BidaskClub Downgrades Amgen (NASDAQ:AMGN) to Sell

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Amgen (NASDAQ:AMGN) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday, BidAskClub reports.

Several other equities research analysts also recently weighed in on AMGN. Oppenheimer set a $210.00 target price on shares of Amgen and gave the stock a “buy” rating in a research note on Friday, May 24th. Royal Bank of Canada restated a “neutral” rating and issued a $192.00 price objective on shares of Amgen in a research report on Tuesday, May 21st. JPMorgan Chase & Co. restated a “neutral” rating on shares of Anglo American in a research report on Wednesday, May 15th. Zacks Investment Research upgraded shares of GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Finally, Mizuho set a $21.00 price objective on shares of Neon Therapeutics and gave the company a “buy” rating in a research report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. Amgen presently has a consensus rating of “Hold” and a consensus target price of $208.35.

Shares of AMGN opened at $174.93 on Friday. Amgen has a fifty-two week low of $166.30 and a fifty-two week high of $210.19. The firm has a market capitalization of $106.70 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. The business’s 50-day simple moving average is $178.65. The company has a quick ratio of 2.53, a current ratio of 2.77 and a debt-to-equity ratio of 2.71.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, April 30th. The medical research company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.11. Amgen had a net margin of 34.00% and a return on equity of 71.02%. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the prior year, the firm earned $3.47 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts forecast that Amgen will post 13.92 earnings per share for the current fiscal year.

In other news, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $175.68, for a total transaction of $351,360.00. Following the completion of the sale, the director now directly owns 16,219 shares in the company, valued at approximately $2,849,353.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 6,000 shares of company stock valued at $1,077,980. Insiders own 0.25% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. UNIVEST FINANCIAL Corp lifted its position in shares of Amgen by 1.9% during the 2nd quarter. UNIVEST FINANCIAL Corp now owns 24,366 shares of the medical research company’s stock valued at $4,490,000 after acquiring an additional 453 shares during the period. West Oak Capital LLC lifted its position in shares of Amgen by 7.7% during the 2nd quarter. West Oak Capital LLC now owns 10,817 shares of the medical research company’s stock valued at $1,993,000 after acquiring an additional 770 shares during the period. Altman Advisors Inc. lifted its position in shares of Amgen by 1.9% during the 2nd quarter. Altman Advisors Inc. now owns 12,709 shares of the medical research company’s stock valued at $2,342,000 after acquiring an additional 234 shares during the period. Lincoln Capital Corp lifted its position in shares of Amgen by 0.3% during the 2nd quarter. Lincoln Capital Corp now owns 21,483 shares of the medical research company’s stock valued at $3,959,000 after acquiring an additional 58 shares during the period. Finally, Clark Capital Management Group Inc. lifted its position in shares of Amgen by 6.8% during the 2nd quarter. Clark Capital Management Group Inc. now owns 106,090 shares of the medical research company’s stock valued at $19,550,000 after acquiring an additional 6,764 shares during the period. Institutional investors own 77.24% of the company’s stock.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

Further Reading: Liquidity

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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