Amgen (NASDAQ:AMGN – Get Rating) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued on Thursday.
Several other research analysts have also weighed in on AMGN. Barclays boosted their price objective on shares of Amgen from $234.00 to $240.00 and gave the stock an "underweight" rating in a research note on Wednesday, January 18th. Credit Suisse Group initiated coverage on shares of Amgen in a research note on Thursday, November 17th. They set an "underperform" rating and a $240.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of Amgen from $235.00 to $240.00 and gave the stock a "sector perform" rating in a report on Friday, November 4th. SVB Leerink lifted their target price on shares of Amgen from $256.00 to $282.00 and gave the stock a "market perform" rating in a report on Thursday, December 22nd. Finally, Wells Fargo & Company lifted their target price on shares of Amgen from $250.00 to $285.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 3rd. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $253.57.
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Amgen Stock Down 0.5 %
Amgen stock opened at $253.65 on Thursday. The firm has a market capitalization of $135.34 billion, a PE ratio of 20.33, a P/E/G ratio of 1.82 and a beta of 0.67. The company's 50-day moving average is $272.02 and its 200-day moving average is $257.02. Amgen has a fifty-two week low of $214.39 and a fifty-two week high of $296.67. The company has a debt-to-equity ratio of 10.17, a current ratio of 1.68 and a quick ratio of 1.35.
Amgen (NASDAQ:AMGN – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The medical research company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.27. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.56 billion. Amgen had a net
margin of 25.96% and a return on equity of 287.23%. Amgen's revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.67 EPS. Sell-side analysts anticipate that Amgen will post 17.62 earnings per share for the current year.
Insider Buying and Selling at Amgen
In other Amgen news, SVP Nancy A. Grygiel sold 545 shares of the business's stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $293.54, for a total value of $159,979.30. Following the completion of the sale, the senior vice president now owns 13,009 shares of the company's stock, valued at approximately $3,818,661.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company's stock.
Hedge Funds Weigh In On Amgen
Hedge funds and other institutional investors have recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new position in shares of Amgen in the 3rd quarter valued at approximately $25,000. Leelyn Smith LLC raised its position in shares of Amgen by 80.3% in the 3rd quarter. Leelyn Smith LLC now owns 110 shares of the medical research company's stock valued at $25,000 after buying an additional 49 shares in the last quarter. Capital Wealth Alliance LLC acquired a new position in Amgen during the 2nd quarter worth approximately $26,000. Glassy Mountain Advisors Inc. acquired a new position in Amgen during the 4th quarter worth approximately $26,000. Finally, Coston McIsaac & Partners acquired a new position in Amgen during the 2nd quarter worth approximately $27,000. 75.53% of the stock is currently owned by institutional investors and hedge funds.
About Amgen
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Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.
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