Amgen (NASDAQ:AMGN) received a $205.00 price target from equities researchers at Oppenheimer in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the medical research company’s stock. Oppenheimer’s price target would suggest a potential upside of 13.79% from the company’s current price.
Other equities research analysts have also issued research reports about the company. Mizuho reissued a “buy” rating and issued a $198.00 target price on shares of Amgen in a research report on Friday, October 6th. Cann reissued a “buy” rating and issued a $203.00 target price on shares of Amgen in a research report on Friday, October 6th. Bank of America lifted their target price on Amgen to $210.00 and gave the company a “buy” rating in a research report on Thursday, October 5th. Jefferies Group reaffirmed a “buy” rating and set a $200.00 price target on shares of Amgen in a research report on Monday, September 25th. Finally, Zacks Investment Research raised Amgen from a “hold” rating to a “buy” rating and set a $199.00 price target on the stock in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $190.15.
Amgen (NASDAQ AMGN) traded up $0.58 during trading hours on Friday, hitting $180.16. The stock had a trading volume of 634,308 shares, compared to its average volume of 2,468,667. Amgen has a fifty-two week low of $150.38 and a fifty-two week high of $191.10. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. The company has a market cap of $130,800.00, a PE ratio of 16.27, a PEG ratio of 2.59 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same quarter last year, the firm earned $3.02 EPS. Amgen’s revenue for the quarter was down .7% compared to the same quarter last year. equities analysts anticipate that Amgen will post 12.71 earnings per share for the current year.
Amgen announced that its board has authorized a share repurchase plan on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $176.83, for a total transaction of $269,665.75. Following the completion of the sale, 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 SEC, which is accessible through this hyperlink. Also, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were 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. Over the last quarter, insiders have sold 8,575 shares of company stock valued at $1,509,339. Corporate insiders own 0.19% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in shares of Amgen by 3,664.7% during 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 buying an additional 3,601,087 shares in the last quarter. FMR LLC boosted its position in shares of Amgen by 4.8% during the 2nd quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock valued at $9,817,037,000 after purchasing an additional 2,587,041 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Amgen by 40.9% during the 2nd quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock valued at $585,607,000 after purchasing an additional 986,700 shares in the last quarter. BlackRock Inc. boosted its position in shares of Amgen by 1.9% during the 2nd quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock valued at $8,516,980,000 after purchasing an additional 909,689 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Amgen by 12.9% during the 2nd quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock valued at $1,212,602,000 after purchasing an additional 806,119 shares in the last quarter. Hedge funds and other institutional investors own 78.46% 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).