Investment analysts at Jefferies Financial Group initiated coverage on shares of Allergan (NYSE:AGN) in a note issued to investors on Monday, The Fly reports. The firm set a “hold” rating on the stock.
A number of other brokerages have also weighed in on AGN. Leerink Swann set a $217.00 target price on shares of Allergan and gave the company a “buy” rating in a research note on Thursday, March 7th. Credit Suisse Group lowered shares of Allergan from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $197.00 to $161.00 in a research note on Thursday, January 31st. ValuEngine lowered shares of Allergan from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 4th. Zacks Investment Research lowered Allergan from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Finally, TheStreet lowered Allergan from a “c” rating to a “d+” rating in a research note on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $190.30.
Shares of AGN opened at $144.95 on Monday. The firm has a market cap of $48.21 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 1.16 and a beta of 1.34. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.35. Allergan has a 1-year low of $125.84 and a 1-year high of $197.00.
Allergan announced that its board has approved a stock repurchase program on Tuesday, January 29th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, Chairman Brent L. Saunders bought 1,760 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was bought at an average price of $143.67 per share, with a total value of $252,859.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.08% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. JNBA Financial Advisors bought a new position in Allergan in the 4th quarter worth $30,000. Washington Trust Bank boosted its holdings in shares of Allergan by 166.7% during the 1st quarter. Washington Trust Bank now owns 240 shares of the company’s stock valued at $35,000 after purchasing an additional 150 shares during the last quarter. Bruderman Asset Management LLC bought a new position in shares of Allergan during the 4th quarter valued at about $49,000. Ruggie Capital Group bought a new position in shares of Allergan during the 4th quarter valued at about $53,000. Finally, Lindbrook Capital LLC bought a new position in shares of Allergan during the 4th quarter valued at about $55,000. 80.65% of the stock is owned by institutional investors.
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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