Amgen Inc. (AMGN) Given Consensus Recommendation of “Buy” by Brokerages
Amgen Inc. (NASDAQ:AMGN) has been assigned a consensus recommendation of “Buy” from the twenty-eight ratings firms that are presently covering the firm, Marketbeat reports. One 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 given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $184.89.
Several analysts have recently commented on the stock. Vetr raised shares of Amgen from a “buy” rating to a “strong-buy” rating and set a $184.82 price target on the stock in a research report on Monday, March 27th. Jefferies Group LLC reaffirmed a “hold” rating and set a $180.00 price target on shares of Amgen in a research report on Monday, May 22nd. Leerink Swann reaffirmed a “market perform” rating and set a $161.00 price target on shares of Amgen in a research report on Thursday, June 22nd. Credit Suisse Group set a $177.00 price target on shares of Amgen and gave the company a “hold” rating in a research report on Friday, July 14th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $209.00 price target on shares of Amgen in a research report on Wednesday, April 19th.
In related news, SVP Cynthia M. Patton sold 2,922 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total transaction 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 accessible through the SEC website. Insiders own 0.20% of the company’s stock.
Several institutional investors have recently modified their holdings of AMGN. First Republic Investment Management Inc. increased its position in shares of Amgen by 3.0% in the fourth quarter. First Republic Investment Management Inc. now owns 558,210 shares of the medical research company’s stock worth $81,616,000 after buying an additional 16,521 shares during the last quarter. Camelot Portfolios LLC bought a new position in Amgen during the first quarter valued at about $1,429,000. Private Asset Management Inc. increased its position in Amgen by 117.8% in the first quarter. Private Asset Management Inc. now owns 3,591 shares of the medical research company’s stock valued at $589,000 after buying an additional 1,942 shares in the last quarter. Quest Investment Management Inc. OR increased its position in Amgen by 2,608.6% in the fourth quarter. Quest Investment Management Inc. OR now owns 59,372 shares of the medical research company’s stock valued at $8,681,000 after buying an additional 57,180 shares in the last quarter. Finally, Cadence Bank NA increased its position in Amgen by 6.2% in the first quarter. Cadence Bank NA now owns 3,376 shares of the medical research company’s stock valued at $554,000 after buying an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.
Amgen (NASDAQ:AMGN) traded up 0.50% on Friday, hitting $180.21. The stock had a trading volume of 2,674,714 shares. The stock has a market cap of $132.53 billion, a PE ratio of 17.12 and a beta of 1.36. The firm’s 50 day moving average price is $169.47 and its 200-day moving average price is $165.39. Amgen has a 12 month low of $133.64 and a 12 month high of $184.21.
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 the Thomson Reuters’ consensus estimate of $3.00 by $0.15. The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.60 billion. Amgen had a net margin of 34.42% and a return on equity of 29.37%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.90 EPS. On average, analysts forecast that Amgen will post $12.47 EPS for the current year.
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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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