JPMorgan Upgrades Allergen (AGN) to Overweight

Increasingly Unlikely Allergen (AGN) Stays Independent - Piper Jaffray

Piper Jaffray analyst David Amsellem boosted his price target on Neutral-rated Allergen (NYSE: AGN) from $109 to $164 amid takeover interest, saying staying independent is most likely not in the cards.

Amsellem commented, "In the wake of Valeant's hostile bid for Allergan, we... More

Allergan, Inc. (AGN) Adopts 'Poison Pill' Provision

llergan, Inc. (NYSE: AGN) (Allergan or the Company) today announced that its Board of Directors (the Board) has unanimously adopted a one-year stockholder rights plan (the Plan) effective April 22, 2014 and declared a dividend distribution of one preferred share purchase right on each outstanding share of the Companys common stock.

Yesterday, the Company became aware of the recent rapid and previously undisclosed accumulation of a significant amount of the Companys common stock in connection with an acquisition proposal made today by Valeant Pharmaceuticals, Inc. The Plan is not intended to prevent... More

Argus Downgrades Allergen (AGN) to Hold

Argus downgraded Allergen (NYSE: AGN) from Buy to Hold with a price target of $130.00 (unchanged).

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 $142.00 yesterday.

Moody's Moves Outlook on Valeant Pharma (VRX) to 'Developing'; Affirms Existing Ratings (AGN)

Moody's Investors Service revised the rating outlook on Valeant Pharmaceuticals International, Inc. (NYSE: VRX) to developing from negative. At the same time, Moody's affirmed Valeant's existing ratings including the Ba3 Corporate Family Rating, Ba3-PD Probability of Default Rating, Ba1 senior secured rating and B1 senior unsecured rating.

This rating action follows the announcement that Valeant has made an offer to purchase Allergan, Inc. (NYSE: AGN) for over $40 billion with a combination of cash and stock. To date, Allergan has not accepted Valeant's offer.

The developing... More

Unusual 11 Mid-Day Movers 04/22: (GWPH) (IIN) (IDRA) Higher; (MDSO) (ARTX) (LXK) Lower

GW Pharma (Nasdaq: GWPH) 38.4% HIGHER; popping higher today as Morgan Stanley started coverage on the company with an Overweight rating and generous $103 price target. For more color, click here.

Intricon Corp. (Nasdaq: IIN) 28.8% HIGHER; reported... More

Allergan (AGN) Plans to Carefully Review Valeant (VRX) Offer

Allergan, Inc. (NYSE: AGN) today confirmed that it has received an unsolicited proposal from Valeant Pharmaceuticals International, Inc. (NYSE: VRX) to acquire all of the outstanding shares of the Company for a combination of 0.83 of Valeant... More

Deals, Deals, Deals in Pharmaceutical Sector; Who's Next?

With Valeant Pharmaceuticals (NYSE: VRX) and Pershing Square launching a bid overnight for Allergan (NYSE: AGN), and talk that Pfizer (NYSE: PFE) may have been in talks to acquire AstraZeneca (NYSE: AZN), speculation in the Pharmaceuticals/Specialty Pharmaceuticals sector is hot and heavy. Needless to say, traders are on the lookout for the next big deal.

In commentary today, analysts at... More

Jefferies Starts Allergen (AGN) at Hold

Jefferies initiates coverage on Allergen (NYSE: AGN) with a Hold rating and a price target of $139.00. (NOTE: Came out before last night's offer from VRX/Pershing Square)

For an analyst ratings summary and ratings history on Allergen... More

Valeant (VRX) Enters Cash, Stock Bid for Allergan (AGN)

Valeant Pharmaceuticals International, Inc. (NYSE: VRX) announced that it has submitted a merger proposal to the Board of Directors of Allergan, Inc. (NYSE: AGN) under which each Allergan share would be exchanged for $48.30 in cash and 0.83 shares of Valeant common stock, based on the fully diluted number of Allergan shares outstanding. Shareholders will be able to elect a mix of cash and shares, subject to proration. The proposal represents a substantial premium based on Allergan's unaffected price of $116.63 on April 10, 2014, the day before Pershing Square Capital Management L.P.... More

Allergan, Inc. (AGN) Issues Statement on Purported Valeant and Pershing Square Offer

Late Monday, Allergan, Inc. (NYSE: AGN) issued a statement in response to news Valeant Pharmaceuticals (NYSE: VRX) and Pershing Square Capital plan to make a merger proposal. Allergan said they have yet to receive a offer and has had no discussions with either Valeant or Pershing Square with respect to this... More

After-Hours Movers 4/21: (AGN) (VRX) (NFLX) Higher; (RMBS) (CDNS) (ALSN) Lower (more...)

Allergan, Inc. (NYSE: AGN) 20.4% HIGHER; Bill Ackman's Pershing Square disclosed that Valeant (NYSE: VRX) currently intends to propose a merger with the company.

Valeant (NYSE: VRX) 9.5% HIGHER; potential takeover of Allergan

Rambus, Inc. (NASDAQ: RMBS) 7% LOWER; reported Q1 GAAP EPS of $0.07, $0.04 better than the analyst estimate of $0.03 (Non-GAAP was $0.17). Revenue for the quarter came in at $78.3 million versus the consensus estimate of $72.48 million.... More

Market Wrap: Next Ford CEO Speculated; Gold Merger Tarnishes; Sarepta Pops on DMD Treatment Timeline

Market wrap for April 21st

End of the Day: S&P 500 up 7.0 to 1,871.89; Dow Jones up 40.7 to 16,449.25; Nasdaq up 26.0 to 4,121.55

* Allergan, Inc. (NYSE: AGN) ripped higher late Monday... More

Allergan, Inc. (AGN) Bid Could Come In Just Above $45B

CNBC's David Faber reports that Valeant Pharmaceuticals' (NYSE: VRX) bid for Allergan, Inc. (NYSE: AGN) could come in just north of $45 billion, with 1/3 coming in cash.

NOTE: In his 13D filing, Ackman indicated that Valeant currently expects the cash component will total around $15 billion

Bill Ackman Confirms Valeant (VRX) Merger Plans on Allergan (AGN) - 13D

Bill Ackman's Pershing Square filed its 13D on Allergan, Inc. (NYSE: AGN), confirming Valeant (NYSE: VRX) currently intends to propose a merger with the company. According to Ackman, Valeant has not yet determined the amount of cash and number of Valeant common shares it will offer, but it currently expects the cash component will total around $15 billion. Barclays and Royal Bank of Canada have indicated that they are prepared to deliver financing commitments covering the cash portion of the transaction at the time Valeant makes an offer.

Ackman reported... More

Allergan, Inc. (AGN) Surges on Ackman, Valeant Takeover Interest

(Updated - April 21, 2014 4:38 PM EDT)

Shares of Allergan, Inc. (NYSE: AGN) are surging after-hours Monday on reports from the Wall Street Journal that activist hedge fund manger Bill Ackman is teaming up with Valeant Pharmaceuticals (NYSE:... More