Amgen (NASDAQ:AMGN) has been assigned a $192.00 target price by research analysts at Mizuho in a research report issued on Friday. The brokerage currently has a “buy” rating on the medical research company’s stock. Mizuho’s price objective suggests a potential upside of 8.67% from the company’s previous close.
A number of other research analysts also recently issued reports on the stock. Citigroup downgraded shares of Amgen to a “neutral” rating in a research report on Monday. Goldman Sachs Group downgraded shares of Amgen from a “conviction-buy” rating to a “buy” rating in a research report on Friday, December 15th. Oppenheimer set a $205.00 price target on shares of Amgen and gave the stock a “buy” rating in a research report on Tuesday, December 12th. BidaskClub upgraded shares of Amgen from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 2nd. Finally, Cann restated a “buy” rating and issued a $205.00 price target on shares of Amgen in a research report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $189.94.
Amgen (NASDAQ AMGN) traded down $0.43 during midday trading on Friday, reaching $176.68. 2,106,300 shares of the company’s stock were exchanged, compared to its average volume of 3,206,051. Amgen has a 12-month low of $145.12 and a 12-month high of $191.10. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. The company has a market cap of $128,250.00, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 2.56 and a beta of 1.36.
Amgen announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,575 shares of company stock worth $1,509,339. 0.19% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its stake in shares of Amgen by 3,664.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock worth $637,139,000 after purchasing an additional 3,601,087 shares during the last quarter. FMR LLC grew its stake in shares of Amgen by 4.8% in the 2nd quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock worth $9,817,037,000 after purchasing an additional 2,587,041 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Amgen by 40.9% in the 2nd quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock worth $585,607,000 after purchasing an additional 986,700 shares during the last quarter. BlackRock Inc. grew its stake in shares of Amgen by 1.9% in the 2nd quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock worth $8,516,980,000 after purchasing an additional 909,689 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Amgen by 12.9% in the 2nd quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock worth $1,212,602,000 after purchasing an additional 806,119 shares during the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.
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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).
