Amgen Inc. (AMGN) Price Target Raised to $210.00
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.
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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