New Buy Recommendation for This Healthcare Giant

Cowen & Co. analyst Ken Cacciatore reiterated a Buy rating on Allergan (NYSE: AGN) today and set a price target of $255. The company’s shares opened today at $165.68.

According to TipRanks.com, Cacciatore is a 3-star analyst with an average return of 3.2% and a 43.6% success rate. Cacciatore covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Adamas Pharmaceuticals, and Amag Pharmaceuticals.

Currently, the analyst consensus on Allergan is Moderate Buy and the average price target is $211.92, representing a 27.9% upside.

In a report issued on April 12, Deutsche Bank also maintained a Buy rating on the stock.

The company has a one-year high of $256.80 and a one-year low of $142.81. Currently, Allergan has an average volume of 3.25M.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AGN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Allergan Plc engages in the research, development, and manufacture of pharmaceutical products. It operates through the following business segments: US Specialized Therapeutics; US General Medicine, and International. The US Specialized Therapeutics segment includes sales and expenses relating to branded products within the United States.

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