Amgen Inc. (AMGN) Receives New Coverage from Analysts at Royal Bank Of Canada
Equities researchers at Royal Bank Of Canada started coverage on shares of Amgen Inc. (NASDAQ:AMGN) in a note issued to investors on Thursday, The Fly reports. The brokerage set a “sector perform” rating on the medical research company’s stock.
Other analysts have also recently issued reports about the stock. Cann reaffirmed a “buy” rating on shares of Amgen in a research note on Monday, August 28th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $203.00 price objective on shares of Amgen in a research note on Thursday, September 7th. Deutsche Bank AG initiated coverage on shares of Amgen in a research note on Friday, June 23rd. They set a “hold” rating and a $172.00 price objective for the company. ValuEngine cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, William Blair reaffirmed a “market perform” rating on shares of Amgen in a research report on Monday, June 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $186.04.
Amgen (NASDAQ:AMGN) traded down 0.13% during trading on Thursday, reaching $189.46. The company had a trading volume of 1,783,516 shares. The stock has a market capitalization of $138.24 billion, a price-to-earnings ratio of 17.26 and a beta of 1.35. Amgen has a 1-year low of $133.64 and a 1-year high of $191.10. The firm has a 50-day moving average of $174.23 and a 200-day moving average of $168.94.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The company had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same period last year, the firm earned $2.84 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts anticipate that Amgen will post $12.57 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. TrimTabs Asset Management LLC lifted its stake in Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after buying an additional 288 shares in the last quarter. Alpha Omega Wealth Management LLC lifted its position in shares of 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 purchasing an additional 100 shares in the last quarter. Jackson Grant Investment Advisers Inc. lifted its position 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 worth $104,000 after purchasing an additional 4 shares in the last quarter. American Beacon Advisors Inc. bought a new stake in shares of Amgen in the first quarter worth $106,000. Finally, Phocas Financial Corp. bought a new stake in shares of Amgen in the second quarter worth $110,000. Hedge funds and other institutional investors own 78.14% 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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