Analysts Set Allergan plc (NYSE:AGN) PT at $179.84

Shares of Allergan plc (NYSE:AGN) have received a consensus recommendation of “Hold” from the twenty-four brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, sixteen have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $179.84.

AGN has been the subject of a number of analyst reports. Leerink Swann lowered Allergan from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $217.00 to $188.00 in a research report on Thursday, July 18th. TheStreet upgraded Allergan from a “d+” rating to a “c” rating in a report on Friday, July 12th. Guggenheim lowered Allergan from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada restated a “hold” rating and issued a $178.00 price objective on shares of Allergan in a report on Thursday, August 8th. Finally, Barclays upped their price objective on Allergan from $176.00 to $188.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th.

AGN stock traded down $1.07 during trading on Monday, reaching $173.93. 2,179,730 shares of the company’s stock were exchanged, compared to its average volume of 3,303,661. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 0.34. Allergan has a 1-year low of $114.27 and a 1-year high of $182.55. The company’s fifty day moving average price is $167.92 and its 200-day moving average price is $153.31. The firm has a market cap of $57.39 billion, a PE ratio of 10.42, a P/E/G ratio of 2.07 and a beta of 1.65.

Allergan (NYSE:AGN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $4.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.34 by $0.04. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the firm posted $4.42 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, sell-side analysts expect that Allergan will post 16.68 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in AGN. Nuveen Asset Management LLC raised its position in shares of Allergan by 1,665.9% during the second quarter. Nuveen Asset Management LLC now owns 3,104,662 shares of the company’s stock worth $519,813,000 after purchasing an additional 2,928,846 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Allergan by 415.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,777,375 shares of the company’s stock worth $299,114,000 after purchasing an additional 1,432,555 shares during the period. Magnetar Financial LLC raised its position in shares of Allergan by 7,332.9% during the second quarter. Magnetar Financial LLC now owns 966,272 shares of the company’s stock worth $161,783,000 after purchasing an additional 953,272 shares during the period. OZ Management LP acquired a new stake in shares of Allergan during the second quarter worth $150,878,000. Finally, Paulson & CO. Inc. raised its position in shares of Allergan by 45.2% during the second quarter. Paulson & CO. Inc. now owns 2,249,500 shares of the company’s stock worth $376,634,000 after purchasing an additional 700,000 shares during the period. 80.52% of the stock is currently owned by institutional investors.

About Allergan

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.

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Analyst Recommendations for Allergan (NYSE:AGN)

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