Amgen (NASDAQ:AMGN) had its target price increased by analysts at Mizuho from $192.00 to $200.00 in a report released on Monday, Marketbeat reports. The firm currently has a “buy” rating on the medical research company’s stock. Mizuho’s price target indicates a potential upside of 8.93% from the stock’s previous close.
Several other research analysts have also recently commented on AMGN. Piper Jaffray Companies reduced their target price on Amgen from $194.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Atlantic Securities cut Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 price objective for the company. in a report on Monday, February 5th. BMO Capital Markets lifted their price objective on Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Morgan Stanley cut their price objective on Amgen from $204.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Finally, Oppenheimer set a $205.00 price objective on Amgen and gave the company a “buy” rating in a report on Friday, January 5th. Sixteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Amgen currently has a consensus rating of “Hold” and an average target price of $191.84.
Shares of Amgen (NASDAQ:AMGN) traded up $4.08 during mid-day trading on Monday, reaching $183.60. The company had a trading volume of 4,490,000 shares, compared to its average volume of 4,050,000. The company has a market capitalization of $133,280.00, a PE ratio of 16.69, a P/E/G ratio of 2.16 and a beta of 1.42. Amgen has a 52-week low of $152.16 and a 52-week high of $201.23. The company has a debt-to-equity ratio of 1.35, a quick ratio of 5.17 and a current ratio of 5.49.
Amgen announced that its Board of Directors has authorized a share buyback plan on Wednesday, October 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually 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 firm’s stock in a transaction 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 sale, the executive vice president now directly owns 56,106 shares in the company, valued at $9,921,223.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Chicago Partners Investment Group LLC increased its position in Amgen by 34.5% in the second quarter. Chicago Partners Investment Group LLC now owns 1,170 shares of the medical research company’s stock worth $179,000 after purchasing an additional 300 shares during the period. Perennial Advisors LLC increased its position in Amgen by 3.7% in the second quarter. Perennial Advisors LLC now owns 13,409 shares of the medical research company’s stock worth $2,309,000 after purchasing an additional 480 shares during the period. Cambridge Trust Co. increased its position in Amgen by 0.8% in the second quarter. Cambridge Trust Co. now owns 3,690 shares of the medical research company’s stock worth $635,000 after purchasing an additional 29 shares during the period. WealthTrust Axiom LLC increased its position in Amgen by 20.5% in the second quarter. WealthTrust Axiom LLC now owns 2,055 shares of the medical research company’s stock worth $353,000 after purchasing an additional 350 shares during the period. Finally, Tdam USA Inc. increased its position in Amgen by 0.8% in the second quarter. Tdam USA Inc. now owns 60,185 shares of the medical research company’s stock worth $10,387,000 after purchasing an additional 449 shares during the period. Institutional investors own 78.95% of the company’s stock.
Amgen Company Profile
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).
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