Amgen Inc. (NASDAQ:AMGN) Rating Reiterated by Cowen and Company
Amgen Inc. (NASDAQ:AMGN)‘s stock had its “outperform” rating restated by Cowen and Company in a note issued to investors on Saturday. They currently have a $209.00 price objective on the medical research company’s stock. Cowen and Company’s price target indicates a potential upside of 15.98% from the stock’s previous close.
A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets restated a “buy” rating and issued a $199.00 price objective on shares of Amgen in a report on Friday. Jefferies Group LLC restated a “buy” rating and issued a $195.00 price objective on shares of Amgen in a report on Monday, July 17th. Credit Suisse Group AG set a $177.00 price objective on shares of Amgen and gave the company a “hold” rating in a report on Friday, July 14th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $189.00 price objective on shares of Amgen in a report on Friday, July 14th. Finally, Morgan Stanley restated an “overweight” rating on shares of Amgen in a report on Monday, July 10th. One 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 company. Amgen currently has an average rating of “Buy” and a consensus target price of $185.21.
Amgen (NASDAQ:AMGN) traded up 0.50% during trading on Friday, reaching $180.21. 2,674,714 shares of the company’s stock traded hands. Amgen has a 12-month low of $133.64 and a 12-month high of $184.21. The company has a market cap of $132.53 billion, a PE ratio of 17.12 and a beta of 1.36. The company has a 50 day moving average price of $169.47 and a 200-day moving average price of $165.39.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, April 26th. The medical research company reported $3.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.00 by $0.15. Amgen had a net margin of 34.42% and a return on equity of 29.37%. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same period last year, the business earned $2.90 EPS. The company’s revenue was down 1.1% on a year-over-year basis. On average, equities research analysts forecast that Amgen will post $12.47 EPS for the current fiscal year.
In other news, SVP Cynthia M. Patton sold 2,922 shares of the firm’s stock in a transaction dated 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 approximately $3,738,641.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AMGN. Gilbert & Cook Inc. purchased a new stake in Amgen during the second quarter worth approximately $230,000. Duncker Streett & Co. Inc. raised its stake in Amgen by 8.3% in the second quarter. Duncker Streett & Co. Inc. now owns 5,580 shares of the medical research company’s stock worth $961,000 after buying an additional 430 shares during the period. Huntington National Bank raised its stake in Amgen by 1.2% in the second quarter. Huntington National Bank now owns 251,054 shares of the medical research company’s stock worth $43,239,000 after buying an additional 3,090 shares during the period. Bridges Investment Counsel Inc. raised its stake in Amgen by 82.4% in the second quarter. Bridges Investment Counsel Inc. now owns 25,869 shares of the medical research company’s stock worth $4,455,000 after buying an additional 11,688 shares during the period. Finally, Private Bank & Trust Co. raised its stake in Amgen by 19.2% in the second quarter. Private Bank & Trust Co. now owns 4,190 shares of the medical research company’s stock worth $721,000 after buying an additional 676 shares during the period. 78.80% of the stock is owned by institutional investors.
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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