Stock Traders Purchase High Volume of Call Options on Allergan (NYSE:AGN)

Allergan plc (NYSE:AGN) was the target of unusually large options trading on Thursday. Stock investors purchased 4,318 call options on the company. This is an increase of 921% compared to the typical volume of 423 call options.

A number of equities analysts recently issued reports on AGN shares. Svb Leerink reissued a “market perform” rating and issued a $188.00 price objective (down from $217.00) on shares of Allergan in a report on Thursday, July 18th. Sanford C. Bernstein lowered Allergan from an “outperform” rating to a “market perform” rating and set a $166.08 price objective for the company. in a report on Tuesday, July 16th. Guggenheim lowered Allergan from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Raymond James lowered Allergan from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Finally, Cantor Fitzgerald increased their price objective on Allergan from $125.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $179.15.

Several large investors have recently made changes to their positions in AGN. Nuveen Asset Management LLC lifted its position in shares of Allergan by 1,665.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,104,662 shares of the company’s stock valued at $519,813,000 after acquiring an additional 2,928,846 shares during the last quarter. FMR LLC lifted its position in shares of Allergan by 42.0% during the 1st quarter. FMR LLC now owns 6,042,005 shares of the company’s stock valued at $884,611,000 after acquiring an additional 1,788,265 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Allergan by 415.5% during 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 acquiring an additional 1,432,555 shares during the last quarter. Magnetar Financial LLC lifted its position in shares of Allergan by 7,332.9% during the 2nd quarter. Magnetar Financial LLC now owns 966,272 shares of the company’s stock valued at $161,783,000 after acquiring an additional 953,272 shares during the last quarter. Finally, OZ Management LP acquired a new stake in shares of Allergan during the 2nd quarter valued at $150,878,000. Institutional investors own 80.52% of the company’s stock.

Shares of NYSE AGN opened at $173.60 on Friday. The stock has a fifty day moving average price of $166.16 and a two-hundred day moving average price of $152.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.91 and a current ratio of 1.03. The firm has a market cap of $55.83 billion, a P/E ratio of 10.40, a PEG ratio of 2.02 and a beta of 1.65. Allergan has a 1 year low of $114.27 and a 1 year high of $191.72.

Allergan (NYSE:AGN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.34 by $0.04. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.93 billion. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $4.42 EPS. On average, research analysts predict that Allergan will post 16.68 earnings per share for the current fiscal year.

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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