Allergan (AGN) Stock Rating Reaffirmed by Wells Fargo & Co

Allergan (NYSE:AGN)‘s stock had its “buy” rating restated by Wells Fargo & Co in a report released on Wednesday.

Several other equities analysts also recently weighed in on the company. Raymond James restated a “buy” rating and set a $232.00 price target (up from $211.00) on shares of Allergan in a report on Monday, September 17th. Cantor Fitzgerald restated a “hold” rating and set a $180.00 price target on shares of Allergan in a report on Friday, September 14th. Zacks Investment Research downgraded Allergan from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. ValuEngine upgraded Allergan from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. Finally, TheStreet upgraded Allergan from a “d+” rating to a “c” rating in a report on Monday, August 20th. 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. The company has a consensus rating of “Buy” and an average price target of $210.18.

Shares of NYSE:AGN traded down $2.66 on Wednesday, hitting $158.01. 4,121,561 shares of the company traded hands, compared to its average volume of 1,762,685. Allergan has a 52 week low of $142.81 and a 52 week high of $197.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 0.85. The company has a market capitalization of $60.15 billion, a PE ratio of 9.66, a PEG ratio of 1.34 and a beta of 1.19.

Allergan (NYSE:AGN) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.04 by $0.21. Allergan had a positive return on equity of 8.60% and a negative net margin of 10.29%. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the company earned $4.15 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that Allergan will post 16.34 earnings per share for the current fiscal year.

In other news, Director Joseph H. Boccuzi bought 900 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were acquired at an average cost of $190.59 per share, with a total value of $171,531.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher J. Coughlin bought 10,000 shares of the company’s stock in a transaction on Thursday, September 6th. The stock was purchased at an average cost of $190.64 per share, for a total transaction of $1,906,400.00. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in AGN. Stonebridge Capital Management Inc. boosted its position in Allergan by 14.8% in the second quarter. Stonebridge Capital Management Inc. now owns 6,596 shares of the company’s stock worth $1,136,000 after purchasing an additional 850 shares during the last quarter. XR Securities LLC purchased a new position in shares of Allergan during the 2nd quarter valued at about $2,453,000. Kempner Capital Management Inc. purchased a new position in shares of Allergan during the 2nd quarter valued at about $1,432,000. DAVENPORT & Co LLC lifted its position in shares of Allergan by 75.1% during the 2nd quarter. DAVENPORT & Co LLC now owns 2,282 shares of the company’s stock valued at $380,000 after buying an additional 979 shares in the last quarter. Finally, Fulton Bank N.A. lifted its position in shares of Allergan by 5.8% during the 2nd quarter. Fulton Bank N.A. now owns 8,734 shares of the company’s stock valued at $1,457,000 after buying an additional 479 shares in the last quarter. 77.58% of the stock is currently owned by institutional investors and hedge funds.

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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