Amgen Given New $153.00 Price Target at Leerink Swann (AMGN)
Stock analysts at Leerink Swann boosted their target price on shares of Amgen (NASDAQ:AMGN) from $140.00 to $153.00 in a report issued on Tuesday. The firm currently has a “market perform” rating on the stock. Leerink Swann’s target price would suggest a potential upside of 9.77% from the company’s current price.
Shares of Amgen (NASDAQ:AMGN) opened at 139.38 on Tuesday. Amgen has a one year low of $105.76 and a one year high of $139.73. The stock has a 50-day moving average of $127.1 and a 200-day moving average of $120.8. The company has a market cap of $105.9 billion and a P/E ratio of 21.24. Amgen also was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 10,819,524 shares, a growth of 13.4% from the July 31st total of 9,538,010 shares. Based on an average daily trading volume, of 3,700,441 shares, the short-interest ratio is currently 2.9 days. Currently, 1.4% of the shares of the stock are short sold.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $2.37 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.89 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts expect that Amgen will post $8.40 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 5th. Investors of record on Thursday, August 14th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, August 12th.
Several other analysts have also recently commented on the stock. Analysts at Argus reiterated a “buy” rating on shares of Amgen in a research note on Monday, August 4th. They now have a $140.00 price target on the stock, up previously from $135.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Amgen in a research note on Thursday, July 31st. They now have a $137.00 price target on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Amgen from $125.00 to $135.00 in a research note on Thursday, July 31st. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $140.76.
Amgen Inc is a global biotechnology pioneer that discovers, develops, manufactures and delivers human therapeutics.
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