Allergan (NYSE:AGN) had its price objective cut by equities research analysts at Morgan Stanley from $200.00 to $181.00 in a research report issued on Thursday, The Fly reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 17.36% from the company’s current price.
Other equities analysts have also issued reports about the stock. Credit Suisse Group set a $214.00 target price on shares of Allergan and gave the stock a “buy” rating in a research report on Tuesday, December 19th. They noted that the move was a valuation call. Vetr lowered shares of Allergan from a “strong-buy” rating to a “buy” rating and set a $187.73 target price on the stock. in a research report on Wednesday, December 6th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Allergan in a research report on Wednesday, December 6th. Royal Bank of Canada set a $218.00 target price on shares of Allergan and gave the stock a “buy” rating in a research report on Thursday, January 4th. Finally, Citigroup cut their price objective on shares of Allergan to $215.00 and set a “buy” rating on the stock in a report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $225.03.
Allergan (NYSE AGN) opened at $154.22 on Thursday. The company has a market cap of $52,820.00, a P/E ratio of -12.86, a PEG ratio of 1.13 and a beta of 1.19. Allergan has a 1 year low of $151.55 and a 1 year high of $256.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.06 and a current ratio of 1.16.
In related news, Director Christopher J. Coughlin acquired 10,000 shares of the stock in a transaction dated Tuesday, December 5th. The stock was acquired at an average cost of $163.30 per share, for a total transaction of $1,633,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Meury sold 58,879 shares of Allergan stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $160.62, for a total transaction of $9,457,144.98. The disclosure for this sale can be found here. Insiders have bought 19,630 shares of company stock valued at $3,211,937 over the last quarter. Insiders own 0.36% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Edgewood Management LLC lifted its stake in shares of Allergan by 24.3% during the third quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock worth $911,192,000 after buying an additional 869,248 shares during the period. Geode Capital Management LLC lifted its position in Allergan by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 3,422,365 shares of the company’s stock valued at $558,625,000 after purchasing an additional 72,303 shares during the period. Baupost Group LLC MA lifted its position in Allergan by 21.9% during the third quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock valued at $607,513,000 after purchasing an additional 531,600 shares during the period. Parnassus Investments CA lifted its position in Allergan by 20.4% during the fourth quarter. Parnassus Investments CA now owns 2,161,833 shares of the company’s stock valued at $353,633,000 after purchasing an additional 365,914 shares during the period. Finally, Epoch Investment Partners Inc. lifted its position in Allergan by 1.0% during the third quarter. Epoch Investment Partners Inc. now owns 1,805,608 shares of the company’s stock valued at $370,060,000 after purchasing an additional 17,068 shares during the period. Institutional investors and hedge funds own 79.66% of the company’s stock.
Allergan 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.
Receive News & Ratings for Allergan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan and related companies with MarketBeat.com's FREE daily email newsletter.