Amgen’s (AMGN) Hold Rating Reiterated at Deutsche Bank AG
Amgen Inc. (NASDAQ:AMGN)‘s stock had its “hold” rating restated by research analysts at Deutsche Bank AG in a report issued on Wednesday. They currently have a $174.00 price target on the medical research company’s stock, up from their prior price target of $172.00. Deutsche Bank AG’s price objective would indicate a potential downside of 3.81% from the company’s current price.
Several other brokerages have also weighed in on AMGN. BMO Capital Markets lowered Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Cann reaffirmed a “buy” rating and issued a $203.00 target price (up from $189.00) on shares of Amgen in a research report on Wednesday. Cowen and Company reissued an “outperform” rating and issued a $209.00 price objective on shares of Amgen in a research report on Saturday. Credit Suisse Group set a $177.00 price objective on Amgen and gave the company a “hold” rating in a research report on Friday, July 14th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $195.00 price objective on shares of Amgen in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. Amgen has a consensus rating of “Buy” and an average target price of $185.94.
Shares of Amgen (NASDAQ AMGN) traded down 2.95% during midday trading on Wednesday, hitting $175.55. The stock had a trading volume of 2,902,534 shares. Amgen has a 12-month low of $133.64 and a 12-month high of $184.21. The stock has a market cap of $129.10 billion, a P/E ratio of 16.67 and a beta of 1.36. The stock has a 50-day moving average price of $170.78 and a 200-day moving average price of $165.90.
Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.16. The business 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%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $2.84 EPS. Equities analysts forecast that Amgen will post $12.48 earnings per share for the current year.
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In other news, SVP Cynthia M. Patton sold 2,922 shares of Amgen stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total transaction of $451,156.80. Following the sale, the senior vice president now owns 24,214 shares of the company’s stock, valued at $3,738,641.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AMGN. Integrated Wealth Management boosted its stake in shares of Amgen by 0.3% in the second quarter. Integrated Wealth Management now owns 930 shares of the medical research company’s stock valued at $141,000 after buying an additional 3 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in shares of Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after buying an additional 4 shares during the last quarter. Goelzer Investment Management Inc. boosted its stake in shares of Amgen by 0.3% in the second quarter. Goelzer Investment Management Inc. now owns 1,604 shares of the medical research company’s stock valued at $244,000 after buying an additional 5 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Amgen by 0.5% in the third quarter. Capital Advisors Ltd. LLC now owns 1,083 shares of the medical research company’s stock valued at $181,000 after buying an additional 5 shares during the last quarter. Finally, Nadler Financial Group Inc. boosted its stake in shares of Amgen by 0.3% in the second quarter. Nadler Financial Group Inc. now owns 2,111 shares of the medical research company’s stock valued at $321,000 after buying an additional 6 shares during the last quarter. 78.87% of the stock is currently owned by institutional investors.
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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