Allergan plc   (AGN) reported second quarter earnings per share of $4.02 on Thursday, Aug. 3.

Analysts surveyed by FactSet expected Allergan to earn $3.92 per share in the second quarter. 

Allergan stock traded relatively flat around $249.71 on Thursday.

The company reported revenue of $4 billion, jumping 8.8% from the second quarter of 2016. Allergan said the increase was driven by strong performance in its Botox, Juvederm and CoolSculpting products.

This was offset by lower revenue from products weighed down by patent exclusivity and poorly performing Restasis, which was impacted by trade buying patterns in the quarter ended June 30.

Still, there are more potential bright spots for the company going forward.

Rapastinel, for instance, is an antidepressant in phase 3 development and could be a big driver for the company.

"As a reminder, Rapastinel could be a gamechanger in MDD, As we all know, [major depressive disorder] is a condition in which patients desperately need innovation," said David Nicholson Chief R&D on the earnings call Thursday.

TheStreet's Jim Cramer noted that Allergan has made major strides since hitting its bottom and can continue to trend upward over time. He pointed to Allergan's product pipeline, which had eight major approvals this year.

"This product cycle is expected to provide a major boost for the company in the future, and we are encouraged by no news of any setbacks as the products remain on track," Cramer said. 

The company expects a GAAP net loss of between $10.80 and $11.20 per share for 2017. On a non-GAAP basis, the company sees earnings between $16.05 and $16.45.

The company raised its full-year revenue guidance to between $15.85 million and $16.05 million, up from the previous estimate of between $15.8 million and $16 million.

Allergan is a holding in Cramer's Action Alerts PLUS Charitable Trust Portfolio . Want to be alerted before Cramer buys or sells AGN? Learn more now.

More of What's Trending on TheStreet:

This story was updated to correct analyst consensus estimates for the current quarter.

More from Stocks

Johnson & Johnson Extends Slump Following $40 Billion Baby Powder Crisis Wipeout

Johnson & Johnson Extends Slump Following $40 Billion Baby Powder Crisis Wipeout

Goldman Sachs Faces Criminal Charges Linked to Malaysia's '1MDB' Scandal

Goldman Sachs Faces Criminal Charges Linked to Malaysia's '1MDB' Scandal

It's Harvest Season for Tax Losses

It's Harvest Season for Tax Losses

Santa Claus Rally? Machines Render Old Stock Market Adages Worthless

Santa Claus Rally? Machines Render Old Stock Market Adages Worthless

Procter & Gamble Helps Lead Dow Jones After Upgrade From Morgan Stanley

Procter & Gamble Helps Lead Dow Jones After Upgrade From Morgan Stanley