Quarterly Financials of Allergan
Allergan Incorporated (AGN) revealed its earnings for the quarter on Thursday, baring earnings of $1 per share, meeting the consensus estimate of Thomson Reuters. Quarterly performance showed an increase of 7 percent from previous year’s showing for the same period. In a research note given to investors on December 9, 2011, Zacks Investment Research analysts pegged a “neutral” rating on Allergan shares with a current price target of $86 on the stock.
Analysts from Barclays Capital, meanwhile, offered an “equal weight” rating on Allergan stocks pegging the target price at $90. On the other hand, Piper Jaffray analysts reiterated a “neutral” rating on the same stocks in a research note given to investors last December 1, 2011, with current price target pegged at $87 per stock share.
The stock, currently priced slightly above $86 has a 50-day moving average of $85.76 and a 200-day average of $82.48. It seems that breaking the $90 level is going to be the acid test of stock uptrend, which nearly reached it primary target after the $68-$31 drop that took place in 2008. If the level of $90 is surpassed, AGN should reach at least the heights of $100.
Allergan Inc is involved in developing and commercializing multi-specialty health care, pharmaceuticals, biologics and medical devices. It is into research, development, and marketing of medical devices and products and holds two reportable segments: specialty pharmaceuticals and medical devices. Allegran company holds a market cap of $26.47 billion and its P/E ratio is currently 28.57.