantor Fitzgerald began coverage on Allergan PLC. in a report on Friday, June 16th. They set a “neutral” rating and a $231.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $273.34.
Shares of Allergan PLC. (NYSE:AGN) traded down 2.495% during mid-day trading on Wednesday, reaching $209.635. The company had a trading volume of 3,914,471 shares. Allergan PLC. has a one year low of $184.50 and a one year high of $256.80. The company has a 50 day moving average price of $229.79 and a 200 day moving average price of $236.07. The company has a market capitalization of $70.08 billion, a price-to-earnings ratio of 6.387 and a beta of 1.18.
Allergan PLC. (NYSE:AGN) last released its quarterly earnings data on Thursday, August 3rd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.95 by $0.07. The business had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.35 EPS. On average, analysts anticipate that Allergan PLC. will post $16.25 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in AGN. Waldron LP bought a new stake in Allergan PLC. in the first quarter worth about $348,000. Pillar Pacific Capital Management LLC lifted its stake in Allergan PLC. by 11.0% in the first quarter. Pillar Pacific Capital Management LLC now owns 18,070 shares of the company’s stock worth $4,318,000 after purchasing an additional 1,797 shares during the last quarter. Chicago Equity Partners LLC lifted its stake in Allergan PLC. by 1,614.8% in the first quarter. Chicago Equity Partners LLC now owns 26,150 shares of the company’s stock worth $6,248,000 after purchasing an additional 24,625 shares during the last quarter. Trust Investment Advisors lifted its stake in Allergan PLC. by 9.1% in the first quarter. Trust Investment Advisors now owns 2,345 shares of the company’s stock worth $560,000 after purchasing an additional 196 shares during the last quarter. Finally, Wrapmanager Inc. lifted its stake in Allergan PLC. by 8.1% in the first quarter. Wrapmanager Inc. now owns 7,770 shares of the company’s stock worth $1,856,000 after purchasing an additional 581 shares during the last quarter. 82.02% of the stock is owned by institutional investors and hedge funds.
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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