Amgen (NASDAQ:AMGN) PT Lowered to $230.00


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Amgen (NASDAQ:AMGN) had its price target dropped by equities research analysts at SVB Leerink from $267.00 to $230.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the medical research company’s stock. SVB Leerink’s price objective would suggest a potential downside of 6.73% from the stock’s previous close. SVB Leerink also issued estimates for Amgen’s FY2022 earnings at $16.58 EPS, FY2023 earnings at $18.33 EPS, FY2024 earnings at $20.13 EPS and FY2025 earnings at $22.23 EPS.

AMGN has been the topic of a number of other reports. Robert W. Baird restated a “sell” rating on shares of Amgen in a report on Thursday, April 29th. Oppenheimer reduced their price target on shares of Amgen from $275.00 to $265.00 and set an “outperform” rating for the company in a research report on Monday. The Goldman Sachs Group reiterated a “buy” rating and issued a $290.00 target price on shares of Amgen in a research note on Wednesday, April 28th. Royal Bank of Canada lowered their price target on shares of Amgen from $220.00 to $217.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 28th. Finally, Piper Sandler reduced their price objective on Amgen from $280.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, February 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $255.62.

Shares of AMGN stock traded up $1.21 during midday trading on Tuesday, hitting $246.59. 42,297 shares of the company were exchanged, compared to its average volume of 2,714,429. Amgen has a 52 week low of $210.28 and a 52 week high of $276.69. The firm has a market capitalization of $141.99 billion, a P/E ratio of 19.72, a PEG ratio of 1.90 and a beta of 0.76. The firm’s 50 day moving average price is $248.86 and its two-hundred day moving average price is $236.11. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.88 and a current ratio of 2.28.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Monday, April 26th. The medical research company reported $3.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.05 by ($0.35). Amgen had a return on equity of 95.55% and a net margin of 29.42%. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.30 billion. During the same period in the previous year, the business posted $4.17 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. Analysts expect that Amgen will post 16.15 EPS for the current year.

In related news, Director Ronald D. Sugar sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 10th. The stock was sold at an average price of $238.40, for a total value of $238,400.00. Following the completion of the sale, the director now owns 16,805 shares of the company’s stock, valued at $4,006,312. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan P. Graham sold 11,110 shares of Amgen stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $236.51, for a total transaction of $2,627,626.10. The disclosure for this sale can be found here. Insiders sold 14,360 shares of company stock worth $3,407,034 in the last 90 days. Corporate insiders own 0.36% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Better Money Decisions LLC purchased a new position in shares of Amgen in the 1st quarter valued at approximately $27,000. Fort Pitt Capital Group LLC bought a new stake in Amgen during the fourth quarter worth about $28,000. Norway Savings Bank bought a new position in shares of Amgen during the fourth quarter valued at approximately $29,000. Crescent Capital Consulting LLC purchased a new position in shares of Amgen during the fourth quarter valued at approximately $34,000. Finally, Wealthcare Capital Management LLC purchased a new stake in shares of Amgen in the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 75.23% of the company’s stock.

About Amgen

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, BLINCYTO, Corlanor, ENBREL, EPOGEN, IMLYGIC, KYPROLIS, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, and XGEVA.

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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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