Amgen (AMGN) Downgraded by Vetr
Amgen (NASDAQ:AMGN) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued on Wednesday. They currently have a $184.25 target price on the medical research company’s stock. Vetr‘s target price would suggest a potential upside of 2.17% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Credit Suisse Group restated a “neutral” rating and set a $186.00 price objective (up from $177.00) on shares of Amgen in a report on Friday, September 29th. Royal Bank of Canada began coverage on shares of Amgen in a report on Thursday, September 14th. They set a “sector perform” rating and a $192.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of Amgen from $196.00 to $193.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a report on Friday, October 27th. Finally, Mizuho set a $198.00 price objective on shares of Amgen and gave the stock a “buy” rating in a report on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. Amgen has an average rating of “Hold” and a consensus price target of $190.15.
Shares of Amgen (AMGN) traded up $3.34 during trading hours on Wednesday, hitting $180.34. 3,070,100 shares of the company were exchanged, compared to its average volume of 2,610,000. Amgen has a fifty-two week low of $147.12 and a fifty-two 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. The firm has a market capitalization of $130,910.00, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 2.50 and a beta of 1.36.
Amgen declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction dated Tuesday, December 12th. The shares were 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 owns 56,106 shares of the company’s stock, valued at approximately $9,921,223.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $694,440.00. The disclosure for this sale can be found here. In the last three months, insiders sold 8,575 shares of company stock valued at $1,509,339. Insiders own 0.19% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Northcoast Asset Management acquired a new stake in Amgen in the 3rd quarter worth about $54,900,000. Meag Munich Ergo Kapitalanlagegesellschaft raised its stake in Amgen by 10.5% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft now owns 135,770 shares of the medical research company’s stock worth $18,649,000 after purchasing an additional 12,937 shares in the last quarter. Gerstein Fisher raised its stake in Amgen by 1.0% in the 3rd quarter. Gerstein Fisher now owns 9,359 shares of the medical research company’s stock worth $1,294,000 after purchasing an additional 97 shares in the last quarter. Eagle Asset Management raised its stake in Amgen by 83.2% in the 3rd quarter. Eagle Asset Management now owns 59,812 shares of the medical research company’s stock worth $8,272,000 after purchasing an additional 27,168 shares in the last quarter. Finally, TrimTabs Asset Management acquired a new stake in Amgen in the 3rd quarter worth about $2,021,000. 78.46% of the stock is owned by institutional investors.
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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).
To view Vetr’s full report, visit Vetr’s official website.
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