Allergan Looks Healthy and May Make a Move Soon

Pick may make a run to $89


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.

agn pix Allergan Looks Healthy and May Make a Move Soon

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.

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