Credit Suisse Increases Amgen Price Target to $135.00 (AMGN)
Analysts at Credit Suisse raised their target price on shares of Amgen (NASDAQ:AMGN) from $125.00 to $135.00 in a research report issued to clients and investors on Thursday. Credit Suisse’s price objective would suggest a potential upside of 7.53% from the company’s current price.
A number of other firms have also recently commented on AMGN. Analysts at Cowen and Company raised their price target on shares of Amgen from $131.00 to $145.00 in a research note on Thursday. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Amgen in a research note on Wednesday. They now have a $160.00 price target on the stock, up previously from $149.00. Finally, analysts at Nomura reiterated a “neutral” rating on shares of Amgen in a research note on Wednesday. They now have a $142.00 price target on the stock, up previously from $129.00. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $139.17.
Shares of Amgen (NASDAQ:AMGN) traded down 1.44% on Thursday, hitting $125.55. 4,543,694 shares of the company’s stock traded hands. Amgen has a 52 week low of $103.31 and a 52 week high of $131.24. The stock has a 50-day moving average of $120.1 and a 200-day moving average of $119.0. The company has a market cap of $95.292 billion and a price-to-earnings ratio of 19.51.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $2.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.07 by $0.30. The company had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the company posted $1.89 earnings per share. Amgen’s revenue was up 10.7% compared to the same quarter last year. On average, analysts predict that Amgen will post $8.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 5th. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Tuesday, August 12th.
Amgen Inc is a global biotechnology pioneer that discovers, develops, manufactures and delivers human therapeutics.
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