Amgen Inc. (NASDAQ:AMGN) had its price objective boosted by equities research analysts at Bank of America Corporation to $210.00 in a research note issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Bank of America Corporation’s target price indicates a potential upside of 11.35% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Mizuho restated a “buy” rating and issued a $195.00 target price on shares of Amgen in a report on Sunday, July 9th. ValuEngine upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Oppenheimer Holdings, Inc. set a $189.00 price objective on shares of Amgen and gave the stock a “buy” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Amgen in a research note on Tuesday, July 11th. Finally, Cann reiterated a “buy” rating and set a $203.00 price objective (up from $189.00) on shares of Amgen in a research note on Wednesday, July 26th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Amgen presently has an average rating of “Buy” and an average price target of $189.35.

Amgen (NASDAQ:AMGN) traded down 1.97% during trading on Thursday, hitting $184.87. 2,006,575 shares of the company were exchanged. Amgen has a 12 month low of $133.64 and a 12 month high of $191.10. The company has a 50-day moving average of $180.38 and a 200-day moving average of $169.99. The company has a market capitalization of $134.89 billion, a price-to-earnings ratio of 16.84 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.16. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The firm had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same period in the previous year, the firm earned $2.84 earnings per share. Amgen’s revenue was up 2.1% compared to the same quarter last year. Analysts forecast that Amgen will post $12.57 EPS for the current year.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. Camelot Portfolios LLC acquired a new stake in Amgen in the first quarter valued at $1,429,000. PGGM Investments raised its holdings in Amgen by 2.3% in the second quarter. PGGM Investments now owns 670,936 shares of the medical research company’s stock valued at $115,555,000 after acquiring an additional 15,059 shares in the last quarter. Shelton Capital Management raised its holdings in Amgen by 82.7% in the first quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock valued at $17,883,000 after acquiring an additional 49,354 shares in the last quarter. Greylin Investment Mangement Inc. raised its holdings in Amgen by 466.9% in the second quarter. Greylin Investment Mangement Inc. now owns 14,030 shares of the medical research company’s stock valued at $2,416,000 after acquiring an additional 11,555 shares in the last quarter. Finally, Kelman Lazarov Inc. raised its holdings in Amgen by 8.2% in the second quarter. Kelman Lazarov Inc. now owns 1,580 shares of the medical research company’s stock valued at $272,000 after acquiring an additional 120 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

About Amgen

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).

The Fly

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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