Amgen (NASDAQ:AMGN – Get Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
A number of other brokerages have also commented on AMGN. The Goldman Sachs Group raised their price target on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. Truist Financial restated a “buy” rating and set a $320.00 price objective on shares of Amgen in a research note on Wednesday, November 29th. UBS Group dropped their target price on Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Finally, Oppenheimer restated an “outperform” rating and issued a $350.00 target price on shares of Amgen in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Hold” and an average price target of $295.30.
Amgen Stock Up 0.4 %
Shares of Amgen stock traded up $1.06 on Tuesday, hitting $271.96. The company had a trading volume of 1,299,081 shares, compared to its average volume of 3,063,713. The stock has a 50-day moving average of $293.86 and a 200-day moving average of $279.74. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The firm has a market capitalization of $145.75 billion, a P/E ratio of 21.69, a P/E/G ratio of 2.52 and a beta of 0.58. Amgen has a twelve month low of $211.71 and a twelve month high of $329.72.
Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.09 earnings per share. Research analysts predict that Amgen will post 19.48 earnings per share for the current year.
Institutional Investors Weigh In On Amgen
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BIP Wealth LLC increased its holdings in shares of Amgen by 2.6% in the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after purchasing an additional 32 shares during the period. Southland Equity Partners LLC increased its holdings in shares of Amgen by 2.3% in the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after purchasing an additional 34 shares during the period. Acropolis Investment Management LLC increased its holdings in shares of Amgen by 3.5% in the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 34 shares during the period. Opal Wealth Advisors LLC increased its holdings in shares of Amgen by 1.9% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after purchasing an additional 34 shares during the period. Finally, Marino Stram & Associates LLC grew its holdings in Amgen by 0.7% during the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after acquiring an additional 34 shares during the period. 74.44% of the stock is currently owned by institutional investors and hedge funds.
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.