Amgen Inc. (NASDAQ:AMGN)‘s stock had its “buy” rating reiterated by equities research analysts at Cann in a note issued to investors on Monday.

The analysts wrote, “Amgen announced today positive results from a new Repatha (evolocumab) analysis of cardiovascular outcomes study (FOURIER) that showed a statistically significant relationship between lower achieved low-density lipoprotein cholesterol (LDL-C) levels and lower cardiovascular event rates in patients with established atherosclerotic cardiovascular disease. Importantly, there was no evidence of a leveling off of effect and no new safety concerns were identified in this analysis.””

Several other equities research analysts also recently issued reports on AMGN. Mizuho set a $195.00 price objective on Amgen and gave the stock a “buy” rating in a research note on Saturday, May 6th. Oppenheimer Holdings, Inc. set a $189.00 price objective on Amgen and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Vetr raised Amgen from a “buy” rating to a “strong-buy” rating and set a $179.72 price objective for the company in a research note on Thursday, May 11th. Jefferies Group LLC reissued a “hold” rating and issued a $180.00 price objective on shares of Amgen in a research note on Monday, May 22nd. Finally, UBS AG reissued a “neutral” rating and issued a $174.00 price objective (down from $175.00) on shares of Amgen in a research note on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $186.04.

Amgen (NASDAQ AMGN) traded up 1.649% during trading on Monday, hitting $172.539. The stock had a trading volume of 549,568 shares. The firm has a 50 day moving average price of $173.53 and a 200-day moving average price of $168.31. The firm has a market capitalization of $125.90 billion, a PE ratio of 15.715 and a beta of 1.35. Amgen has a 1-year low of $133.64 and a 1-year high of $184.21.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.16. The firm had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.84 EPS. On average, equities research analysts expect that Amgen will post $12.57 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/08/28/amgens-amgn-buy-rating-reaffirmed-at-cann.html.

A number of hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC acquired a new stake in Amgen during the second quarter worth about $14,175,000. United Bank VA raised its stake in Amgen by 7.4% in the second quarter. United Bank VA now owns 28,581 shares of the medical research company’s stock worth $4,923,000 after buying an additional 1,960 shares during the period. Farmers National Bank raised its stake in Amgen by 5.4% in the second quarter. Farmers National Bank now owns 5,166 shares of the medical research company’s stock worth $890,000 after buying an additional 264 shares during the period. Phocas Financial Corp. acquired a new stake in Amgen during the second quarter worth about $110,000. Finally, RNC Capital Management LLC raised its stake in Amgen by 7.4% in the second quarter. RNC Capital Management LLC now owns 139,568 shares of the medical research company’s stock worth $24,038,000 after buying an additional 9,575 shares during the period. 78.12% of the stock is currently owned by hedge funds and other 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).

Analyst Recommendations for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.