Amgen (NASDAQ:AMGN) had its target price hoisted by stock analysts at BMO Capital Markets from $192.00 to $202.00 in a research note issued on Friday. The brokerage currently has a “market perform” rating on the medical research company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 8.02% from the stock’s current price.
Several other research analysts have also recently issued reports on AMGN. Morgan Stanley dropped their target price on shares of Amgen from $204.00 to $196.00 and set an “overweight” rating on the stock in a report on Friday. Piper Jaffray Companies dropped their target price on shares of Amgen from $194.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday. Mizuho reiterated a “buy” rating and set a $192.00 target price on shares of Amgen in a report on Thursday. Oppenheimer reiterated a “buy” rating and set a $205.00 target price on shares of Amgen in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Amgen from $184.00 to $189.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Fifteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $191.60.
Amgen (AMGN) traded up $1.45 during midday trading on Friday, hitting $187.01. 7,029,903 shares of the stock were exchanged, compared to its average volume of 2,880,000. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $135,750.00, a PE ratio of 16.89, a PEG ratio of 2.74 and a beta of 1.42. Amgen has a 12-month low of $152.16 and a 12-month high of $201.23.
Amgen announced that its board has approved a stock buyback plan on Wednesday, October 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total transaction of $283,070.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,575 shares of company stock valued at $1,508,836. Insiders own 0.19% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in AMGN. Baker Ellis Asset Management LLC purchased a new position in shares of Amgen in the 3rd quarter valued at approximately $108,000. Jackson Grant Investment Advisers Inc. raised its position in shares of Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after purchasing an additional 5 shares during the last quarter. Phocas Financial Corp. purchased a new position in shares of Amgen in the 2nd quarter valued at approximately $110,000. Omnia Family Wealth LLC raised its position in shares of Amgen by 25.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after purchasing an additional 147 shares during the last quarter. Finally, Grove Bank & Trust raised its position in shares of Amgen by 87.4% in the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after purchasing an additional 341 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.
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).
