Amgen (AMGN) Given a $200.00 Price Target at Mizuho

Amgen (NASDAQ:AMGN) received a $200.00 target price from investment analysts at Mizuho in a report issued on Tuesday. The brokerage presently has a “buy” rating on the medical research company’s stock. Mizuho’s price objective suggests a potential upside of 14.40% from the company’s previous close.

Several other research firms also recently commented on AMGN. Argus raised Amgen from a “hold” rating to a “buy” rating and increased their price objective for the company from $192.33 to $220.00 in a report on Tuesday, January 23rd. JPMorgan Chase increased their price objective on Amgen from $184.00 to $189.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Royal Bank of Canada reissued a “hold” rating and issued a $189.00 price objective on shares of Amgen in a report on Wednesday, January 24th. Vetr downgraded Amgen from a “hold” rating to a “sell” rating and set a $181.60 price objective for the company. in a report on Tuesday, March 6th. Finally, Piper Jaffray cut their price objective on Amgen from $194.00 to $190.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $190.48.

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NASDAQ AMGN opened at $174.83 on Tuesday. The company has a market capitalization of $116,720.13, a PE ratio of 13.90, a P/E/G ratio of 2.14 and a beta of 1.36. The company has a debt-to-equity ratio of 1.35, a current ratio of 5.49 and a quick ratio of 5.17. Amgen has a 12 month low of $152.16 and a 12 month high of $201.23.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, April 24th. The medical research company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.24 by $0.23. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.44 billion. Amgen had a return on equity of 30.87% and a net margin of 8.66%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.15 EPS. sell-side analysts forecast that Amgen will post 13.28 earnings per share for the current year.

Amgen declared that its board has authorized a stock repurchase program on Thursday, February 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Friday, March 16th. The stock was sold at an average price of $189.75, for a total transaction of $289,368.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 4,575 shares of company stock worth $818,330 in the last quarter. Company insiders own 0.27% of the company’s stock.

A number of hedge funds have recently bought and sold shares of AMGN. Lingohr & Partner Asset Management GmbH increased its position in Amgen by 71.4% during the 2nd quarter. Lingohr & Partner Asset Management GmbH now owns 8,165 shares of the medical research company’s stock worth $1,340,000 after buying an additional 3,400 shares during the period. Thrivent Financial For Lutherans increased its position in Amgen by 107.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 118,342 shares of the medical research company’s stock worth $20,382,000 after buying an additional 61,212 shares during the period. Verity Asset Management Inc. increased its position in Amgen by 363.8% during the 2nd quarter. Verity Asset Management Inc. now owns 8,989 shares of the medical research company’s stock worth $1,548,000 after buying an additional 7,051 shares during the period. Investec Asset Management LTD increased its position in Amgen by 1,081.7% during the 2nd quarter. Investec Asset Management LTD now owns 21,967 shares of the medical research company’s stock worth $3,783,000 after buying an additional 20,108 shares during the period. Finally, Fort L.P. bought a new position in Amgen during the 2nd quarter worth $4,294,000. Hedge funds and other institutional investors own 85.76% of the company’s stock.

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About Amgen

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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