Allergan PLC (AGN) Price Target Cut to $299.00 by Analysts at Mizuho
A number of other research analysts have also weighed in on AGN. 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. RBC Capital Markets reissued an outperform rating and issued a $300.00 target price (down from $307.00) on shares of Allergan PLC in a report on Wednesday, August 10th. Deutsche Bank AG cut their target price on shares of Allergan PLC from $282.00 to $278.00 and set a buy rating for the company in a report on Tuesday, August 9th. Morgan Stanley reissued an overweight rating on shares of Allergan PLC in a report on Wednesday, June 29th. Finally, Royal Bank Of Canada cut their target price on shares of Allergan PLC from $307.00 to $300.00 and set an outperform rating for the company in a report on Tuesday, August 9th. Six analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $302.23.
Shares of Allergan PLC (NYSE:AGN) traded down 2.07% on Tuesday, reaching $233.02. 1,585,506 shares of the company’s stock traded hands. The stock has a 50-day moving average of $239.23 and a 200 day moving average of $238.48. The firm has a market cap of $92.26 billion, a P/E ratio of 22.19 and a beta of 0.81. Allergan PLC has a 12-month low of $195.50 and a 12-month high of $322.68.
Allergan PLC (NYSE:AGN) last posted its earnings results on Monday, August 8th. The company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.34 by $0.01. Allergan PLC had a net margin of 28.06% and a return on equity of 7.67%. The firm earned $3.68 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period last year, the firm posted $4.41 earnings per share. Allergan PLC’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts expect that Allergan PLC will post $14.00 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Nikko Asset Management Americas Inc. acquired a new position in shares of Allergan PLC during the first quarter valued at $825,000. Adell Harriman & Carpenter Inc. increased its position in shares of Allergan PLC by 9.1% in the first quarter. Adell Harriman & Carpenter Inc. now owns 7,607 shares of the company’s stock valued at $2,039,000 after buying an additional 634 shares during the last quarter. Shufro Rose & Co. LLC acquired a new position in shares of Allergan PLC during the first quarter valued at $200,000. Stillwater Investment Management L.P. acquired a new position in shares of Allergan PLC during the first quarter valued at $13,428,000. Finally, M&T Bank Corp increased its position in shares of Allergan PLC by 10.0% in the first quarter. M&T Bank Corp now owns 69,398 shares of the company’s stock valued at $18,600,000 after buying an additional 6,297 shares during the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.
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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