Amgen (NASDAQ:AMGN) had its target price lowered by analysts at Piper Jaffray Companies from $194.00 to $190.00 in a report released on Friday. The brokerage currently has an “overweight” rating on the medical research company’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 1.60% from the stock’s previous close.
A number of other equities analysts also recently commented on AMGN. Mizuho reissued a “buy” rating and set a $192.00 price objective on shares of Amgen in a research report on Thursday. BidaskClub raised Amgen from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. boosted their price objective on Amgen from $184.00 to $189.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Oppenheimer set a $205.00 price objective on Amgen and gave the stock a “buy” rating in a research report on Friday, January 5th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $189.00 price objective on shares of Amgen in a research report on Wednesday, January 24th. Fifteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Amgen presently has a consensus rating of “Hold” and an average target price of $191.60.
Amgen (NASDAQ:AMGN) traded up $1.45 during midday trading on Friday, reaching $187.01. The company’s stock had a trading volume of 7,029,903 shares, compared to its average volume of 2,880,000. Amgen has a 52 week low of $152.16 and a 52 week high of $201.23. The firm has a market cap of $135,750.00, a P/E ratio of 16.89, a P/E/G ratio of 2.74 and a beta of 1.42. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07.
Amgen declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total value of $283,070.50. The disclosure for this sale can be found here. Insiders sold 8,575 shares of company stock valued at $1,508,836 over the last ninety days. 0.19% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Baker Ellis Asset Management LLC purchased a new stake in Amgen in the third quarter valued at approximately $108,000. Jackson Grant Investment Advisers Inc. lifted its stake in Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares during the last quarter. Phocas Financial Corp. purchased a new stake in Amgen in the second quarter valued at approximately $110,000. Omnia Family Wealth LLC raised its stake in shares of Amgen by 25.3% during the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after purchasing an additional 147 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Amgen by 87.4% during the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after purchasing an additional 341 shares during 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).
