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Actionable news in AGN: ALLERGAN Inc,

Allergan Needs a Shot of Investor Confidence

Allergan Pharmaceuticals (AGN) is a volatile stock at a time when drug stocks are under the microscope. Shares, currently trading around $213, are down almost 32% for the year to date.

Despite the drop, I think the stock can be cured. AGN reports third-quarter earnings on Wednesday.

Allergan has had a busy year. Its tax inversion deal with Pfizer (PFE) was derailed by federal regulators, the company dumped its generic drug business on Teva Pharmaceuticals (TEVA) and management has gone on a dilutive acquisition spree that has kept downward pressure on the stock.

On Aug. 11, Allergan announced it would acquire eye care company ForSight Visions. On Sept. 6, AGN cut a deal to buy Retrosense...