Amgen (NASDAQ:AMGN) Cut to Hold at StockNews.com

Amgen (NASDAQ:AMGN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Other analysts have also issued research reports about the company. Daiwa Capital Markets raised Amgen from a “neutral” rating to a “buy” rating and raised their target price for the company from $264.00 to $320.00 in a report on Thursday, December 21st. Raymond James assumed coverage on Amgen in a research report on Thursday. They set a “market perform” rating on the stock. The Goldman Sachs Group raised their target price on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Truist Financial restated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a research note on Wednesday, November 29th. Finally, UBS Group cut their price target on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $295.30.

Amgen Stock Down 0.7 %

Shares of AMGN traded down $1.98 during midday trading on Thursday, reaching $284.32. 2,288,855 shares of the stock were exchanged, compared to its average volume of 3,040,904. The firm has a 50 day simple moving average of $290.09 and a 200-day simple moving average of $280.70. Amgen has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a market cap of $152.37 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 2.66 and a beta of 0.58. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. During the same period last year, the business earned $4.09 EPS. The firm’s revenue was up 19.8% compared to the same quarter last year. Research analysts forecast that Amgen will post 19.49 EPS for the current year.

Institutional Investors Weigh In On Amgen

Large investors have recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Amgen in the 3rd quarter valued at approximately $26,000. Briaud Financial Planning Inc acquired a new stake in Amgen during the 3rd quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL bought a new position in Amgen in the first quarter valued at approximately $28,000. VisionPoint Advisory Group LLC acquired a new position in shares of Amgen in the second quarter valued at approximately $28,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in shares of Amgen during the fourth quarter worth $29,000. Institutional investors own 76.50% of the company’s stock.

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.