Allergan (AGN) PT Set at $255.00 by Cowen

Cowen set a $255.00 target price on Allergan (NYSE:AGN) in a research report released on Tuesday morning. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the company. ValuEngine lowered Allergan from a hold rating to a sell rating in a report on Wednesday. Royal Bank of Canada set a $220.00 target price on Allergan and gave the company a buy rating in a report on Wednesday, October 24th. Wells Fargo & Co restated a buy rating on shares of Allergan in a report on Wednesday, October 17th. Guggenheim assumed coverage on Allergan in a report on Monday, October 8th. They set a buy rating on the stock. Finally, Zacks Investment Research lowered Allergan from a hold rating to a sell rating in a report on Wednesday, October 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Allergan has a consensus rating of Buy and an average target price of $210.18.

AGN opened at $163.05 on Tuesday. The firm has a market cap of $53.64 billion, a P/E ratio of 9.15, a PEG ratio of 1.27 and a beta of 1.30. Allergan has a 1 year low of $142.81 and a 1 year high of $197.00. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.33.

Allergan (NYSE:AGN) last released its quarterly earnings data on Tuesday, October 30th. The company reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.04 by $0.21. Allergan had a return on equity of 8.44% and a net margin of 14.50%. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the firm earned $4.15 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, analysts predict that Allergan will post 16.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 13th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.77%. Allergan’s payout ratio is presently 17.61%.

In other Allergan news, Director Joseph H. Boccuzi acquired 900 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were acquired at an average cost of $190.59 per share, for a total transaction of $171,531.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher J. Coughlin acquired 10,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The stock was acquired at an average price of $190.64 per share, for a total transaction of $1,906,400.00. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Flagship Harbor Advisors LLC bought a new position in Allergan during the second quarter valued at about $129,000. Gradient Investments LLC increased its stake in Allergan by 747.5% during the third quarter. Gradient Investments LLC now owns 678 shares of the company’s stock valued at $129,000 after acquiring an additional 598 shares during the period. Kaizen Advisory LLC increased its stake in Allergan by 156.2% during the second quarter. Kaizen Advisory LLC now owns 830 shares of the company’s stock valued at $138,000 after acquiring an additional 506 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in Allergan by 3,193.3% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 988 shares of the company’s stock valued at $165,000 after acquiring an additional 958 shares during the period. Finally, Aries Wealth Management bought a new position in Allergan during the second quarter valued at about $202,000. Institutional investors and hedge funds own 77.58% 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. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.

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Analyst Recommendations for Allergan (NYSE:AGN)

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