Allergan PLC. (NYSE:AGN) Price Target Cut to $221.00 by Analysts at Royal Bank Of Canada

Allergan PLC. (NYSE:AGN) had its price objective lowered by Royal Bank Of Canada from $250.00 to $221.00 in a research report issued to clients and investors on Thursday, November 2nd, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 27.69% from the stock’s previous close.

Several other equities analysts have also issued reports on the stock. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $280.00 price target (up from $270.00) on shares of Allergan PLC. in a report on Wednesday, August 9th. UBS AG reiterated an “outperform” rating and set a $275.00 price objective on shares of Allergan PLC. in a research note on Wednesday, August 9th. Piper Jaffray Companies set a $227.00 price objective on shares of Allergan PLC. and gave the stock a “hold” rating in a research note on Friday, October 13th. Argus restated a “buy” rating and set a $280.00 target price on shares of Allergan PLC. in a research report on Monday, August 14th. Finally, BidaskClub downgraded shares of Allergan PLC. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $246.73.

Shares of Allergan PLC. (NYSE:AGN) traded up $1.25 during midday trading on Thursday, reaching $173.07. 1,297,095 shares of the company’s stock traded hands, compared to its average volume of 2,913,987. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. Allergan PLC. has a twelve month low of $169.61 and a twelve month high of $256.80. The company has a market capitalization of $57,140.00, a P/E ratio of 11.31, a P/E/G ratio of 1.11 and a beta of 1.12.

Allergan PLC. (NYSE:AGN) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.06 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.04 billion. Allergan PLC. had a negative net margin of 47.27% and a positive return on equity of 8.00%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.32 earnings per share. research analysts predict that Allergan PLC. will post 16.28 earnings per share for the current fiscal year.

Allergan PLC. declared that its Board of Directors has initiated a share buyback plan on Monday, September 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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A number of hedge funds and other institutional investors have recently modified their holdings of AGN. Veritas Asset Management LLP acquired a new stake in Allergan PLC. in the 1st quarter valued at about $761,339,000. Edgewood Management LLC lifted its holdings in Allergan PLC. by 24.3% in the 3rd quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock valued at $911,192,000 after acquiring an additional 869,248 shares during the last quarter. Baupost Group LLC MA lifted its holdings in Allergan PLC. by 21.9% in the 3rd quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock valued at $607,513,000 after acquiring an additional 531,600 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Allergan PLC. in the 1st quarter valued at about $124,255,000. Finally, Asset Management One Co. Ltd. lifted 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 valued at $103,108,000 after buying an additional 492,930 shares in the last quarter. 81.21% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Allergan PLC. (NYSE:AGN)

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