In a move which could help Allergan PLC (AGN) drive future growth, the company announced it is purchasing LifeCell for $2.9 billion in cash. LifeCell is a unit of privately held Acelity and focuses on regenerative medicine tissue products, which could fit in nicely with Allergan's plastic surgical unit and other cosmetic products.
Following the deal announcement, Sanford C. Bernstein & Company analyst Aaron Gal said he sees the acquisition as synergistic and feels it was completed at a reasonable price. The analyst reiterated his "outperform" rating and $275 per share price. Additionally, Deutsche Bank maintained its coverage of AGN with a "buy" and $247 per share price target. Meanwhile, Bank of America/Merrill Lynch also maintained their "buy" rating and $280 per share price target.
According to Tipranks, the average analyst price target for Allergan is about $278 and carries an average rating of "strong buy." Currently, 16 analysts are tracking the stock, with the highest price target being $400 by Cowen Group and the lowest price target at $209 by William Blair. The top rated analyst on the website is Mizuho Bank, which carries a 5 out of 5-star rating, and has a "buy" rating and $293 price target. Shares of AGN closed on December 20th, at $191.33, which is nearly 31% below the average price target of $278. Analysts, like most long shareholders of AGN on Wall Street, have not had a good year, with shares down nearly 38%.
After a rough 2016, shares of Allergan have stabilized around $192, although the market has found no catalyst thus far to push the stock price up, or down for that matter. Although I do not possess a crystal ball that allows me to see into the future, I'm quite confident the current price of $192 is not likely where the stock is staying. If anything, this seems like a resting place for the stock while the market waits for a new piece of news to come. Once it does, I'd expect volatility to pick up again. Levels to watch, are around $190 and $195 with a break above or below those levels to decide the future direction of the stock.
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Wererabbit ago
BTS was supplying illegal cadaver tissue to LIFECELL in 2005. LIFECELL one of largest skin harvest processing labs in U.S.
Wererabbit ago
In a move which could help Allergan PLC (AGN) drive future growth, the company announced it is purchasing LifeCell for $2.9 billion in cash. LifeCell is a unit of privately held Acelity and focuses on regenerative medicine tissue products, which could fit in nicely with Allergan's plastic surgical unit and other cosmetic products.
Following the deal announcement, Sanford C. Bernstein & Company analyst Aaron Gal said he sees the acquisition as synergistic and feels it was completed at a reasonable price. The analyst reiterated his "outperform" rating and $275 per share price. Additionally, Deutsche Bank maintained its coverage of AGN with a "buy" and $247 per share price target. Meanwhile, Bank of America/Merrill Lynch also maintained their "buy" rating and $280 per share price target.
According to Tipranks, the average analyst price target for Allergan is about $278 and carries an average rating of "strong buy." Currently, 16 analysts are tracking the stock, with the highest price target being $400 by Cowen Group and the lowest price target at $209 by William Blair. The top rated analyst on the website is Mizuho Bank, which carries a 5 out of 5-star rating, and has a "buy" rating and $293 price target. Shares of AGN closed on December 20th, at $191.33, which is nearly 31% below the average price target of $278. Analysts, like most long shareholders of AGN on Wall Street, have not had a good year, with shares down nearly 38%.
After a rough 2016, shares of Allergan have stabilized around $192, although the market has found no catalyst thus far to push the stock price up, or down for that matter. Although I do not possess a crystal ball that allows me to see into the future, I'm quite confident the current price of $192 is not likely where the stock is staying. If anything, this seems like a resting place for the stock while the market waits for a new piece of news to come. Once it does, I'd expect volatility to pick up again. Levels to watch, are around $190 and $195 with a break above or below those levels to decide the future direction of the stock.
Read more: Allergan to Buy LifeCell for $2.9 Billion (AGN) | Investopedia http://www.investopedia.com/news/allergan-buy-lifecell-29-billion-agn/#ixzz4b2RTaXpM Follow us: Investopedia on Facebook
Wererabbit ago
http://www.massdevice.com/private-equity-owners-rebrand-kci-systagenix-lifecell-acelity/