Analysts Set Allergan plc (AGN) Price Target at $270.78
Shares of Allergan plc (NYSE:AGN) have been given a consensus recommendation of “Buy” by the twenty research firms that are presently covering the company. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $265.64.
A number of equities analysts recently weighed in on the company. Sanford C. Bernstein set a $275.00 price objective on Allergan plc and gave the company a “buy” rating in a report on Sunday, December 25th. Citigroup Inc reissued a “focus list” rating and set a $261.27 price objective (up from $184.50) on shares of Allergan plc in a report on Friday. Royal Bank of Canada set a $279.00 price objective on Allergan plc and gave the company a “buy” rating in a report on Wednesday, April 12th. Vetr cut Allergan plc from a “hold” rating to a “sell” rating and set a $211.12 price objective on the stock. in a report on Thursday, January 5th. Finally, Deutsche Bank AG raised their price objective on Allergan plc from $262.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, March 28th.
In other news, Director Paul Bisaro sold 70,000 shares of the business’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $246.68, for a total value of $17,267,600.00. Following the completion of the transaction, the director now owns 274,226 shares in the company, valued at $67,646,069.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Allergan plc during the fourth quarter worth approximately $682,333,000. Appaloosa LP boosted its stake in Allergan plc by 249.8% in the fourth quarter. Appaloosa LP now owns 4,261,406 shares of the company’s stock worth $894,938,000 after buying an additional 3,043,097 shares during the period. Edgewood Management LLC purchased a new stake in Allergan plc during the fourth quarter worth approximately $530,518,000. Baupost Group LLC MA boosted its stake in Allergan plc by 71.5% in the fourth quarter. Baupost Group LLC MA now owns 3,432,603 shares of the company’s stock worth $720,881,000 after buying an additional 1,430,625 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in Allergan plc by 53.8% in the third quarter. Lazard Asset Management LLC now owns 3,017,790 shares of the company’s stock worth $695,025,000 after buying an additional 1,055,305 shares during the period. Institutional investors own 86.40% of the company’s stock.
Allergan plc (NYSE:AGN) traded down 0.67% during midday trading on Tuesday, hitting $236.35. 1,690,925 shares of the stock were exchanged. The company has a 50 day moving average price of $238.85 and a 200 day moving average price of $221.59. The firm has a market capitalization of $79.23 billion, a price-to-earnings ratio of 6.19 and a beta of 1.07. Allergan plc has a one year low of $184.50 and a one year high of $261.27.
Allergan plc (NYSE:AGN) last announced its quarterly earnings data on Wednesday, February 8th. The company reported $3.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.76 by $0.14. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Allergan plc had a return on equity of 7.21% and a net margin of 100.04%. Allergan plc’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $3.41 EPS. Equities analysts anticipate that Allergan plc will post $16.03 EPS for the current year.
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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