Allergan (AGN) Gets a Hold Rating from Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen maintained a Hold rating on Allergan (NYSE: AGN) today and set a price target of $180. The company’s shares opened today at $189.53.
“We rate AGN Neutral and have a 12-month price target of $180. We think that Allergan is one the highest-quality and most-innovative companies in the Pharma industry. That said, we don’t see a lot of upside to consensus expectations in the near term, which is why we are on the sidelines for now. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $180.”
According to TipRanks.com, Chen has 0 stars on 0-5 star ranking scale with an average return of -8.0% and a 38.9% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.
Currently, the analyst consensus on Allergan is a Moderate Buy with an average price target of $201.57.
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Based on Allergan’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $473 million. In comparison, last year the company had a GAAP net loss of $726 million.
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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.