Oppenheimer Holdings, Inc. Reaffirms “Buy” Rating for Amgen Inc. (AMGN)
Amgen Inc. (NASDAQ:AMGN)‘s stock had its “buy” rating reissued by investment analysts at Oppenheimer Holdings, Inc. in a research report issued on Thursday. They currently have a $203.00 price objective on the medical research company’s stock. Oppenheimer Holdings, Inc.’s target price suggests a potential upside of 13.80% from the stock’s previous close.
Several other analysts have also commented on AMGN. BMO Capital Markets lowered Amgen from an “outperform” rating to a “market perform” rating and set a $199.00 price objective on the stock. in a report on Friday, July 21st. They noted that the move was a valuation call. Jefferies Group LLC reissued a “hold” rating and issued a $180.00 price objective on shares of Amgen in a report on Monday, May 22nd. Leerink Swann reissued a “market perform” rating and issued a $161.00 price objective on shares of Amgen in a report on Thursday, June 22nd. Credit Suisse Group set a $177.00 price objective on Amgen and gave the company a “hold” rating in a report on Friday, July 14th. Finally, UBS AG set a $180.00 price objective on Amgen and gave the company a “hold” rating in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Amgen presently has an average rating of “Buy” and a consensus target price of $186.04.
Amgen (NASDAQ AMGN) traded up 1.54% during mid-day trading on Thursday, hitting $181.13. The stock had a trading volume of 2,166,555 shares. The stock has a market cap of $132.17 billion, a price-to-earnings ratio of 16.50 and a beta of 1.35. The stock’s 50-day moving average price is $173.69 and its 200-day moving average price is $168.62. Amgen has a 12 month low of $133.64 and a 12 month high of $184.21.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.11 by $0.16. The firm had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. Amgen’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $2.84 earnings per share. On average, analysts predict that Amgen will post $12.57 earnings per share for the current year.
Several large investors have recently modified their holdings of AMGN. TrimTabs Asset Management LLC lifted its position in Amgen by 88.9% during 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 in the last quarter. Alpha Omega Wealth Management LLC lifted its position in Amgen by 19.0% during 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 in the last quarter. Jackson Grant Investment Advisers Inc. lifted its position in Amgen by 0.6% during 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 in the last quarter. American Beacon Advisors Inc. purchased a new position in Amgen during the first quarter worth approximately $106,000. Finally, Phocas Financial Corp. purchased a new position in Amgen during the second quarter worth approximately $110,000. 78.13% 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).
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