Goldman Sachs Group Reaffirms “Buy” Rating for Amgen (AMGN)

Amgen (NASDAQ:AMGN)‘s stock had its “buy” rating reiterated by investment analysts at Goldman Sachs Group in a research report issued to clients and investors on Friday. They presently have a $229.00 target price on the medical research company’s stock. Goldman Sachs Group’s price target indicates a potential upside of 16.01% from the stock’s previous close.

Several other brokerages have also recently commented on AMGN. Cann reiterated a “buy” rating and set a $224.00 target price on shares of Amgen in a research report on Monday, July 30th. Oppenheimer reiterated a “buy” rating and set a $224.00 target price on shares of Amgen in a research report on Tuesday, August 28th. Mizuho reiterated a “buy” rating and set a $200.00 target price on shares of Amgen in a research report on Friday, July 27th. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $234.00 target price for the company in a research report on Monday, October 1st. Finally, Royal Bank of Canada set a $193.00 target price on shares of Amgen and gave the company a “buy” rating in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $204.90.

Shares of Amgen stock traded up $3.54 on Friday, hitting $197.39. 2,784,524 shares of the company’s stock traded hands, compared to its average volume of 3,571,043. The stock has a market capitalization of $134.17 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 2.02 and a beta of 1.40. Amgen has a one year low of $163.31 and a one year high of $210.19. The company has a debt-to-equity ratio of 2.03, a quick ratio of 3.12 and a current ratio of 3.39.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, July 26th. The medical research company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.52 by $0.31. The company had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Amgen had a net margin of 10.19% and a return on equity of 43.18%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.27 EPS. As a group, research analysts forecast that Amgen will post 13.96 EPS for the current fiscal year.

In related news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $195.71, for a total value of $298,457.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pillar Pacific Capital Management LLC boosted its stake in Amgen by 0.5% in the 2nd quarter. Pillar Pacific Capital Management LLC now owns 56,671 shares of the medical research company’s stock worth $10,461,000 after purchasing an additional 254 shares during the period. Murphy Capital Management Inc. boosted its stake in shares of Amgen by 2.3% during the 3rd quarter. Murphy Capital Management Inc. now owns 11,285 shares of the medical research company’s stock worth $2,339,000 after buying an additional 254 shares during the last quarter. Fairfield Bush & CO. boosted its stake in shares of Amgen by 0.8% during the 2nd quarter. Fairfield Bush & CO. now owns 33,934 shares of the medical research company’s stock worth $6,264,000 after buying an additional 260 shares during the last quarter. Advisors Capital Management LLC boosted its stake in shares of Amgen by 5.8% during the 2nd quarter. Advisors Capital Management LLC now owns 4,737 shares of the medical research company’s stock worth $874,000 after buying an additional 261 shares during the last quarter. Finally, Highland Capital Management LLC boosted its stake in shares of Amgen by 1.0% during the 2nd quarter. Highland Capital Management LLC now owns 27,457 shares of the medical research company’s stock worth $5,068,000 after buying an additional 262 shares during the last quarter. Institutional investors and hedge funds own 82.48% of the company’s stock.

Amgen Company Profile

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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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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