Amgen (NASDAQ:AMGN) Rating Increased to Strong-Buy at StockNews.com

Amgen (NASDAQ:AMGN) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

A number of other brokerages have also weighed in on AMGN. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Redburn Partners decreased their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Citigroup dropped their target price on shares of Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. UBS Group decreased their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Barclays lifted their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $319.68.

Amgen Stock Performance

Amgen stock traded down $1.88 during midday trading on Tuesday, reaching $275.75. The stock had a trading volume of 2,790,641 shares, compared to its average volume of 2,607,342. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm has a market capitalization of $148.22 billion, a PE ratio of 35.31, a P/E/G ratio of 3.02 and a beta of 0.55. Amgen has a 12 month low of $257.80 and a 12 month high of $346.85. The firm’s 50-day moving average price is $305.69 and its 200 day moving average price is $315.66.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the company earned $4.96 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. As a group, research analysts predict that Amgen will post 19.51 earnings per share for the current fiscal year.

Institutional Trading of Amgen

Several large investors have recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new stake in Amgen in the third quarter worth $25,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen in the 2nd quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the 3rd quarter worth about $29,000. nVerses Capital LLC bought a new position in shares of Amgen in the 2nd quarter worth about $31,000. Finally, Matrix Trust Co purchased a new position in Amgen during the 3rd quarter valued at about $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

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.