Amgen (NASDAQ:AMGN) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $184.00 to $189.00 in a research note issued to investors on Wednesday. The firm presently has a “neutral” rating on the medical research company’s stock. JPMorgan Chase & Co.’s target price would indicate a potential downside of 3.58% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. Mizuho set a $192.00 price objective on shares of Amgen and gave the stock a “buy” rating in a research note on Friday, December 22nd. Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Royal Bank of Canada reduced their price objective on shares of Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a research note on Thursday, October 26th. Credit Suisse Group restated a “neutral” rating and set a $186.00 price objective (up from $177.00) on shares of Amgen in a research note on Friday, September 29th. Finally, Oppenheimer restated a “buy” rating and set a $205.00 price objective on shares of Amgen in a research note on Thursday, November 30th. Fifteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $191.28.
Shares of Amgen (AMGN) traded up $5.93 during midday trading on Wednesday, reaching $196.01. 3,920,000 shares of the company were exchanged, compared to its average volume of 2,780,000. The firm has a market cap of $142,290.00, a price-to-earnings ratio of 17.71, a PEG ratio of 2.80 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. Amgen has a 12-month low of $152.16 and a 12-month high of $196.80.
Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.02 EPS. analysts expect that Amgen will post 12.69 earnings per share for the current fiscal year.
Amgen declared that its board has authorized a stock buyback plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total value of $283,070.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was 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. Over the last three months, insiders sold 8,575 shares of company stock worth $1,508,836. Insiders own 0.19% of the company’s stock.
Several large investors have recently made changes to their positions in the business. Arthur M. Cohen & Associates LLC acquired a new stake in shares of Amgen during the 4th quarter worth approximately $11,935,000. Advisor Partners LLC boosted its position in shares of Amgen by 8.7% during the 4th quarter. Advisor Partners LLC now owns 14,665 shares of the medical research company’s stock worth $2,776,000 after acquiring an additional 1,172 shares in the last quarter. Nelson Roberts Investment Advisors LLC boosted its position in shares of Amgen by 299.9% during the 4th quarter. Nelson Roberts Investment Advisors LLC now owns 3,107 shares of the medical research company’s stock worth $540,000 after acquiring an additional 2,330 shares in the last quarter. Parsec Financial Management Inc. boosted its position in shares of Amgen by 0.5% during the 4th quarter. Parsec Financial Management Inc. now owns 133,928 shares of the medical research company’s stock worth $23,290,000 after acquiring an additional 630 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in shares of Amgen by 43.2% during the 4th quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 72,311 shares of the medical research company’s stock worth $12,747,000 after acquiring an additional 21,798 shares in the last quarter. Hedge funds and other institutional investors own 78.48% 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).