Allergan (NYSE:AGN) Price Target Raised to $188.00 at Barclays

Allergan (NYSE:AGN) had its price objective hoisted by Barclays from $176.00 to $188.00 in a research report sent to investors on Wednesday morning, The Fly reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts have also issued reports on AGN. Mizuho lowered shares of Allergan from a buy rating to a neutral rating and upped their target price for the stock from $171.00 to $188.00 in a report on Wednesday, June 26th. Royal Bank of Canada set a $178.00 target price on shares of Allergan and gave the stock a hold rating in a report on Wednesday, June 26th. Guggenheim lowered shares of Allergan from a buy rating to a neutral rating in a report on Wednesday. Sanford C. Bernstein lowered shares of Allergan from an outperform rating to a market perform rating and set a $166.08 target price for the company. in a report on Tuesday, July 16th. Finally, TheStreet raised shares of Allergan from a d+ rating to a c rating in a report on Friday, July 12th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $180.00.

Allergan stock opened at $159.84 on Wednesday. Allergan has a 52-week low of $114.27 and a 52-week high of $197.00. The stock has a market capitalization of $52.07 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 1.49 and a beta of 1.63. The business’s fifty day simple moving average is $161.32. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.69 and a quick ratio of 0.60.

Allergan (NYSE:AGN) last released its 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 negative net margin of 54.25% and a positive return on equity of 8.73%. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the prior year, the firm earned $4.42 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts expect that Allergan will post 16.64 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 13th will be given a dividend of $0.74 per share. The ex-dividend date is Monday, August 12th. This represents a $2.96 annualized dividend and a dividend yield of 1.85%. Allergan’s payout ratio is 17.74%.

Hedge funds have recently made changes to their positions in the company. Liberty Wealth Management LLC lifted its position in Allergan by 35.3% in the second quarter. Liberty Wealth Management LLC now owns 257 shares of the company’s stock valued at $43,000 after buying an additional 67 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in Allergan by 1.8% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 4,274 shares of the company’s stock valued at $626,000 after buying an additional 75 shares during the last quarter. Berman Capital Advisors LLC lifted its position in Allergan by 48.8% in the first quarter. Berman Capital Advisors LLC now owns 238 shares of the company’s stock valued at $34,000 after buying an additional 78 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in Allergan by 43.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 259 shares of the company’s stock valued at $44,000 after buying an additional 78 shares during the last quarter. Finally, Founders Financial Securities LLC lifted its position in Allergan by 2.0% in the first quarter. Founders Financial Securities LLC now owns 4,300 shares of the company’s stock valued at $630,000 after buying an additional 84 shares during the last quarter. 79.95% of the stock is currently owned by hedge funds and other 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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