Deutsche Bank Analysts Give Allergan (AGN) a $210.00 Price Target
Allergan (NYSE:AGN) has been given a $210.00 price objective by equities researchers at Deutsche Bank in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective indicates a potential upside of 10.48% from the company’s current price.
Other analysts have also issued research reports about the company. Zacks Investment Research raised Allergan from a “hold” rating to a “buy” rating and set a $189.00 target price for the company in a research note on Monday, July 2nd. Credit Suisse Group set a $213.00 target price on Allergan and gave the stock a “buy” rating in a research note on Tuesday, June 12th. Bank of America upped their target price on Allergan from $209.00 to $213.00 and gave the stock a “buy” rating in a research note on Tuesday, June 12th. Sanford C. Bernstein set a $232.00 target price on Allergan and gave the stock a “buy” rating in a research note on Friday, June 8th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Allergan in a research note on Tuesday, June 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. Allergan has a consensus rating of “Buy” and an average target price of $210.10.
Shares of NYSE AGN opened at $190.08 on Wednesday. Allergan has a 12 month low of $142.81 and a 12 month high of $227.54. The company has a quick ratio of 0.85, a current ratio of 1.00 and a debt-to-equity ratio of 0.34. The stock has a market cap of $63.96 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.
In related news, Director Joseph H. Boccuzi acquired 900 shares of the stock in a transaction on Thursday, August 30th. The stock was purchased at an average price of $190.59 per share, for a total transaction of $171,531.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher J. Coughlin acquired 10,000 shares of the stock in a transaction on Thursday, September 6th. The stock was bought at an average price of $190.64 per share, with a total value of $1,906,400.00. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
A number of hedge funds have recently made changes to their positions in AGN. Parnassus Investments CA raised its holdings in shares of Allergan by 3.1% during the second quarter. Parnassus Investments CA now owns 1,844,804 shares of the company’s stock valued at $307,566,000 after acquiring an additional 55,029 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Allergan by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 3,545,557 shares of the company’s stock valued at $591,116,000 after acquiring an additional 99,490 shares in the last quarter. Arbor Wealth Management LLC raised its holdings in shares of Allergan by 92.8% during the first quarter. Arbor Wealth Management LLC now owns 13,846 shares of the company’s stock valued at $2,137,000 after acquiring an additional 6,663 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Allergan by 1.5% during the second quarter. Toronto Dominion Bank now owns 517,895 shares of the company’s stock valued at $90,451,000 after acquiring an additional 7,683 shares in the last quarter. Finally, HL Financial Services LLC raised its holdings in shares of Allergan by 32.2% during the second quarter. HL Financial Services LLC now owns 601,456 shares of the company’s stock valued at $100,275,000 after acquiring an additional 146,645 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
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