Allergan PLC. (NYSE:AGN) had its target price lowered by equities research analysts at Cantor Fitzgerald to $191.00 in a report issued on Thursday, November 2nd. The firm presently has a “neutral” rating on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 11.91% from the company’s current price.
Several other equities analysts have also commented on the stock. Morgan Stanley lowered shares of Allergan PLC. from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $284.00 to $228.00 in a research report on Wednesday, September 20th. J P Morgan Chase & Co set a $275.00 price target on shares of Allergan PLC. and gave the company a “buy” rating in a report on Sunday, October 22nd. Cowen and Company reiterated an “outperform” rating and issued a $400.00 target price on shares of Allergan PLC. in a research note on Tuesday, August 29th. Zacks Investment Research cut shares of Allergan PLC. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Wells Fargo & Company restated an “outperform” rating on shares of Allergan PLC. in a research note on Monday, September 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $246.73.
Allergan PLC. (NYSE:AGN) traded down $0.45 on Thursday, hitting $170.67. 2,957,291 shares of the stock traded hands, compared to its average volume of 2,910,291. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08. Allergan PLC. has a 1 year low of $169.61 and a 1 year high of $256.80. The stock has a market capitalization of $56,910.00, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.12.
Allergan PLC. declared that its Board of Directors has approved a share repurchase program on Monday, September 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
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A number of large investors have recently modified their holdings of AGN. Veritas Asset Management LLP purchased a new position in shares of Allergan PLC. in the first quarter valued at about $761,339,000. Edgewood Management LLC increased its position in shares of Allergan PLC. by 24.3% during the third quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock valued at $911,192,000 after buying an additional 869,248 shares during the period. Baupost Group LLC MA increased its position in shares of Allergan PLC. by 21.9% during the third quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock valued at $607,513,000 after buying an additional 531,600 shares during the period. Renaissance Technologies LLC bought a new stake in Allergan PLC. during the first quarter worth about $124,255,000. Finally, Asset Management One Co. Ltd. boosted its stake in Allergan PLC. by 4,852.6% during the third quarter. Asset Management One Co. Ltd. now owns 503,088 shares of the company’s stock worth $103,108,000 after acquiring an additional 492,930 shares in the last quarter. Institutional investors own 81.65% of the company’s stock.
Allergan PLC. Company Profile
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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