Amgen (NASDAQ:AMGN) was downgraded by equities researchers at Atlantic Securities from an “overweight” rating to a “neutral” rating in a research report issued on Monday. They currently have a $187.01 price target on the medical research company’s stock. Atlantic Securities’ price target points to a potential upside of 7.02% from the stock’s current price.
Several other brokerages have also issued reports on AMGN. Vetr lowered shares of Amgen from a “buy” rating to a “hold” rating and set a $184.25 target price for the company. in a research report on Wednesday, January 3rd. Royal Bank of Canada restated a “hold” rating and set a $189.00 price target on shares of Amgen in a research report on Wednesday, January 24th. Piper Jaffray Companies restated a “buy” rating on shares of Amgen in a research report on Tuesday, January 2nd. BMO Capital Markets restated a “hold” rating and set a $198.00 price target on shares of Amgen in a research report on Friday, October 20th. Finally, 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. Sixteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $191.49.
Shares of Amgen (NASDAQ:AMGN) traded down $12.26 during trading hours on Monday, reaching $174.75. 6,819,370 shares of the company traded hands, compared to its average volume of 3,020,000. Amgen has a one year low of $152.16 and a one year high of $201.23. The stock has a market capitalization of $126,850.00, a price-to-earnings ratio of 67.73, a PEG ratio of 2.69 and a beta of 1.42. The company has a debt-to-equity ratio of 1.35, a current ratio of 5.49 and a quick ratio of 5.17.
Amgen declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director Carbonnel Francois De sold 4,000 shares of the company’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $171.58, for a total transaction of $261,659.50. Following the transaction, the executive vice president now directly owns 57,631 shares of the company’s stock, valued at $9,888,326.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,575 shares of company stock valued at $1,508,836. Insiders own 0.19% of the company’s stock.
Several large investors have recently modified their holdings of the company. Baker Ellis Asset Management LLC bought a new position in Amgen in the third quarter worth about $108,000. Phocas Financial Corp. bought a new position in Amgen in the second quarter worth about $110,000. Jackson Grant Investment Advisers Inc. raised its stake in Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after buying an additional 5 shares in the last quarter. Omnia Family Wealth LLC raised its stake in Amgen by 25.3% in the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after buying an additional 147 shares in the last quarter. Finally, Grove Bank & Trust raised its stake in Amgen by 87.4% in the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after buying an additional 341 shares in the last quarter. 78.59% of the stock is 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).
