Amgen (NASDAQ:AMGN – Get Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.
Other research analysts also recently issued research reports about the stock. Barclays increased their price objective on shares of Amgen from $228.00 to $233.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 9th. Morgan Stanley upped their target price on shares of Amgen from $235.00 to $238.00 and gave the company an “equal weight” rating in a report on Wednesday, February 9th. Wells Fargo & Company upped their target price on shares of Amgen from $210.00 to $250.00 and gave the company an “equal weight” rating in a report on Wednesday, February 9th. Jefferies Financial Group upped their target price on shares of Amgen from $266.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, February 9th. Finally, Bank of America cut shares of Amgen from a “buy” rating to a “neutral” rating and reduced their target price for the company from $285.00 to $255.00 in a report on Wednesday, January 5th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $235.12.
Shares of Amgen stock opened at $244.87 on Tuesday. The company has a market cap of $137.93 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 1.46 and a beta of 0.59. The company’s 50 day moving average is $230.49 and its 200 day moving average is $220.33. Amgen has a twelve month low of $198.64 and a twelve month high of $261.00. The company has a quick ratio of 1.26, a current ratio of 1.59 and a debt-to-equity ratio of 4.96.
Amgen (NASDAQ:AMGN – Get Rating) last issued its quarterly earnings data on Monday, February 7th. The medical research company reported $4.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.14 by $0.22. The company had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $6.87 billion. Amgen had a net margin of 22.68% and a return on equity of 120.59%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.81 earnings per share. Sell-side analysts expect that Amgen will post 17.57 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Amgen by 2.1% during the fourth quarter. BlackRock Inc. now owns 50,046,345 shares of the medical research company’s stock valued at $11,258,926,000 after acquiring an additional 1,032,929 shares in the last quarter. State Street Corp grew its stake in Amgen by 1.7% during the fourth quarter. State Street Corp now owns 30,147,007 shares of the medical research company’s stock valued at $6,782,172,000 after acquiring an additional 505,306 shares in the last quarter. Geode Capital Management LLC grew its stake in Amgen by 3.7% during the third quarter. Geode Capital Management LLC now owns 10,362,110 shares of the medical research company’s stock valued at $2,198,289,000 after acquiring an additional 367,936 shares in the last quarter. Morgan Stanley lifted its position in Amgen by 0.8% during the second quarter. Morgan Stanley now owns 10,040,932 shares of the medical research company’s stock valued at $2,447,476,000 after purchasing an additional 80,922 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Amgen by 6.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,725,125 shares of the medical research company’s stock valued at $1,962,892,000 after purchasing an additional 561,955 shares during the last quarter. 74.53% of the stock is owned by institutional investors.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company’s products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet’s disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.