Amgen Inc. (NASDAQ:AMGN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Amgen Inc. (NASDAQ:AMGN) have been given a consensus rating of “Moderate Buy” by the twenty-one ratings firms that are currently covering the company, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $305.85.

AMGN has been the subject of a number of recent research reports. Raymond James assumed coverage on Amgen in a research report on Thursday, March 28th. They set a “market perform” rating for the company. UBS Group increased their price target on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. TD Cowen cut their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Finally, Morgan Stanley boosted their price target on shares of Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amgen

A number of large investors have recently added to or reduced their stakes in AMGN. Old Port Advisors lifted its stake in shares of Amgen by 4.3% in the first quarter. Old Port Advisors now owns 1,162 shares of the medical research company’s stock worth $330,000 after buying an additional 48 shares during the last quarter. HM Payson & Co. boosted its holdings in Amgen by 22.0% during the first quarter. HM Payson & Co. now owns 172,511 shares of the medical research company’s stock valued at $49,048,000 after acquiring an additional 31,081 shares during the period. NBW Capital LLC grew its position in shares of Amgen by 24.8% in the first quarter. NBW Capital LLC now owns 1,066 shares of the medical research company’s stock valued at $303,000 after purchasing an additional 212 shares during the last quarter. Keynote Financial Services LLC bought a new position in shares of Amgen in the first quarter worth about $1,384,000. Finally, IMS Capital Management lifted its position in shares of Amgen by 10.8% during the 1st quarter. IMS Capital Management now owns 5,934 shares of the medical research company’s stock worth $1,687,000 after purchasing an additional 576 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 2.0 %

Shares of Amgen stock opened at $312.82 on Thursday. The business has a fifty day simple moving average of $298.70 and a 200-day simple moving average of $291.52. Amgen has a fifty-two week low of $218.44 and a fifty-two week high of $329.72. The firm has a market cap of $167.81 billion, a price-to-earnings ratio of 44.69, a price-to-earnings-growth ratio of 2.88 and a beta of 0.60. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same period in the previous year, the business earned $3.98 earnings per share. Amgen’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, equities analysts forecast that Amgen will post 19.47 EPS for the current fiscal year.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.