|Bid||129.99 x 800|
|Ask||132.00 x 1000|
|Day's Range||129.01 - 130.69|
|52 Week Range||114.27 - 197.00|
|Beta (3Y Monthly)||1.63|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 24, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||2.96 (2.31%)|
|1y Target Est||177.60|
DUBLIN, June 24, 2019 /PRNewswire/ -- Allergan plc (AGN) today announced CoolTone device received FDA clearance for improvement of abdominal tone, strengthening of the abdominal muscles, and development for firmer abdomen. "As the global leader in medical aesthetics and body contouring, Allergan invests in the ongoing innovation and advancement of safe and effective non-surgical aesthetic solutions," said Brad Hauser, Vice President, R&D and General Manager, Body Contouring, Allergan.
Allergan PLC said Friday that its supplemental biologics application (sBLA) for Botox for the treatment of upper limb spasticity in pediatric patients, from ages 2 to 17, was approved by the U.S. Food and Drug Administration. Botox was granted a 6-month Priority Review by the FDA. Upper limb spasticity often results in muscle tightness and stiffness, and can interfere with movement at the joints. Common causes of spasticity in children include cerebral palsy, traumatic brain injury, multiple sclerosis, spinal cord injury and stroke. Allergan said the FDA is also reviewing an sBLA for the use of Botox to treatment pediatric patients with lower limb spasticity, and expects a decision by the end of the year. Allergan's stock, which is still inactive in premarket trade, has fallen 15% over the past three months, while the SPDR Health Care Select Sector ETF has gained 1.1% and the S&P 500 has tacked on 3.5%.
DUBLIN, June 21, 2019 /PRNewswire/ -- Allergan plc (AGN) today announced that the U.S. Food and Drug Administration (FDA) approved the company's supplemental biologics application (sBLA) for BOTOX® for the treatment of pediatric patients (2 to 17 years of age) with upper limb spasticity. BOTOX® was granted a six-month Priority Review by the FDA, which is typically granted to therapies that if approved, could offer significant improvements in safety and effectiveness when compared to current standard of care.
Allergan's (AGN) shares up following a conference call with one of the company's executives, which led an analyst to believe that a split of the company's business is in the cards.
[Editor's note: This story was previously published in February 2019. It has since been updated and republished.]Overall, the stock market has made a huge improvement in the first half of 2019 from where it ended in 2018; it has been a complete turnaround from last year's drop, when stocks entered bear-market territory.But even though many stocks have completely erased all of their losses and made it back into the green, not all stocks have done so well. What this means is that while there are still plenty of duds out there, there are also a few undervalued stocks to buy; it has just become a little trickier to find them amid all the flashy comeback stories.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTo find the best stocks to buy now,disciplined investors might start with their own watch list, which should contain "wish list" stocks that are usually too expensive or have been put there to be on the backburner for later. Among such stocks, companies that got left out of the rally are the most compelling. Even better, the best undervalued stocks to buy are those that dropped by double-digit percentages during the current rally.Why is that?Markets that are pricing in the negative news typically lower the risk for investors. Such companies may work to resolve the business problem at hand, which improves its prospects and leads to a higher share price in the long run. As long as the bad news reported is a temporary setback and the business model is not broken, the risks behind buying a stock on a dip are lower. * 6 Stocks Ready to Bounce on a Trade Deal With all of that in mind, here are five undervalued stocks to buy that aren't as scary as they seem. Sony (SNE)Investors expected more from Sony's (NYSE:SNE) earnings report when the company posted results on Feb. 1. Revenue of 2.4 trillion yen in the third-quarter missed estimates for 2.67 trillion yen.Adding salt to the wound, many SNE investors are fretting over Sony's weaker sales outlook, with smartphone and camera sales lagging. On the flipside, the PlayStation 4 business still could rebound. Even though the console cycle is many years old, customers will continue to buy new game titles. And in the smartphone space, a refresh in the second half of this year may give customers a reason to buy a new Sony device again.Trading more than 10$ below its 52-week high, Sony stock clearly deserves its spot among the best undervalued stocks to buy now. Celestica (CLS)Celestica (NYSE:CLS) reported fourth-quarter revenue of $1.73 billion, up 10% from last year. Net earnings rose $46.5 million to $60.1 million, bringing in earnings of 44 cents a share. However, investors were unimpressed with the weak sequential revenue in its Communications, ATS and CCS segments, which were either flat or down. Still, revenue from all segments grew in the double digits from last year.Celestica ended the year with $422 million in cash and cash equivalents. Net cash fell $335 million for the year. And the balance sheet is not as strong as it could be, with non-IFRS debt leverage at 2.6X.The company supplies equipment in ATS -- aerospace and defense, industrial, smart energy, health tech and capital equipment. Its enterprise unit consists of servers and storage. Why then, should investors believe the company will offset the weakness it faces in the eroding semiconductor market?Celestica is cutting costs in operations to align the business with the lower revenue. It will continue to build its capital equipment business. Management believes the fundamentals in this space will only improve in the long run. As next-generation adoption in display continues, its OLED business, for example, will add to its bottom line.Celestica stock is an undervalued play worth considering. Allergan (AGN)Generic drug supplier Allergan (NYSE:AGN) fell over 10% in late January and early February for two reasons. First, its fourth-quarter earnings report did not please investors. Operating income sank 11.8% year-over-year, and revenue fell 5.8% YoY to $4.08 billion.On Feb. 1, the Food and Drug Administration approved Evolus' (NASDAQ:EOLS) Jeuveau. This product competes directly with Allergan's Botox. Pricing could come in at 20% below that of Botox, putting pressure on Allergan's bottom line.Be warned: it's likely that AGN stock will continue to sell off as investors price in the worst case scenario for Botox. Even though management already expects some pricing erosion, it is confident that the sales volume will taper off slowly. But this is good news for investors in search of a bargain, as the more the stock falls, the more discount value investors get on AGN stock.As Allergan launches new products this year, it will offset the negative impact of generic drug competition for Botox, making it an undervalued stock to watch. Innoviva (INVA)Innoviva (NASDAQ:INVA) is another stock in the drug space whose large drop starting in late January appears greatly overdone. The market all but erased the powerful uptrend in the stock that began after INVA sold off in November 2018 and bottomed at $14.The FDA approved Mylan's (NASDAQ:MYL) generic version of Advair, which GlaxoSmithKline (NYSE:GSK) produces. This forced investors to worry about Innoviva's prospects because the company is paid royalties from Glaxo. In the third quarter, Innova received $65.1 million in royalty revenues from Glaxo; $51.7 million came from global net sales of Revar/Breo Ellipta.On Feb. 6, Innoviva reported revenue of $79.86 million, up 14.9% from last year. With the stock trading at a forward price-to-earnings ratio of 9.3, the price-earnings-to-growth ratio is 0.45. As such, this general pessimism has created an appealing entry point to INVA stock. * 6 Stocks Ready to Bounce on a Trade Deal Investors appear to be overreacting to the generic competition. If demand for Innoviva's formulation does not drop and prices hold, royalty revenues should not fall as much as markets think, which makes INVA an ideal undervalued stock to buy now. Vodafone (VOD)Telecom stocks are out of favor.. But Vodafone (NASDAQ: VOD) is down the most among the major names in the sector, falling over 35% from its 52-week high.Third-quarter results for VOD, which ended on Dec. 31, missed analysts' consensus sales forecasts. Vodafone continued to under-perform in Europe, due to rising competition. Although the company highlighted improving customer trends in Italy, Germany, and reduced churn in Spain, this was not enough to prevent revenue falling 5.6% in Europe and 6.8% overall.With all that bad news, it is little wonder why the stock has been marching lower. But VOD still has ways to mend the wound. The company could trim the dividend and re-allocate its resources toward advertising and capital expenditures. That would put it in a better position to compete with its European counterparts. And the stock would respond if those efforts lead to better revenue numbers.Vodafone shares pay a dividend yield of nearly 6%. If Vodafone grows its U.K. business as it signs on users to its 5G services and cuts costs as it signs on more customers, VOD stock will finally move higher.As of this writing, Chris Lau owned shares of Innoviva. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Blue-Chip Stocks to Buy for a Noisy Market * 5 Strong Buy Biotech Stocks for the Second Half * 6 Stocks Ready to Bounce on a Trade Deal Compare Brokers The post 5 Undervalued Stocks to Buy appeared first on InvestorPlace.
On March 6, Allergan (AGN) issued a press release announcing the failure of its investigational therapy rapastinel to meet the primary and secondary end points in three pivotal trials evaluating it as an adjunctive therapy in combination with antidepressant therapy in major depressive disorder indications.
Ironwood (IRWD) and Allergan's Linzess meets the goal in a late-stage study for treating adult patients with IBS-C. Shares rise as the drug reduces bloating, pain and discomfort in IBS-C patients.
The S&P 500 approached a record high on Wednesday after the Federal Reserve signaled potential interest cuts later this year, reassuring investors worried that the U.S.-China trade war could stall economic growth. In its statement following a two-day policy meeting, the Fed held rates steady, as expected, but dropped a previous promise to be "patient" in adjusting rates. "We think the Fed delivered.
In its first-quarter earnings investor presentation, Allergan (AGN) guided for a 2019 non-GAAP (generally accepted accounting principles) gross margin of 85.0%–85.5%, in line with the consensus estimate of 85.48%.
Wall Street rose on Wednesday after the Federal Reserve held interest rates steady and signaled potential cuts later this year, reassuring investors worried that the U.S.-China trade war could stall economic growth. "We think the Fed delivered. It'll likely be coming in July absent some big trade news or other news," said John Augustine, chief investment officer at Huntington Bank in Columbus, Ohio.
In its first-quarter earnings investor presentation, Allergan (AGN) revised its 2019 revenue guidance upward from its previous estimate of $15.0 billion–$15.3 billion to $15.1 billion–$15.4 billion.
AbbVie (ABBV) is down 14.69%, and Allergan (AGN) is down 13.41% in 2019 on a year-to-date basis. While concerns about the anticipated generic erosion of its flagship Humira franchise have proved to be a drag for AbbVie, Allergan is being increasingly criticized for a couple of reasons.
Wall Street's main indexes were flat on Wednesday, as investors refrained from taking positions ahead of the Federal Reserve's policy statement that is expected to open the door to future interest rate cuts. The Fed's statement and new economic projections are scheduled to be released at 2 p.m. ET (1800 GMT), providing investors an opportunity to gauge the impact of a prolonged U.S.-China trade conflict, President Donald Trump's demands for a rate cut and softer-than-expected economic data on monetary policy thinking. Fed Chair Jerome Powell will hold a press conference at 2:30 p.m. ET (1830 GMT).
Ironwood and Allergan plc (NYSE: AGN) announced positive topline results from a Phase 3b study evaluating Linzess 290 mcg for multiple abdominal symptoms in adult patients with irritable bowel syndrome with constipation, or IBS-C. The companies said the late-stage study met the primary multicomponent endpoint of the drug, when administered orally once-daily, demonstrating an improvement in overall abdominal symptoms of bloating, pain and discomfort in adult patients with IBS-C compared to placebo. Linzess, an FDA-approved drug for IBS-C or chronic idiopathic constipation, or IDC, is marketed in the U.S. by Ironwood and Allergan.
Ironwood Pharmaceuticals, Inc. (IRWD) and Allergan plc (AGN) today announced positive topline data from a Phase IIIb clinical trial evaluating LINZESS (linaclotide) 290 mcg on multiple abdominal symptoms in adult patients with IBS-C. The trial met its primary multi-component endpoint and demonstrated that linaclotide improved the overall abdominal symptoms of bloating, pain and discomfort in adult IBS-C patients compared to placebo. The trial also met both secondary endpoints.
Shares of Allergan Plc shot up 3.8% Tuesday afternoon after Evercore ISI analyst Umer Raffat said a call with the drugmaker's general counsel left him "with the sense that Allergan is heading towards a split and may likely lay out timelines." He added in a note to clients that he thinks the company will give an update in the next couple of months. Analysts have long called for a split and activist investors have long pushed for the company to also separate out its chairman and chief executive roles, which are both held by Brent Saunders. Allergan has been dealing with some significant issues in the past year -- investors are worried about the future of Botox, the company's biggest earner, as it faces competition in the anti-wrinkle and injectable migraine treatment markets. Investors were also rattled by the failure of depression drug rapastinel -- once considered by many to be Allergan's next big blockbuster drug -- in clinical trials earlier this year. In May, Saunders said he had heard investors' concerns "loud and clear," adding that "everything is on the table," including the possibility of splitting the company up. Shares of Allergan have fallen 10.6% in the year to date, while the S&P 500 has gained 16.4%.
(Bloomberg Opinion) -- Biohaven Pharmaceutical Holding Co. has rapidly transformed from one of biotech’s darlings into a cautionary tale of overheated M&A hype. Shares of the developer of migraine treatments surged in April after Bloomberg News reported that the company was considering a sale; the stock then took another leg up earlier this month when Biohaven canceled plans to attend a Goldman Sachs health-care conference, fueling speculation a takeover was imminent. All those gains evaporated this week when the company instead announced that it was selling more shares, something that wouldn’t happen if a deal was in sight. As of midday Tuesday, the stock was down 35 percent from its highs: Biohaven’s ongoing single status shouldn’t have come as so much of a shock. The company has arguably never been as compelling an M&A target as some investors and analysts seem to think, and faces significant risks if it has to go it alone. Deal hype isn’t a self-fulfilling prophecy in biotech; in fact, it can sometimes backfire and result in the exact opposite. In the case of Biohaven, the company’s lead drug in development is a migraine pill that takes the same approach as a group of three recently approved injectable medicines that can help prevent the debilitating headaches. Biohaven's drug is a fast-acting alternative, but it will have to compete for a subset of the market with cheaper generic options and a direct rival from Allergan PLC.The drug’s tough path forward is one of the reasons Biohaven was likely open to a buyout; this launch will be even harder and slower without the financial resources and commercial expertise of a larger company. But that same dynamic is also potentially what’s keeping potential suitors away. Biohaven just isn’t the sort of company that pharma has been buying. The sweet spot of M&A in the industry has centered around cancer drugs and rare-disease treatments that command very high prices, partly by sidestepping the pricing and reimbursement problems that dog larger and more competitive markets such as the one for migraine remedies. Most recent biopharma acquisitions above $1.5 billion have been for companies working in these areas or for drugs that already generate sales. It’s possible that a drugmaker could decide to do something different, but it would need a compelling reason, and the hype-driven ascent of BioHaven’s valuation doesn’t help.This is pretty clearly a situation where takeover excitement got well ahead of reality, which isn’t uncommon in biotech. But context matters, and any investment thesis that depends on big pharma expensively bucking an M&A trend to get itself into a possible price war deserves some extra skepticism.To contact the author of this story: Max Nisen at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Another day of indecision. The market is at least holding its ground above a key technical floor, even though the S&P 500 lost 0.18% of its value on Friday. It even logged a gain for the week. But, it's clear investors remain hesitant.Source: Allan Ajifo via Wikimedia (Modified)The bulls weren't hesitant about Sprint (NYSE:S), pushing it up nearly 3% on renewed optimism the Federal Trade Commission could give its impending merger with T-Mobile (NASDAQ:TMUS) a green light as early as next week after all. A much-ballyhooed Beyond Meat (NASDAQ:BYND) jumped more than 7% on news that its primary rival, Impossible Burger, was struggling to meet demand for its product.There just weren't enough names like Beyond Meat and Sprint to overcome dead weight like Advanced Micro Devices (NASDAQ:AMD). AMD shares fell more than 3% after rival Broadcom (NASDAQ:AVGO) lowered its full-year guidance.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Top-Rated Biotech Stocks to Invest In Today None of those names make for great trading prospects today, however … too much unpredictable volatility. Rather, it's the stock charts of Charles Schwab (NYSE:SCHW), Allergan (NYSE:AGN) and Centurylink (NYSE:CTL) that are worth closer looks. Here's why. Centurylink (CTL)We've seen fakeout moves from Centurylink shares before, so take this one with a grain of salt. But, this one is different in the sense that it's starting to take hold after a major selloff that has left the stock oversold and ripe for a rebound. There's just one more hurdle to clear, though it's not a small one. It has proven to be a ceiling in the past, though in slightly different circumstances. Click to Enlarge * The slow break above the falling resistance level marked in yellow on both stock charts ultimately petered out, but the break above the falling ceiling plotted with blue lines since April seems to be taking shape at a much stronger pace. * This time around the rebound move is materializing after the weekly chart's RSI indicator fell well into oversold territory. The move out of that condition in the meantime is a sign that a reversal is underway. * The key from here is a move above the purple 50-day moving average line. That level was a ceiling a couple of times in the fall of last year, but that was when the selloff was just getting started. It really is a different scenario now. Allergan (AGN)Long-term Allergan shareholders are no stranger to disappointment. The stock has been in a choppy downtrend since 2015, managing to reach new multi-year lows on Friday of last week. It looks and feels like the stock is about to implode.And, maybe it is. But, with Friday's 4.1% meltdown, AGN stock has actually bumped into a very well-established technical floor that could throw bears for a loop. Although some sort of verification is necessary before jumping to any conclusions, the binary outcome that has to take shape from here is apt to offer some significant swing trading opportunities no matter what. * 10 High-Yield Monthly Dividend Stocks to Buy Click to Enlarge * As of Friday, Allergen shares are kissing the lower edge of a converging wedge pattern that extends back to 2015. * The bullish case is simple enough -- at a major floor and with the weekly chart's RSI indicator almost into oversold territory, another rebound could be imminent. The bulls will have to confirm that's going to happen with a bounce this week. * It's not a very well watched dynamic, but thanks to Friday's tumble, AGN shares are now 25% below their white 200-day moving average line. That was about the maximum divergence allowed to take shape in late 2017 and early 2018, also bolstering the bullish case. Charles Schwab (SCHW)A month ago, Charles Schwab shares were toying with a recovery move. Although a falling resistance line was still intact, a handful of other bullish clues were materializing.The effort never panned out. Instead, SCHW bumped into that technical ceiling one last time, fell back again and then continued to fall. The last bastion of hope was wiped away on Friday with a 3.1% setback that dragged Charles Schwab shares back to their lowest level in months. And, that's not even the worst of it. Click to Enlarge * The resistance line that remains intact is plotted in blue on both stock charts, tagging all the key highs since November. * Support was developing around $41.40, by virtue of shares making a couple of major lows there since March. That floor was smashed on Friday. * Although anything is still possible at this point, with a floor now taken out of the picture, the next most likely landing spot is the most frequent low seen since early 2017. That floor near $37.80 is marked in yellow on both stock charts. * From the perspective of the weekly chart, the pattern since early 2017 loosely looks like a head-and-shoulders pattern. Should the "neckline" at $37.80 also fail, the ensuing selloff could be significant.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * The 7 Best Tech Stocks to Buy for the Second Half of 2019 * 7 Top-Rated Biotech Stocks to Invest In Today * 4 Semiconductor Stocks to Sell Compare Brokers The post 3 Big Stock Charts for Monday: Centurylink, Allergan and Charles Schwab appeared first on InvestorPlace.