Amgen (NASDAQ:AMGN)‘s stock had its “buy” rating reissued by investment analysts at Goldman Sachs Group in a report issued on Friday, July 27th. They currently have a $228.00 price objective on the medical research company’s stock. Goldman Sachs Group’s price objective would indicate a potential upside of 17.27% from the company’s current price.
Several other research firms have also commented on AMGN. BidaskClub upgraded shares of Amgen from a “sell” rating to a “hold” rating in a research report on Friday, May 25th. Barclays lowered their price target on shares of Amgen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 5th. ValuEngine lowered shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Mizuho set a $200.00 price target on shares of Amgen and gave the company a “buy” rating in a research report on Tuesday, May 15th. Finally, Cann reissued a “buy” rating on shares of Amgen in a research note on Friday, June 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the stock. Amgen presently has an average rating of “Hold” and a consensus target price of $202.76.
Shares of Amgen stock traded up $0.45 on Friday, reaching $194.42. 1,765,530 shares of the stock were exchanged, compared to its average volume of 2,591,581. The company has a quick ratio of 3.12, a current ratio of 3.39 and a debt-to-equity ratio of 2.03. Amgen has a 1-year low of $163.31 and a 1-year high of $201.23. The firm has a market cap of $125.55 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, July 26th. The medical research company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.31. Amgen had a net margin of 10.19% and a return on equity of 43.18%. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period in the prior year, the business posted $3.27 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. equities research analysts anticipate that Amgen will post 13.95 EPS for the current year.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $184.27, for a total transaction of $281,011.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 4,575 shares of company stock valued at $844,972. 0.19% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the business. KCM Investment Advisors LLC lifted its stake in Amgen by 3.8% in the second quarter. KCM Investment Advisors LLC now owns 14,445 shares of the medical research company’s stock valued at $2,666,000 after acquiring an additional 523 shares during the last quarter. Reilly Herbert Faulkner III lifted its stake in Amgen by 0.9% in the second quarter. Reilly Herbert Faulkner III now owns 29,545 shares of the medical research company’s stock valued at $5,454,000 after acquiring an additional 268 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Amgen by 149.5% in the second quarter. Envestnet Asset Management Inc. now owns 138,821 shares of the medical research company’s stock valued at $25,624,000 after acquiring an additional 83,185 shares during the last quarter. Highstreet Asset Management Inc. lifted its stake in Amgen by 51.2% in the second quarter. Highstreet Asset Management Inc. now owns 10,518 shares of the medical research company’s stock valued at $1,942,000 after acquiring an additional 3,562 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new stake in Amgen in the second quarter valued at approximately $1,256,000. 80.13% of the stock is owned by institutional investors.
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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