SVB Leerink Begins Coverage on Amgen (NASDAQ:AMGN)

Research analysts at SVB Leerink began coverage on shares of Amgen (NASDAQ:AMGNGet Rating) in a report released on Monday, The Fly reports. The brokerage set a “market perform” rating and a $256.00 price target on the medical research company’s stock. SVB Leerink’s price target points to a potential upside of 3.43% from the company’s previous close.

A number of other equities research analysts also recently weighed in on AMGN. Jefferies Financial Group lifted their target price on Amgen from $266.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, February 9th. Piper Sandler lifted their target price on Amgen from $255.00 to $260.00 in a research report on Thursday, April 28th. Barclays raised their price target on shares of Amgen from $233.00 to $236.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 12th. Morgan Stanley cut their price target on shares of Amgen from $238.00 to $237.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 12th. Finally, BMO Capital Markets cut their price target on shares of Amgen from $263.00 to $243.00 in a research note on Thursday, April 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and an average price target of $243.07.

Amgen stock opened at $247.50 on Monday. The company has a market capitalization of $132.21 billion, a P/E ratio of 24.36, a P/E/G ratio of 1.71 and a beta of 0.58. The firm’s fifty day simple moving average is $243.24 and its 200-day simple moving average is $228.81. The company has a current ratio of 1.44, a quick ratio of 1.09 and a debt-to-equity ratio of 39.31. Amgen has a 1-year low of $198.64 and a 1-year high of $258.45.

Amgen (NASDAQ:AMGNGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The medical research company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.22 by $0.03. Amgen had a net margin of 21.75% and a return on equity of 165.95%. The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter last year, the firm earned $3.70 EPS. On average, equities research analysts predict that Amgen will post 17.48 earnings per share for the current year.

In other news, EVP Jonathan P. Graham sold 13,500 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $241.81, for a total value of $3,264,435.00. Following the completion of the transaction, the executive vice president now owns 37,333 shares of the company’s stock, valued at approximately $9,027,492.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Amgen by 2.1% in the 4th quarter. BlackRock Inc. now owns 50,046,345 shares of the medical research company’s stock valued at $11,258,926,000 after purchasing an additional 1,032,929 shares during the period. Vanguard Group Inc. raised its holdings in shares of Amgen by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 47,329,045 shares of the medical research company’s stock valued at $11,445,110,000 after purchasing an additional 668,036 shares during the period. State Street Corp raised its holdings in shares of Amgen by 1.2% in the 1st quarter. State Street Corp now owns 30,504,420 shares of the medical research company’s stock valued at $7,376,579,000 after purchasing an additional 357,413 shares during the period. Geode Capital Management LLC raised its holdings in shares of Amgen by 3.7% in the 3rd 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 purchasing an additional 367,936 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Amgen by 0.8% in the 2nd 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 period. 79.01% of the stock is currently owned by institutional investors.

Amgen Company Profile (Get Rating)

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.

See Also

The Fly logo

Analyst Recommendations for Amgen (NASDAQ:AMGN)

Want More Great Investing Ideas?

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.