Allergan (AGN) Stock Rating Reaffirmed by Deutsche Bank

Allergan (NYSE:AGN)‘s stock had its “buy” rating reaffirmed by investment analysts at Deutsche Bank in a report released on Tuesday. They presently have a $215.00 target price on the stock. Deutsche Bank’s target price indicates a potential upside of 23.48% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Citigroup decreased their price objective on shares of Allergan to $215.00 and set a “buy” rating on the stock in a research report on Tuesday. Piper Jaffray Companies set a $227.00 price objective on shares of Allergan and gave the company a “hold” rating in a research report on Friday, October 13th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective (down previously from $277.00) on shares of Allergan in a research report on Thursday, October 19th. They noted that the move was a valuation call. Leerink Swann restated an “outperform” rating and issued a $237.00 price objective on shares of Allergan in a research report on Monday, November 27th. Finally, UBS Group restated a “buy” rating and issued a $275.00 price objective on shares of Allergan in a research report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Allergan presently has a consensus rating of “Hold” and an average price target of $227.60.

Shares of Allergan (AGN) traded up $3.56 during trading hours on Tuesday, reaching $174.12. 2,455,312 shares of the company were exchanged, compared to its average volume of 2,412,700. The stock has a market cap of $56,730.00, a PE ratio of -7.71, a PEG ratio of 1.18 and a beta of 1.11. Allergan has a one year low of $160.07 and a one year high of $256.80. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.18.

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

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

In related news, insider William Meury sold 11,807 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $173.89, for a total transaction of $2,053,119.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher J. Coughlin acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were acquired 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 have bought a total of 17,630 shares of company stock worth $2,890,057 in the last ninety days. Insiders own 0.36% of the company’s stock.

A number of large investors have recently bought and sold shares of AGN. Edgewood Management LLC boosted its stake in Allergan by 24.3% during the third quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock worth $911,192,000 after acquiring an additional 869,248 shares in the last quarter. Baupost Group LLC MA increased its holdings in Allergan 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 last quarter. Asset Management One Co. Ltd. increased its holdings in Allergan 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 during the last quarter. Vanguard Group Inc. increased its holdings in Allergan by 2.2% during the second quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock valued at $5,551,128,000 after buying an additional 482,220 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Allergan during the third quarter valued at approximately $92,182,000. 81.14% of the stock is currently owned by institutional investors and hedge funds.

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Allergan 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.

Analyst Recommendations for Allergan (NYSE:AGN)

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