Goldman Sachs Group Inc. Reiterates Buy Rating for Allergan PLC (AGN)
Allergan PLC (NYSE:AGN)‘s stock had its “buy” rating reaffirmed by investment analysts at Goldman Sachs Group Inc. in a research note issued on Tuesday. They currently have a $300.00 price objective on the stock. Goldman Sachs Group Inc.’s target price would indicate a potential upside of 26.16% from the stock’s current price.
Several other research firms have also issued reports on AGN. Mizuho reissued a “buy” rating and issued a $305.00 target price on shares of Allergan PLC in a report on Wednesday, September 14th. Bank of America Corp. set a $294.00 target price on shares of Allergan PLC and gave the stock a “buy” rating in a report on Tuesday, September 20th. Piper Jaffray Cos. reissued a “hold” rating and issued a $236.00 target price on shares of Allergan PLC in a report on Saturday, June 18th. Credit Suisse Group AG set a $322.00 target price on shares of Allergan PLC and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Finally, Vetr lowered shares of Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $275.94 target price for the company. in a report on Thursday, June 2nd. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $309.68.
Allergan PLC (NYSE:AGN) opened at 237.79 on Tuesday. Allergan PLC has a 1-year low of $195.50 and a 1-year high of $322.68. The firm’s 50 day moving average is $243.59 and its 200 day moving average is $241.22. The stock has a market capitalization of $94.15 billion, a P/E ratio of 22.64 and a beta of 0.73.
Allergan PLC (NYSE:AGN) last released its earnings results on Monday, August 8th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.34 by $0.01. The company earned $3.68 billion during the quarter, compared to analyst estimates of $4.10 billion. Allergan PLC had a net margin of 28.06% and a return on equity of 7.67%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.41 EPS. On average, equities research analysts anticipate that Allergan PLC will post $14.00 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. Barnett & Company Inc. purchased a new position in shares of Allergan PLC during the first quarter valued at approximately $111,000. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Allergan PLC during the second quarter valued at approximately $125,000. Trust Co. of Vermont raised its position in shares of Allergan PLC by 19.5% in the second quarter. Trust Co. of Vermont now owns 545 shares of the company’s stock valued at $126,000 after buying an additional 89 shares in the last quarter. Ropes Wealth Advisors LLC raised its position in shares of Allergan PLC by 13.2% in the first quarter. Ropes Wealth Advisors LLC now owns 497 shares of the company’s stock valued at $133,000 after buying an additional 58 shares in the last quarter. Finally, Integrated Investment Consultants LLC raised its position in shares of Allergan PLC by 35.2% in the second quarter. Integrated Investment Consultants LLC now owns 592 shares of the company’s stock valued at $137,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 85.19% 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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