Leerink Swann Comments on Amgen Inc.’s Q2 2017 Earnings (AMGN)
Amgen Inc. (NASDAQ:AMGN) – Investment analysts at Leerink Swann boosted their Q2 2017 earnings per share (EPS) estimates for shares of Amgen in a research note issued on Monday. Leerink Swann analyst G. Porges now anticipates that the medical research company will post earnings of $3.12 per share for the quarter, up from their previous estimate of $3.07. Leerink Swann currently has a “Market Perform” rating and a $161.00 target price on the stock. Leerink Swann also issued estimates for Amgen’s Q3 2017 earnings at $3.15 EPS, Q4 2017 earnings at $3.13 EPS and FY2017 earnings at $12.55 EPS.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, April 26th. The medical research company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.15. The business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.60 billion. Amgen had a return on equity of 29.37% and a net margin of 34.42%. Amgen’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.90 EPS.
Several other brokerages also recently issued reports on AMGN. ValuEngine downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $189.00 price target on shares of Amgen in a research note on Thursday, April 6th. BidaskClub raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Robert W. Baird reaffirmed a “neutral” rating and set a $165.00 price target on shares of Amgen in a research note on Friday, April 28th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $195.00 price target on shares of Amgen in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $185.17.
Amgen (NASDAQ:AMGN) opened at 177.48 on Wednesday. The company has a market cap of $130.52 billion, a price-to-earnings ratio of 16.86 and a beta of 1.36. Amgen has a 52-week low of $133.64 and a 52-week high of $184.21. The firm’s 50-day moving average price is $168.06 and its 200-day moving average price is $165.18.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Stralem & Co. Inc. increased its position in shares of Amgen by 0.6% in the second quarter. Stralem & Co. Inc. now owns 102,615 shares of the medical research company’s stock worth $17,673,000 after buying an additional 600 shares during the period. First Quadrant L P CA increased its position in Amgen by 80.4% in the second quarter. First Quadrant L P CA now owns 328,523 shares of the medical research company’s stock valued at $56,582,000 after buying an additional 146,396 shares during the period. Aperio Group LLC increased its position in Amgen by 9.1% in the second quarter. Aperio Group LLC now owns 365,006 shares of the medical research company’s stock valued at $62,865,000 after buying an additional 30,467 shares during the period. Tarbox Family Office Inc. increased its position in Amgen by 514.0% in the second quarter. Tarbox Family Office Inc. now owns 1,314 shares of the medical research company’s stock valued at $226,000 after buying an additional 1,100 shares during the period. Finally, Beech Hill Advisors Inc. increased its position in Amgen by 26.4% in the second quarter. Beech Hill Advisors Inc. now owns 2,003 shares of the medical research company’s stock valued at $345,000 after buying an additional 418 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.
In other Amgen news, SVP Cynthia M. Patton sold 2,922 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total value of $451,156.80. Following the completion of the transaction, the senior vice president now owns 24,214 shares in the company, valued at $3,738,641.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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