Market Update (NYSE:AGN): Allergan Acquires Topical Dermatology Company Topokine Therapeutics Adding Non-Invasive Fat Reduction Development Program

[PR Newswire] – DUBLIN and BOSTON, April 21, 2016 /PRNewswire/ — Allergan plc (AGN), a leading global pharmaceutical company, today announced that it has acquired Topokine Therapeutics, a privately held, clinical-stage biotechnology company focused on developing topical medicines for fat reduction. Under the terms of the agreement, Allergan acquired Topokine Therapeutics for an upfront payment of $85 million and success-based development and sales milestones for XAF5, a first-in-class topical agent in late-stage development for the treatment of steatoblepharon, also known as undereye bags. Applied to the lower eyelids once nightly, XAF5 penetrates the skin and acts pharmacologically on fat cells to shrink undereye bags. An estimated 40 million Americans have steatoblepharon,i which can make the face look older, tired, stressed or sad. Read more on this. Allergan plc (AGN) , with a current value of $89.89B, began trading this morning at $228.29. Today, shares have traded between $225.61 and $229.75 per share with a trailing 52-week range being $212.67 to $340.34. Allergan (AGN) shares are currently priced at 15.96x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -5.18x earnings multiple for the same period. The company pays shareholders $0.20 per share in dividend income per year, for a current yield of 0.10%. Consensus earnings for the current quarter by the 18 sell-side analysts covering the stock is an estimate of $3.04 per share, which would be $1.26 worse than the year-ago quarter and a $0.61 sequential decrease. The full-year EPS estimate is $14.28 which would be a $0.85 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.97 Billion. If realized, that would be a 5.48% decrease over the year-ago quarter. More recently, Guggenheim Initiated AGN at Neutral (Apr 18, 2016). Previously, Piper Jaffray downgraded AGN from Overweight to Neutral. When considering if the stock is under or overvalued, the average price target is $303.50, which is 32.94% above where the stock opened this morning. See more in (NYSE:AGN) Similar Articles: Company Update: Allergan Inc (NYSE:AGN) – Allergan, Pfizer call off $US160B deal Company Update: Allergan Inc (NYSE:AGN) – Allergan Presents Data at the 2016 American Academy of Dermatology (AAD) Annual Meeting in Washington D.C. Stock Update (NYSE:AGN): Allergan Acquires Medical Dermatology and Aesthetic Medicine Company Anterios to Expand Neurotoxin Pipeline