Allergan plc (AGN) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada restated their buy rating on shares of Allergan plc (NYSE:AGN) in a report issued on Tuesday. They currently have a $279.00 target price on the stock.

A number of other research firms have also commented on AGN. Deutsche Bank AG restated a buy rating and issued a $247.00 price target (up from $245.00) on shares of Allergan plc in a research report on Friday, December 23rd. Goldman Sachs Group Inc lowered shares of Allergan plc from a conviction-buy rating to a buy rating in a research report on Wednesday, December 21st. JPMorgan Chase & Co. set a $300.00 price target on shares of Allergan plc and gave the company a buy rating in a research report on Monday, December 5th. Vetr upgraded shares of Allergan plc from a hold rating to a buy rating and set a $256.33 price target on the stock in a research report on Wednesday, March 1st. Finally, Credit Suisse Group AG reduced their price target on shares of Allergan plc from $301.00 to $274.00 and set an outperform rating on the stock in a research report on Friday, December 9th. Seven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $273.22.

Allergan plc (NYSE:AGN) opened at 237.38 on Tuesday. The firm has a market cap of $79.58 billion, a price-to-earnings ratio of 6.22 and a beta of 1.07. Allergan plc has a 52-week low of $184.50 and a 52-week high of $282.59. The firm has a 50-day moving average of $239.60 and a 200 day moving average of $221.85.

Allergan plc (NYSE:AGN) last released its quarterly earnings results on Wednesday, February 8th. The company reported $3.90 EPS for the quarter, beating the Zacks’ consensus estimate of $3.76 by $0.14. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.77 billion. Allergan plc had a net margin of 100.04% and a return on equity of 7.21%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.41 earnings per share. On average, equities research analysts forecast that Allergan plc will post $16.04 earnings per share for the current year.

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In related news, Director Paul Bisaro sold 70,000 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $246.68, for a total value of $17,267,600.00. Following the transaction, the director now directly owns 274,226 shares in the company, valued at $67,646,069.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

A number of large investors have recently modified their holdings of AGN. Israel Discount Bank of New York GFN purchased a new stake in shares of Allergan plc during the fourth quarter valued at approximately $662,000. Camber Capital Management LLC purchased a new stake in shares of Allergan plc during the fourth quarter valued at approximately $114,035,000. Norges Bank purchased a new stake in shares of Allergan plc during the fourth quarter valued at approximately $682,333,000. WFG Advisors LP increased its stake in shares of Allergan plc by 6,726.1% in the fourth quarter. WFG Advisors LP now owns 47,100 shares of the company’s stock valued at $215,000 after buying an additional 46,410 shares during the last quarter. Finally, Appaloosa LP increased its stake in shares of Allergan plc by 249.8% in the fourth quarter. Appaloosa LP now owns 4,261,406 shares of the company’s stock valued at $894,938,000 after buying an additional 3,043,097 shares during the last quarter. 86.40% of the stock is owned by hedge funds and other institutional investors.

Allergan plc Company Profile

Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.

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