Seeking Alpha
Profile| Send Message| ()  

Allergan (AGN) is expected to report Q1 earnings on Wednesday, May 4 before the market open with a conference call scheduled for 11:00 am ET.

Guidance

Analysts are looking for EPS of 74c on revenue of $1.22B. The consensus range is 72c-78c for EPS, and $1.19B-$1.29B for revenue, according to First Call. Positive catalysts for Allergan may include some improvement in the economy and employment rate, with which the stock is highly correlated. Additionally, an up-tick in consumer spending may have contributed to aesthetic product sales, including Botox and Juvederm sales. Also helping Botox sales may be the recent approvals for new indications for migraine treatment. Also noteworthy, from the company's Q4 conference call, is the company's comment that it was benefiting from Lumigan market share gain outside U.S. Negative headwinds may be seen from generic competition in its eye-care franchise and continued softness in the global economy, as well as implications from the Japan crisis and subsequent discretionary spending in that country. On February 2, the company said it saw Q1 EPS 71c-73c and Q1 total product net sales $1.17B-$1.22B.

Analyst Views

On April 1, Leerink upgraded Allergan to Outperform from Market Perform, citing enthusiasm for Botox use in chronic migraine and the company's execution. The firm has an $82-$83 target range for shares.

Source: Earnings Preview: Allergan