Amgen’s (AMGN) “Overweight” Rating Reaffirmed at Morgan Stanley

Amgen Inc. (NASDAQ:AMGN)‘s stock had its “overweight” rating reiterated by research analysts at Morgan Stanley in a research report issued to clients and investors on Friday, October 6th. They presently have a $196.00 price objective on the medical research company’s stock, up from their prior price objective of $189.00. Morgan Stanley’s price objective indicates a potential upside of 5.27% 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 Friday, 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.

A number of large investors have recently made changes to their positions in the stock. 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. Financial Advisory Service Inc. raised its holdings in Amgen by 0.3% during the second quarter. Financial Advisory Service Inc. now owns 1,974 shares of the medical research company’s stock worth $340,000 after purchasing an additional 5 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Amgen by 0.6% during the second quarter. Capital Advisors Ltd. LLC now owns 1,103 shares of the medical research company’s stock worth $190,000 after purchasing an additional 7 shares in the last quarter. Ballentine Partners LLC raised its holdings in Amgen by 0.3% during the second quarter. Ballentine Partners LLC now owns 3,441 shares of the medical research company’s stock worth $620,000 after purchasing an additional 9 shares in the last quarter. Finally, Hudock Capital Group LLC raised its holdings in Amgen by 0.5% during the second quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock worth $330,000 after purchasing an additional 10 shares in the last quarter. 78.08% of the stock is currently owned by hedge funds and other institutional investors.

About Amgen

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).

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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