William Blair Reaffirms Outperform Rating for Amgen (NASDAQ:AMGN)

Amgen (NASDAQ:AMGNGet Free Report)‘s stock had its “outperform” rating reaffirmed by William Blair in a research report issued to clients and investors on Tuesday,RTT News reports.

Several other brokerages have also commented on AMGN. Johnson Rice set a $294.00 price objective on Amgen in a report on Wednesday, March 5th. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada dropped their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus price target of $309.22.

View Our Latest Report on Amgen

Amgen Stock Up 1.0%

Shares of AMGN opened at $280.35 on Tuesday. The business has a fifty day moving average of $280.99 and a 200 day moving average of $286.00. The company has a market cap of $150.75 billion, a PE ratio of 25.58, a P/E/G ratio of 2.51 and a beta of 0.51. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. Amgen has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGNGet Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. Amgen’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.96 EPS. On average, sell-side analysts expect that Amgen will post 20.62 EPS for the current year.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amgen

Hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new position in Amgen in the 1st quarter valued at $25,000. Pinney & Scofield Inc. purchased a new stake in shares of Amgen in the fourth quarter valued at $26,000. First Pacific Financial grew its position 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 valued at $28,000 after purchasing an additional 67 shares during the period. CBIZ Investment Advisory Services LLC increased its stake in 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 valued at $29,000 after purchasing an additional 85 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE lifted its position in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

About Amgen

(Get Free Report)

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.

Read More

Analyst Recommendations for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.