Amgen Inc. (NASDAQ:AMGN) Given New $185.00 Price Target at UBS AG
Amgen Inc. (NASDAQ:AMGN) had its target price raised by equities researchers at UBS AG from $175.00 to $185.00 in a note issued to investors on Wednesday, www.benzinga.com reports. The firm currently has a “neutral” rating on the medical research company’s stock. UBS AG’s price objective points to a potential upside of 5.18% from the company’s previous close.
Other analysts have also issued research reports about the company. Deutsche Bank AG assumed coverage on Amgen in a research note on Friday, June 23rd. They set a “hold” rating and a $172.00 price objective on the stock. Credit Suisse Group restated a “hold” rating and issued a $178.00 price objective on shares of Amgen in a report on Tuesday, April 4th. ValuEngine downgraded Amgen from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Oppenheimer Holdings, Inc. set a $189.00 price objective on Amgen and gave the stock a “buy” rating in a report on Monday, June 5th. Finally, Mizuho restated a “buy” rating and issued a $195.00 price objective on shares of Amgen in a report on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $187.03.
Shares of Amgen (NASDAQ AMGN) traded down 2.76% during midday trading on Wednesday, hitting $175.89. 5,445,635 shares of the stock were exchanged. The firm has a 50 day moving average of $170.78 and a 200-day moving average of $165.90. Amgen has a one year low of $133.64 and a one year high of $184.21. The company has a market cap of $129.35 billion, a price-to-earnings ratio of 16.71 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 29.37% and a net margin of 34.42%. Amgen’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.84 earnings per share. Equities analysts expect that Amgen will post $12.48 EPS for the current year.
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In other Amgen news, SVP Cynthia M. Patton sold 2,922 shares of the stock in a transaction dated Wednesday, May 24th. The stock was 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 filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC boosted its position in Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after buying an additional 288 shares during the period. Thomas J. Herzfeld Advisors Inc. purchased a new position in Amgen during the fourth quarter worth about $102,000. Alpha Omega Wealth Management LLC boosted its position in Amgen by 19.0% in the first quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock worth $103,000 after buying an additional 100 shares during the period. Jackson Grant Investment Advisers Inc. boosted its position in Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock worth $104,000 after buying an additional 4 shares during the period. Finally, American Beacon Advisors Inc. purchased a new position in Amgen during the first quarter worth about $106,000. Hedge funds and other institutional investors own 78.87% 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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