Mizuho called the pharma stock "very salvageable and cheap"
Allergan plc (NYSE:AGN) stock is attempting a comeback today, after a Mizuho Securities analyst said the stock was undervalued -- calling it "very salvageable and cheap." AGN stock took a recent hit after the recall of its textured breast implants in Europe, resulting in a five-year low of $125.84 on Dec. 26.
Today, though, AGN is pacing for its fifth straight win, with shares up 4.5% at $142.22, at last check. The Botox concern is now set to close back atop its 20-day moving average, a trendline it hasn't conquered since shortly after its October highs.
Analysts are generally optimistic about Allergan stock, with 12 giving the security a "buy" or better rating, compared to five issuing "holds." What's more, the current consensus 12-month price target -- a lofty $207.11 per share -- represents expected upside of roughly 45% to current levels.
Options traders have a sunny outlook on AGN, too. Currently, the stock is sporting a Schaeffer's put/call open interest (SOIR) of 0.59 that sits in just the 4th percentile of its annual range. This suggests that short-term traders have rarely been more call-heavy in the past 12 months.