Allergan (NYSE:AGN) had its price objective reduced by UBS Group from $174.00 to $173.00 in a research note published on Wednesday, April 3rd, Stock Target Advisor reports. UBS Group currently has a buy rating on the stock.
A number of other research firms have also issued reports on AGN. SunTrust Banks assumed coverage on Allergan in a report on Tuesday, March 19th. They issued a buy rating and a $178.00 target price on the stock. ValuEngine raised Allergan from a strong sell rating to a sell rating in a report on Thursday, December 13th. Credit Suisse Group set a $200.00 target price on Allergan and gave the company a buy rating in a report on Thursday, December 13th. Royal Bank of Canada set a $165.00 target price on Allergan and gave the company a hold rating in a report on Monday, March 25th. Finally, Morgan Stanley lowered Allergan from an overweight rating to an equal weight rating and set a $156.00 target price on the stock. in a report on Wednesday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $188.05.
AGN stock traded up $1.83 during trading on Wednesday, hitting $141.49. 1,245,398 shares of the company’s stock were exchanged, compared to its average volume of 2,586,022. The stock has a market cap of $47.29 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 1.31 and a beta of 1.34. Allergan has a 52-week low of $125.84 and a 52-week high of $197.00. 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 announced that its board has approved a share buyback program on Tuesday, January 29th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other news, Chairman Brent L. Saunders bought 1,760 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were bought at an average cost of $143.67 per share, for a total transaction of $252,859.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Liberty Wealth Management LLC lifted its position in shares of Allergan by 108.8% in the first quarter. Liberty Wealth Management LLC now owns 190 shares of the company’s stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. Investors Research Corp acquired a new position in Allergan in the first quarter valued at $29,000. JNBA Financial Advisors acquired a new position in Allergan in the fourth quarter valued at $30,000. Washington Trust Bank increased its stake in Allergan by 166.7% in the first 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. Finally, IMS Capital Management acquired a new position in Allergan in the third quarter valued at $66,000. Institutional investors and hedge funds own 80.58% of the company’s stock.
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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