A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada set a $140.00 target price on shares of Allergan and gave the company a “hold” rating in a research note on Thursday, May 30th. Goldman Sachs Group assumed coverage on shares of Allergan in a research note on Tuesday, May 28th. They issued a “neutral” rating and a $154.00 target price on the stock. SunTrust Banks cut their target price on shares of Allergan from $178.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. They noted that the move was a valuation call. Raymond James cut their target price on shares of Allergan from $181.00 to $166.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Finally, UBS Group cut their target price on shares of Allergan from $173.00 to $172.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $175.30.
Shares of Allergan stock opened at $122.27 on Tuesday. The stock has a market capitalization of $40.59 billion, a PE ratio of 7.33, a P/E/G ratio of 1.16 and a beta of 1.39. The company has a current ratio of 0.71, a quick ratio of 0.60 and a debt-to-equity ratio of 0.32. Allergan has a 1 year low of $120.68 and a 1 year high of $197.00.
Allergan (NYSE:AGN) last issued its earnings results on Tuesday, May 7th. The company reported $3.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.55 by $0.24. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.55 billion. Allergan had a negative net margin of 45.94% and a positive return on equity of 8.45%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.74 EPS. Sell-side analysts forecast that Allergan will post 16.68 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wesbanco Bank Inc. grew its position in Allergan by 6.8% in the 1st quarter. Wesbanco Bank Inc. now owns 4,950 shares of the company’s stock worth $725,000 after purchasing an additional 316 shares during the last quarter. Nomura Holdings Inc. grew its position in Allergan by 9.2% in the 4th quarter. Nomura Holdings Inc. now owns 30,522 shares of the company’s stock worth $4,074,000 after purchasing an additional 2,580 shares during the last quarter. American Century Companies Inc. grew its position in Allergan by 21.1% in the 4th quarter. American Century Companies Inc. now owns 1,235,389 shares of the company’s stock worth $165,122,000 after purchasing an additional 214,955 shares during the last quarter. Cetera Investment Advisers bought a new position in Allergan in the 1st quarter worth about $233,000. Finally, Institute for Wealth Management LLC. bought a new position in Allergan in the 4th quarter worth about $716,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.
Allergan Company Profile
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.
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