Allergan (NYSE:AGN) Downgraded by UBS Group to Neutral

Allergan (NYSE:AGN) was downgraded by UBS Group from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, The Fly reports.

AGN has been the topic of several other reports. Wells Fargo & Co restated an “outperform” rating and issued a $184.00 price target (up from $176.00) on shares of Allergan in a research note on Monday, September 30th. Cantor Fitzgerald upped their price target on shares of Allergan from $125.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reaffirmed a “hold” rating and set a $178.00 price objective on shares of Allergan in a research report on Thursday, August 8th. Barclays upped their price objective on shares of Allergan from $176.00 to $188.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Guggenheim cut shares of Allergan from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $175.16.

AGN stock opened at $184.50 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 1.00. The company’s 50-day simple moving average is $174.41 and its 200 day simple moving average is $157.50. Allergan has a 52 week low of $114.27 and a 52 week high of $184.92. The company has a market capitalization of $60.28 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 2.17 and a beta of 1.66.

Allergan (NYSE:AGN) last released its quarterly earnings results on Tuesday, November 5th. The company reported $4.25 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $4.25. Allergan had a negative net margin of 58.50% and a positive return on equity of 9.08%. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the prior year, the company posted $4.25 earnings per share. Allergan’s revenue was up 2.9% compared to the same quarter last year. On average, analysts forecast that Allergan will post 16.87 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of AGN. Nuveen Asset Management LLC raised its holdings in Allergan by 1,665.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,104,662 shares of the company’s stock valued at $519,813,000 after buying an additional 2,928,846 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Allergan by 415.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,777,375 shares of the company’s stock valued at $299,114,000 after buying an additional 1,432,555 shares during the last quarter. Magnetar Financial LLC raised its holdings in Allergan by 7,332.9% in the 2nd quarter. Magnetar Financial LLC now owns 966,272 shares of the company’s stock valued at $161,783,000 after buying an additional 953,272 shares during the last quarter. OZ Management LP bought a new position in Allergan in the 2nd quarter valued at approximately $150,878,000. Finally, Paulson & CO. Inc. raised its holdings in Allergan by 45.2% in the 2nd quarter. Paulson & CO. Inc. now owns 2,249,500 shares of the company’s stock valued at $376,634,000 after buying an additional 700,000 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Allergan Company Profile

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.

Read More: What is the G-20?

The Fly

Analyst Recommendations for Allergan (NYSE:AGN)

Receive News & Ratings for Allergan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan and related companies with MarketBeat.com's FREE daily email newsletter.