Amgen’s (AMGN) “Buy” Rating Reaffirmed at Cann
Amgen Inc. (NASDAQ:AMGN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Cann in a research report issued on Friday. They currently have a $203.00 price objective on the medical research company’s stock. Cann’s price objective suggests a potential upside of 8.66% from the company’s previous close.
The analysts wrote, “Amgen yesterday announced that the Journal of Clinical Oncology has published positive results from the Imlygic (talimogene laherparepvec) phase II ‘264 study, demonstrating a doubling of response rate or better in the Imlygic combination arm. The data published yesterday in JCO are encouraging, and these along with results from ongoing studies could lead to unexpected adoption of Imlygic and provide upside to our sales estimates. These data demonstrated that Imlygic has a dramatic effect in combination with Yervoy, and the combination looks as strong a much of the reference data for other combinations.””
AMGN has been the subject of a number of other reports. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $203.00 price target on shares of Amgen in a research note on Thursday, September 7th. Deutsche Bank AG initiated coverage on Amgen in a research note on Friday, June 23rd. They issued a “hold” rating and a $172.00 price target for the company. William Blair reiterated a “market perform” rating on shares of Amgen in a research note on Monday, June 26th. Mizuho reiterated a “buy” rating and issued a $198.00 price target (up from $183.00) on shares of Amgen in a research note on Thursday, September 28th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $195.00 price target on shares of Amgen in a research note on Monday, July 17th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $189.35.
Shares of Amgen (NASDAQ:AMGN) opened at 186.85 on Friday. The stock has a market capitalization of $136.34 billion, a P/E ratio of 17.02 and a beta of 1.36. The stock has a 50 day moving average price of $180.82 and a 200 day moving average price of $170.11. Amgen has a 12-month low of $133.64 and a 12-month high of $191.10. Amgen also was the target of unusually large options trading on Thursday. Traders bought 9,350 put options on the company. This represents an increase of 239% compared to the typical volume of 2,758 put options.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. The business 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 company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $2.84 earnings per share. On average, equities analysts anticipate that Amgen will post $12.57 earnings per share for the current fiscal year.
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Several institutional investors have recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. grew its holdings in shares of Amgen by 0.6% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after acquiring an additional 4 shares in the last quarter. Financial Advisory Service Inc. grew its holdings in shares of Amgen by 0.3% during the 2nd quarter. Financial Advisory Service Inc. now owns 1,974 shares of the medical research company’s stock valued at $340,000 after acquiring an additional 5 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Amgen by 0.6% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,103 shares of the medical research company’s stock valued at $190,000 after acquiring an additional 7 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Amgen by 0.3% during the 2nd quarter. Ballentine Partners LLC now owns 3,441 shares of the medical research company’s stock valued at $620,000 after acquiring an additional 9 shares in the last quarter. Finally, Hudock Capital Group LLC grew its holdings in shares of Amgen by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock valued at $330,000 after acquiring an additional 10 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.
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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