Allergan (AGN) Stock Rating Upgraded by Barclays

Allergan (NYSE:AGN) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, The Fly reports.

AGN has been the subject of a number of other research reports. Piper Jaffray Companies set a $227.00 target price on shares of Allergan and gave the stock a “hold” rating in a report on Friday, October 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price (down previously from $277.00) on shares of Allergan in a report on Thursday, October 19th. They noted that the move was a valuation call. Leerink Swann reaffirmed an “outperform” rating and set a $237.00 target price on shares of Allergan in a report on Monday, November 27th. Vetr cut shares of Allergan from a “buy” rating to a “hold” rating and set a $180.97 price target on the stock. in a research report on Wednesday, January 10th. Finally, Wells Fargo & Co reissued an “outperform” rating and set a $245.00 price target (down from $258.00) on shares of Allergan in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $227.43.

Shares of Allergan (NYSE:AGN) opened at $186.93 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. The firm has a market cap of $62,169.76, a P/E ratio of -8.31, a P/E/G ratio of 1.38 and a beta of 1.11. Allergan has a fifty-two week low of $160.07 and a fifty-two week high of $256.80.

Allergan (NYSE:AGN) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.06 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.04 billion. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. Allergan’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.32 earnings per share. research analysts expect that Allergan will post 16.27 EPS for the current year.

In related news, insider William Meury sold 11,807 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $173.89, for a total value of $2,053,119.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher J. Coughlin acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was bought at an average cost of $163.30 per share, for a total transaction of $1,633,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 17,630 shares of company stock worth $2,890,057 over the last ninety days. 0.36% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AGN. Howard Hughes Medical Institute bought a new stake in Allergan during the 2nd quarter worth about $103,000. Cable Hill Partners LLC lifted its position in Allergan by 255.2% during the 3rd quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock worth $106,000 after buying an additional 370 shares in the last quarter. Rockefeller Financial Services Inc. lifted its position in Allergan by 283.7% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock worth $111,000 after buying an additional 400 shares in the last quarter. Massey Quick & Co. LLC lifted its position in Allergan by 334.8% during the 2nd quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock worth $122,000 after buying an additional 385 shares in the last quarter. Finally, Pacific Center for Financial Services lifted its position in Allergan by 1.3% during the 2nd quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock worth $132,000 after buying an additional 7 shares in the last quarter. 81.21% of the stock is currently owned by institutional investors and hedge funds.

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About Allergan

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.

The Fly

Analyst Recommendations for Allergan (NYSE:AGN)

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