Allergan Inc (NYSE:AGN), is a global technology-driven health care company is a leader in ophthalmic, neuromuscular and skin care pharmaceuticals. Its strong R&D focus has produced a package of drugs that includes treatments for dry eye, glaucoma, chronic pain, acid reflux and skin treatments.
Allergan plans to be the leader in aesthetics markets and promotes its success with Botox. Earnings for 2011 are estimated at $3.65, up from $3.16 in 2010, and S&P projects EPS of $4.20 in 2012—the average of five analysts rate AGN a “Buy” with targets ranging from $90 to $96.
Technically AGN is completing the third stair-step base pattern in 12 months. A break above $84 targets the stock for a move to $89 or higher. Heavy volume on the last breakout in April resulted in a 10-point run.