Amgen (NASDAQ:AMGN) had its target price hoisted by Credit Suisse Group from $191.00 to $194.00 in a research note issued to investors on Friday. The brokerage currently has a “neutral” rating on the medical research company’s stock. Credit Suisse Group’s price target suggests a potential upside of 3.74% from the stock’s previous close.
Other equities analysts have also issued reports about the company. Cann reiterated a “buy” rating and issued a $203.00 price objective on shares of Amgen in a research note on Friday, October 6th. Bank of America lifted their price objective on Amgen to $210.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Oppenheimer reiterated a “buy” rating and issued a $203.00 price objective on shares of Amgen in a research note on Friday, October 6th. Mizuho reiterated a “buy” rating and issued a $198.00 price objective on shares of Amgen in a research note on Friday, October 6th. Finally, Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a research note on Friday, October 27th. Fifteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $191.60.
Shares of Amgen (AMGN) traded up $1.45 during trading hours on Friday, hitting $187.01. The company’s stock had a trading volume of 7,030,000 shares, compared to its average volume of 2,880,000. Amgen has a 12 month low of $152.16 and a 12 month high of $201.23. The firm has a market capitalization of $135,750.00, a PE ratio of 16.89, a P/E/G ratio of 2.74 and a beta of 1.42. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05.
Amgen declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $171.58, for a total value of $261,659.50. Following the completion of the sale, the executive vice president now owns 57,631 shares in the company, valued at $9,888,326.98. The disclosure for this sale can be found here. Insiders have sold 8,575 shares of company stock worth $1,508,836 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings in shares of Amgen by 3,664.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock worth $637,139,000 after acquiring an additional 3,601,087 shares in the last quarter. FMR LLC boosted its holdings in shares of Amgen by 4.8% in the 2nd quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock worth $9,817,037,000 after acquiring an additional 2,587,041 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Amgen by 40.9% in the 2nd quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock worth $585,607,000 after acquiring an additional 986,700 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Amgen by 1.9% in the 2nd quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock worth $8,516,980,000 after acquiring an additional 909,689 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Amgen by 12.9% in the 2nd quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock worth $1,212,602,000 after acquiring an additional 806,119 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.
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About Amgen
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).
