Barclays Reiterates a Hold Rating on Allergan

By Jason Carr

In a report released today, Douglas Tsao from Barclays reiterated a Hold rating on Allergan (NYSE: AGN), with a price target of $220. The company’s shares opened today at $198.03, close to its 52-week low of $195.50.

Tsao observed:

“We question whether durable and launch products, like Botox, Linzess, Vraylar and Viberzi, can sustain the growth necessary to offset portfolio weaknesses. Botox total sales of $673M were in line with our estimate; we expect continued growth, especially in cosmetic, though note potential headwinds in therapeutic from the anti- CGRP’s in migraine. Linzess growth of ~40% was strong, but with 73% of new Rx from OTC mkt points to need for expensive DTC.”

According to, Tsao is a 4-star analyst with an average return of 7.2% and a 50.7% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Protagonist Therapeutics, Pacira Pharmaceuticals, and Amag Pharmaceuticals.

Allergan has an analyst consensus of Strong Buy, with a price target consensus of $316.40.

The company has a one year high of $322.68 and a one year low of $195.50. Currently, Allergan has an average volume of 3.48M.

Allergan Plc engages in the research, development, and manufacture of pharmaceutical products. The firm offers products under the following brands: BOTOX, Juvederm, Linzess, Namenda, Restasis, Latisse, Teflaro, Lo Loestrin Fe, Bystolic, DORYX, Saphris, Fetzima, Namenda XR, Namzaric, Viberzi, Viibryd, Alphagan, LUMIGAN, ESTRACE Cream, Rapaflo, Asacol, DELZICOL, Zenpep, Avycaz, and Dalvance. Its brand portfolio delivers treatments that address unmet medical needs in therapeutic categories such as dermatology and aesthetics; central nervous system; eye care; women health and urology; gastroenterology and cystic fibrosis; and cardiovascular and infectious disease. The company was founded on October 1, 2012 and is headquartered in Dublin, Ireland.