Allergan PLC (AGN) Releases Earnings Results, Meets Expectations

Allergan PLC (AGN) Releases Earnings Results, Meets Expectations

Allergan PLC (NYSE:AGN) announced its quarterly earnings results on Monday. The company reported $3.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.35. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $4.10 billion.

Several brokerages recently issued reports on AGN. Goldman Sachs Group Inc. downgraded Allergan PLC to a “buy” rating in a report on Saturday, May 14th. Citigroup Inc. reiterated a “buy” rating on shares of Allergan PLC in a report on Sunday, May 29th. Piper Jaffray Cos. reiterated a “hold” rating and set a $236.00 price target on shares of Allergan PLC in a report on Saturday, June 18th. JPMorgan Chase & Co. set a $325.00 price target on Allergan PLC and gave the stock a “buy” rating in a report on Friday. Finally, Vetr downgraded Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $283.05 price objective for the company. in a research note on Monday. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $309.05.

In related news, CFO Maria Teresa Hilado purchased 661 shares of the business’s stock in a transaction on Thursday, June 2nd. The stock was acquired at an average price of $241.57 per share, with a total value of $159,677.77. Following the completion of the acquisition, the chief financial officer now owns 11,957 shares of the company’s stock, valued at approximately $2,888,452.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nesli Basgoz sold 459 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $225.10, for a total value of $103,320.90. Following the sale, the director now directly owns 5,242 shares of the company’s stock, valued at approximately $1,179,974.20. The disclosure for this sale can be found here.

Allergan PLC (NYSE:AGN) opened at 253.85 on Monday. The company’s 50-day moving average price is $241.42 and its 200 day moving average price is $252.65. The company has a market capitalization of $100.41 billion and a price-to-earnings ratio of 22.72. Allergan PLC has a 52-week low of $195.50 and a 52-week high of $325.27.

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.

August 8th, 2016

Source: http://www.americanbankingnews.com/

August 8, 2016 / Pharma News