Amgen Inc. (NASDAQ:AMGN) Receives Consensus Rating of “Hold” from Brokerages

Amgen Inc. (NASDAQ:AMGN) has been given an average rating of “Hold” by the twenty-four brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $309.22.

Several equities research analysts have recently commented on AMGN shares. Cantor Fitzgerald started coverage on Amgen in a report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price objective for the company. Bank of America upped their price target on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Johnson Rice set a $294.00 price target on Amgen in a report on Wednesday, March 5th. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th.

Amgen Price Performance

Shares of AMGN opened at $287.01 on Thursday. The firm has a market cap of $154.33 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen has a 52-week low of $253.30 and a 52-week high of $346.85. The business’s 50 day moving average price is $282.39 and its two-hundred day moving average price is $285.31. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.96 earnings per share. On average, equities analysts anticipate that Amgen will post 20.62 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC grew its stake in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after acquiring an additional 85 shares during the period. Integrity Wealth Advisors Inc. grew its stake in shares of Amgen by 4.0% during the 1st quarter. Integrity Wealth Advisors Inc. now owns 3,901 shares of the medical research company’s stock worth $1,215,000 after acquiring an additional 151 shares during the period. Modern Wealth Management LLC grew its stake in shares of Amgen by 40.8% during the 1st quarter. Modern Wealth Management LLC now owns 3,417 shares of the medical research company’s stock worth $1,065,000 after acquiring an additional 990 shares during the period. Nova Wealth Management Inc. grew its stake in shares of Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock worth $38,000 after acquiring an additional 122 shares during the period. Finally, Strs Ohio bought a new position in shares of Amgen during the 1st quarter worth $47,136,000. Institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.