Amgen (NASDAQ:AMGN) has been given a $205.00 target price by analysts at Oppenheimer in a research note issued on Tuesday, December 12th. The firm presently has a “buy” rating on the medical research company’s stock. Oppenheimer’s price target points to a potential upside of 16.20% from the stock’s previous close.
AMGN has been the subject of several other research reports. Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $199.00 price target for the company in a research report on Friday, October 27th. Bank of America upped their price target on shares of Amgen to $210.00 and gave the company a “buy” rating in a research report on Thursday, October 5th. Barclays upped their price target on shares of Amgen from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, October 13th. Royal Bank of Canada initiated coverage on shares of Amgen in a research report on Thursday, September 14th. They set a “sector perform” rating and a $192.00 price target for the company. Finally, Cann reissued a “buy” rating and issued a $203.00 target price on shares of Amgen in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $189.94.
Shares of Amgen (NASDAQ AMGN) traded down $0.26 during trading on Tuesday, reaching $176.42. 1,469,969 shares of the company were exchanged, compared to its average volume of 2,750,000. The company has a market cap of $128,070.00, a PE ratio of 15.94, a price-to-earnings-growth ratio of 2.56 and a beta of 1.36. Amgen has a 52 week low of $145.62 and a 52 week high of $191.10. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05.
Amgen declared that its board has authorized a stock buyback program on Wednesday, October 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $176.83, for a total value of $269,665.75. Following the completion of the transaction, the executive vice president now directly owns 56,106 shares in the company, valued at approximately $9,921,223.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. Insiders sold a total of 8,575 shares of company stock valued at $1,509,339 over the last 90 days. 0.19% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. TrimTabs Asset Management LLC increased its stake in shares of Amgen by 88.9% during 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 during the period. American Beacon Advisors Inc. purchased a new position in shares of Amgen during the first quarter valued at $106,000. Baker Ellis Asset Management LLC purchased a new position in shares of Amgen during the third quarter valued at $108,000. Jackson Grant Investment Advisers Inc. increased its stake in shares of Amgen by 0.8% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares during the period. Finally, Phocas Financial Corp. purchased a new position in shares of Amgen during the second quarter valued at $110,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.
WARNING: This story was originally posted by American Market News and is the property of of American Market News. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States and international trademark & copyright law. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/12/24/oppenheimer-analysts-give-amgen-amgn-a-205-00-price-target.html.
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).
