Amgen (NASDAQ:AMGN) PT Lowered to $360.00

Amgen (NASDAQ:AMGN) had its price objective dropped by TD Cowen from $370.00 to $360.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. TD Cowen’s target price points to a potential upside of 35.65% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. UBS Group decreased their price objective on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Raymond James began coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. Oppenheimer reiterated an “outperform” rating and set a $350.00 price objective on shares of Amgen in a research note on Thursday, February 1st. The Goldman Sachs Group raised their target price on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $329.00 target price on shares of Amgen in a research note on Wednesday, April 3rd. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.38.

Amgen Price Performance

Shares of Amgen stock traded down $0.25 on Wednesday, hitting $265.39. The company’s stock had a trading volume of 1,303,301 shares, compared to its average volume of 2,849,867. The company has a market capitalization of $142.23 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.47 and a beta of 0.58. Amgen has a 1 year low of $211.71 and a 1 year high of $329.72. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The firm has a fifty day moving average price of $278.62 and a 200-day moving average price of $281.49.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. During the same period in the previous year, the business earned $4.09 earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amgen will post 19.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Roundview Capital LLC raised its stake in shares of Amgen by 1.3% in the 1st quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock valued at $2,027,000 after acquiring an additional 107 shares during the period. Merit Financial Group LLC increased its holdings in Amgen by 39.2% in the 1st quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock valued at $555,000 after purchasing an additional 647 shares during the last quarter. Ergoteles LLC purchased a new stake in Amgen in the first quarter valued at approximately $219,000. First Western Trust Bank purchased a new stake in Amgen in the first quarter valued at approximately $334,000. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in Amgen by 2.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock worth $5,970,000 after purchasing an additional 513 shares in the last quarter. Institutional investors and hedge funds 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.