Amgen (NASDAQ:AMGN) received a $220.00 price target from equities researchers at Jefferies Financial Group in a research note issued to investors on Wednesday, September 12th. The firm presently has a “buy” rating on the medical research company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 7.83% from the stock’s current price.
Several other research analysts have also commented on the stock. Oppenheimer set a $224.00 price target on shares of Amgen and gave the stock a “buy” rating in a research note on Monday, September 10th. Royal Bank of Canada restated a “neutral” rating and set a $193.00 price target on shares of Amgen in a research note on Monday, September 10th. Wells Fargo & Co reiterated a “neutral” rating and issued a $197.00 target price on shares of Amgen in a research note on Wednesday, August 29th. Cann reiterated a “buy” rating and issued a $224.00 target price on shares of Amgen in a research note on Monday, July 30th. Finally, Morningstar set a $198.00 target price on shares of Amgen and gave the company a “neutral” rating in a research note on Monday, July 30th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $204.77.
Shares of AMGN traded up $0.55 during mid-day trading on Wednesday, hitting $204.02. 2,480,971 shares of the company’s stock were exchanged, compared to its average volume of 3,578,064. Amgen has a twelve month low of $163.31 and a twelve month high of $210.19. The firm has a market cap of $134.17 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40. The company has a quick ratio of 3.12, a current ratio of 3.39 and a debt-to-equity ratio of 2.03.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, July 26th. The medical research company reported $3.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.52 by $0.31. Amgen had a net margin of 10.19% and a return on equity of 43.18%. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the prior year, the business posted $3.27 EPS. Amgen’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, research analysts predict that Amgen will post 13.96 earnings per share for the current fiscal year.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Monday, July 16th. The shares were sold at an average price of $195.71, for a total value of $298,457.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Rockland Trust Co. boosted its holdings in Amgen by 6.9% in the 3rd quarter. Rockland Trust Co. now owns 4,185 shares of the medical research company’s stock valued at $868,000 after purchasing an additional 271 shares during the period. Windsor Group LTD boosted its holdings in Amgen by 13.6% in the 3rd quarter. Windsor Group LTD now owns 2,383 shares of the medical research company’s stock valued at $494,000 after purchasing an additional 285 shares during the period. Chemung Canal Trust Co. lifted its holdings in shares of Amgen by 3.4% during the 3rd quarter. Chemung Canal Trust Co. now owns 11,895 shares of the medical research company’s stock worth $2,466,000 after acquiring an additional 391 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Amgen during the 3rd quarter worth about $312,000. Finally, Barometer Capital Management Inc. bought a new position in shares of Amgen during the 3rd quarter worth about $13,204,000. 82.48% of the stock is owned by hedge funds and other institutional investors.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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