Amgen (NASDAQ:AMGN) had its target price hoisted by Argus to $265.00 in a report issued on Monday, The Fly reports. The firm currently has a “buy” rating on the medical research company’s stock. Argus’ price objective indicates a potential upside of 13.36% from the company’s previous close.
Several other equities research analysts have also weighed in on the company. Evercore ISI reissued a “hold” rating on shares of Amgen in a research report on Sunday, August 11th. SunTrust Banks initiated coverage on Amgen in a research note on Tuesday, November 12th. They set a “buy” rating and a $256.00 target price for the company. Leerink Swann upped their price target on Amgen from $189.00 to $205.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Credit Suisse Group reiterated an “outperform” rating and issued a $225.00 price target (up from $202.00) on shares of Amgen in a research note on Friday, August 16th. Finally, Piper Jaffray Companies raised their price objective on shares of Amgen from $210.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $225.44.
NASDAQ:AMGN opened at $233.77 on Monday. The firm has a market capitalization of $138.90 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 2.21 and a beta of 1.12. The business’s fifty day moving average price is $219.56 and its 200 day moving average price is $196.06. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.89 and a quick ratio of 2.59. Amgen has a 12 month low of $166.30 and a 12 month high of $235.80.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.53 by $0.13. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.63 billion. Amgen had a return on equity of 80.26% and a net margin of 34.48%. Amgen’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.69 EPS. As a group, equities analysts anticipate that Amgen will post 14.65 EPS for the current year.
In related news, CFO David W. Meline sold 8,737 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $234.36, for a total value of $2,047,603.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jonathan P. Graham sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $230.54, for a total value of $2,074,860.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,162 shares of company stock worth $4,601,190. Corporate insiders own 0.25% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AMGN. Resources Management Corp CT ADV purchased a new stake in Amgen in the third quarter valued at approximately $1,388,000. Princeton Global Asset Management LLC increased its holdings in shares of Amgen by 22.2% during the 3rd quarter. Princeton Global Asset Management LLC now owns 3,798 shares of the medical research company’s stock worth $734,000 after buying an additional 690 shares during the last quarter. Maverick Capital Ltd. purchased a new position in shares of Amgen in the 3rd quarter worth $941,000. Man Group plc raised its position in shares of Amgen by 27.5% in the 3rd quarter. Man Group plc now owns 1,081,990 shares of the medical research company’s stock worth $209,376,000 after buying an additional 233,160 shares during the period. Finally, Signet Financial Management LLC raised its position in shares of Amgen by 1.5% in the 3rd quarter. Signet Financial Management LLC now owns 7,685 shares of the medical research company’s stock worth $1,696,000 after buying an additional 113 shares during the period. Hedge funds and other institutional investors own 76.66% of the company’s stock.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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