Amgen’s (AMGN) Overweight Rating Reaffirmed at Piper Sandler

Amgen (NASDAQ:AMGN)‘s stock had its “overweight” rating restated by research analysts at Piper Sandler in a research note issued on Friday,Benzinga reports. They currently have a $328.00 target price on the medical research company’s stock. Piper Sandler’s target price indicates a potential upside of 18.36% from the stock’s current price.

Several other research analysts have also recently weighed in on AMGN. Guggenheim initiated coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price objective on the stock. Royal Bank Of Canada decreased their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Johnson Rice set a $294.00 price objective on shares of Amgen in a research report on Wednesday, March 5th. Finally, Mizuho upped their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and an average target price of $307.82.

Amgen Trading Down 0.7%

NASDAQ:AMGN opened at $277.13 on Friday. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. Amgen has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a market cap of $149.02 billion, a P/E ratio of 25.29, a P/E/G ratio of 2.51 and a beta of 0.51. The stock’s fifty day moving average price is $281.02 and its two-hundred day moving average price is $286.11.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same period in the prior year, the company earned $3.96 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, analysts expect that Amgen will post 20.62 EPS for the current year.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.76% of the company’s stock.

Institutional Trading of Amgen

Large investors have recently modified their holdings of the business. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen in the first quarter worth about $25,000. First Pacific Financial grew its stake in shares of Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after purchasing an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its stake in shares of Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after purchasing an additional 85 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in shares of Amgen in the fourth quarter worth about $26,000. Finally, Activest Wealth Management boosted its position in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 103 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

About Amgen

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.