Piper Jaffray Maintains Neutral Rating and $87 PT on Allergan

A report from Piper Jaffray reiterates its Neutral rating and $87 price target on Allergan Inc. (NYSE: AGN).

The report states, “Earlier today, Allergan presented at the Piper Jaffray Healthcare Conference. Though commentary on the U.S. ramp for Botox in chronic migraine was favorable, management did suggest that uptake in ex-U.S. markets would be more gradual, and seemed to temper expectations surrounding the U.S. launch of Botox in neurogenic overactive bladder (nOAB).”

AGN closed yesterday at $83.72.