Amgen Inc. (NASDAQ:AMGN) had its price objective upped by research analysts at Bank of America Corporation to $210.00 in a research report issued to clients and investors on Thursday, October 5th. The brokerage presently has a “buy” rating on the medical research company’s stock. Bank of America Corporation’s price objective indicates a potential upside of 12.79% from the stock’s current price.
Several other analysts also recently issued reports on AMGN. UBS AG reiterated a “neutral” rating and issued a $175.00 price target (up from $174.00) on shares of Amgen in a report on Tuesday, June 13th. Jefferies Group LLC restated a “buy” rating and set a $195.00 target price on shares of Amgen in a research note on Tuesday, July 11th. BMO Capital Markets restated a “hold” rating and set a $199.00 target price on shares of Amgen in a research note on Monday, September 25th. Credit Suisse Group restated a “neutral” rating and set a $186.00 target price (up from $177.00) on shares of Amgen in a research note on Friday, September 29th. Finally, Leerink Swann restated a “market perform” rating and set a $161.00 target price on shares of Amgen in a research note on Thursday, June 22nd. Twelve investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $189.99.
Amgen (AMGN) traded up 0.18% during trading on Thursday, hitting $186.53. The stock had a trading volume of 1,253,613 shares. Amgen has a one year low of $133.64 and a one year high of $191.10. The company has a market cap of $136.11 billion, a P/E ratio of 16.99 and a beta of 1.36. The firm has a 50 day moving average of $183.93 and a 200-day moving average of $170.98.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The firm had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same period in the prior year, the firm earned $2.84 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Amgen will post $12.58 earnings per share for the current fiscal year.
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In other news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $185.95, for a total transaction of $283,573.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC raised its holdings in Amgen by 88.9% during the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after purchasing an additional 288 shares in the last quarter. Alpha Omega Wealth Management LLC raised its holdings in Amgen by 19.0% during the first quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock worth $103,000 after purchasing an additional 100 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its holdings in Amgen by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock worth $104,000 after purchasing an additional 4 shares in the last quarter. American Beacon Advisors Inc. bought a new stake in Amgen during the first quarter worth approximately $106,000. Finally, Phocas Financial Corp. bought a new stake in Amgen during the second quarter worth approximately $110,000. 78.08% of the stock is currently owned by institutional investors.
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).
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