Cowen Analysts Give Allergan (AGN) a $255.00 Price Target
Allergan (NYSE:AGN) has been given a $255.00 price target by investment analysts at Cowen in a report issued on Monday. The brokerage currently has a “buy” rating on the stock. Cowen’s price target suggests a potential upside of 53.91% from the company’s current price.
AGN has been the topic of several other research reports. Vetr cut shares of Allergan from a “hold” rating to a “sell” rating and set a $180.97 price target on the stock. in a research report on Monday, January 22nd. Credit Suisse Group set a $214.00 price target on shares of Allergan and gave the stock a “buy” rating in a research report on Monday, January 22nd. Morgan Stanley restated a “buy” rating on shares of Allergan in a research report on Wednesday, January 24th. Barclays upgraded shares of Allergan from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $220.00 to $230.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. Finally, ValuEngine cut shares of Allergan from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $222.83.
Shares of Allergan stock traded up $1.31 on Monday, hitting $165.68. 313,691 shares of the company traded hands, compared to its average volume of 3,155,720. The stock has a market cap of $57,256.43, a P/E ratio of 10.13, a PEG ratio of 1.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 1.06. Allergan has a 52 week low of $142.81 and a 52 week high of $256.80.
In related news, insider Maria Teresa Hilado bought 895 shares of the stock in a transaction dated Thursday, March 15th. The stock was purchased at an average cost of $167.39 per share, with a total value of $149,814.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Meury sold 58,879 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $160.62, for a total transaction of $9,457,144.98. The disclosure for this sale can be found here. Insiders have acquired 8,095 shares of company stock worth $1,258,081 in the last quarter. Company insiders own 0.37% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of AGN. Atlantic Trust Group LLC boosted its stake in shares of Allergan by 8.2% during the third quarter. Atlantic Trust Group LLC now owns 702,369 shares of the company’s stock valued at $143,950,000 after purchasing an additional 53,079 shares during the period. Prudential Financial Inc. boosted its stake in shares of Allergan by 1.1% during the third quarter. Prudential Financial Inc. now owns 1,366,552 shares of the company’s stock valued at $280,075,000 after purchasing an additional 14,440 shares during the period. Abner Herrman & Brock LLC boosted its stake in shares of Allergan by 16.6% during the fourth quarter. Abner Herrman & Brock LLC now owns 4,275 shares of the company’s stock valued at $699,000 after purchasing an additional 608 shares during the period. Confluence Investment Management LLC boosted its stake in shares of Allergan by 6.7% during the fourth quarter. Confluence Investment Management LLC now owns 340,131 shares of the company’s stock valued at $55,639,000 after purchasing an additional 21,245 shares during the period. Finally, Windward Capital Management Co. CA boosted its stake in shares of Allergan by 9.4% during the fourth quarter. Windward Capital Management Co. CA now owns 3,475 shares of the company’s stock valued at $568,000 after purchasing an additional 298 shares during the period. 77.95% of the stock is owned by hedge funds and other institutional investors.
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Allergan Company Profile
Allergan plc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes medical aesthetics, biosimilar, and over-the-counter pharmaceutical products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products that provide treatment for the central nervous system, gastroenterology, women's health and urology, ophthalmology, neurosciences, medical aesthetics, dermatology, plastic surgery, liver disease, inflammation, metabolic syndromes, and fibrosis, as well as Alzheimer's disease.
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