Amgen (NASDAQ:AMGN) had its target price lifted by equities research analysts at Morgan Stanley from $210.00 to $212.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s price objective points to a potential upside of 7.40% from the stock’s current price.
AMGN has been the topic of several other research reports. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $234.00 price target on the stock in a research note on Monday, October 1st. Citigroup raised their price target on shares of Amgen from $188.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, July 30th. Robert W. Baird raised their price target on shares of Amgen from $165.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, July 30th. Mizuho restated a “buy” rating and issued a $200.00 price target on shares of Amgen in a research note on Friday, June 22nd. Finally, Goldman Sachs Group restated a “buy” rating and issued a $228.00 price target on shares of Amgen in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $204.90.
Shares of NASDAQ:AMGN opened at $197.39 on Thursday. Amgen has a 52 week low of $163.31 and a 52 week high of $210.19. The company has a market capitalization of $134.17 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 2.02 and a beta of 1.40. The company has a current ratio of 3.39, a quick ratio of 3.12 and a debt-to-equity ratio of 2.03.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, July 26th. The medical research company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.52 by $0.31. Amgen had a net margin of 10.19% and a return on equity of 43.18%. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter last year, the business earned $3.27 earnings per share. Amgen’s revenue was up 4.3% compared to the same quarter last year. Sell-side analysts predict that Amgen will post 13.96 EPS for the current year.
In related news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $195.71, for a total transaction of $298,457.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.27% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Community Bank & Trust Waco Texas boosted its holdings in Amgen by 7.5% during the third quarter. Community Bank & Trust Waco Texas now owns 5,130 shares of the medical research company’s stock worth $1,063,000 after buying an additional 360 shares in the last quarter. Canton Hathaway LLC bought a new stake in Amgen during the third quarter worth approximately $1,818,000. Berkshire Asset Management LLC PA boosted its holdings in Amgen by 4.4% during the third quarter. Berkshire Asset Management LLC PA now owns 128,920 shares of the medical research company’s stock worth $26,724,000 after buying an additional 5,490 shares in the last quarter. Lau Associates LLC bought a new stake in Amgen during the third quarter worth approximately $406,000. Finally, Bank of Montreal Can boosted its holdings in Amgen by 13.4% during the third quarter. Bank of Montreal Can now owns 2,328,857 shares of the medical research company’s stock worth $482,749,000 after buying an additional 275,469 shares in the last quarter. Hedge funds and other institutional investors own 82.48% 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, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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