Mizuho Securities Remains Sidelined on Allergan (AGN) following 1Q Earnings; PT to $232

Mizuho Securities maintained a Neutral rating on Allergen (NYSE: AGN), and cut the price target to $232.00 (from $250.00), following the company's 1Q earnings report. AGN reported $3.8B in revenues and EPS of $3.04 vs. consensus estimates $3.95B and $3.00. Management reiterated its FY16 revenue guidance of $17B, $15B of which is branded revenues.

Analyst Irina Koffler commented, "We reiterate our Neutral rating and are lowering our PT to $232 from $250 on valuation. Aside from a large $5-10B share buy back, management is not pursuing any transformational changes to the business (as expected) and are less excited by an execution story."

For an analyst ratings summary and ratings history on Allergen click here. For more ratings news on Allergen click here.

Shares of Allergen closed at $216.02 yesterday.

You May Also Be Interested In

• FedEx (FDX) PT Lowered to $424 at Bernstein SocGen Group
• Taysha Gene Therapies (TSHA) PT Raised to $10 at BofA Securities
• Regenxbio Inc. (RGNX) PT Raised to $32 at Baird