Allergan PLC. (NYSE:AGN) had its target price reduced by equities researchers at Cantor Fitzgerald to $191.00 in a note issued to investors on Thursday, November 2nd. The firm presently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 11.23% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Allergan PLC. in a research note on Wednesday, September 6th. Credit Suisse Group set a $243.00 price objective on shares of Allergan PLC. and gave the stock an “outperform” rating in a report on Tuesday, October 17th. Citigroup Inc. decreased their price objective on shares of Allergan PLC. from $280.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, October 19th. BidaskClub lowered shares of Allergan PLC. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Allergan PLC. in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. Allergan PLC. currently has an average rating of “Hold” and a consensus price target of $246.73.
Allergan PLC. (NYSE:AGN) traded down $0.10 during midday trading on Thursday, hitting $171.72. 250,351 shares of the stock traded hands, compared to its average volume of 2,913,987. Allergan PLC. has a one year low of $169.61 and a one year high of $256.80. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $58,005.82, a price-to-earnings ratio of 11.31, a P/E/G ratio of 1.11 and a beta of 1.13.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, beating the consensus estimate of $4.06 by $0.09. Allergan PLC. had a negative net margin of 47.27% and a positive return on equity of 8.00%. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the company earned $3.32 earnings per share. Allergan PLC.’s revenue for the quarter was up 11.4% on a year-over-year basis. equities research analysts expect that Allergan PLC. will post 16.28 earnings per share for the current fiscal year.
Allergan PLC. announced that its board has approved a share buyback program on Monday, September 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of AGN. Fairbanks Capital Management Inc. raised its holdings in shares of Allergan PLC. by 20.9% in the third quarter. Fairbanks Capital Management Inc. now owns 6,627 shares of the company’s stock worth $1,358,000 after acquiring an additional 1,147 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Allergan PLC. by 525.4% in the third quarter. Cubist Systematic Strategies LLC now owns 8,731 shares of the company’s stock valued at $1,789,000 after purchasing an additional 7,335 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Allergan PLC. in the third quarter valued at $92,182,000. Bank of Nova Scotia Trust Co. increased its stake in Allergan PLC. by 33.4% in the third quarter. Bank of Nova Scotia Trust Co. now owns 6,003 shares of the company’s stock valued at $1,230,000 after purchasing an additional 1,503 shares during the last quarter. Finally, Zions Bancorporation increased its stake in Allergan PLC. by 1,115.6% in the third quarter. Zions Bancorporation now owns 936 shares of the company’s stock valued at $192,000 after purchasing an additional 859 shares during the last quarter. Institutional investors own 81.21% of the company’s stock.
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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