Amgen (NASDAQ:AMGN) Price Target Increased to $290.00 by Analysts at Oppenheimer

Amgen (NASDAQ:AMGNGet Rating) had its target price increased by Oppenheimer from $285.00 to $290.00 in a research note issued to investors on Wednesday morning, The Fly reports.

Other equities analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Amgen from a buy rating to a strong-buy rating in a research note on Monday, May 16th. Wells Fargo & Company upped their price objective on shares of Amgen from $210.00 to $250.00 and gave the company an equal weight rating in a research note on Wednesday, February 9th. Mizuho upped their price objective on shares of Amgen from $202.00 to $208.00 in a research note on Tuesday, May 10th. Piper Sandler upped their price objective on shares of Amgen from $255.00 to $260.00 in a research note on Thursday, April 28th. Finally, Morgan Stanley decreased their target price 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. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $243.40.

Shares of AMGN stock opened at $256.74 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.09 and a debt-to-equity ratio of 39.31. The firm has a fifty day moving average price of $245.84 and a 200 day moving average price of $230.71. The company has a market cap of $137.15 billion, a P/E ratio of 25.27, a PEG ratio of 2.19 and a beta of 0.58. Amgen has a 12 month low of $198.64 and a 12 month high of $258.45.

Amgen (NASDAQ:AMGNGet Rating) last issued its earnings results on Wednesday, April 27th. The medical research company reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $4.22 by $0.03. The firm had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.09 billion. Amgen had a net margin of 21.75% and a return on equity of 165.95%. During the same quarter in the previous year, the firm posted $3.70 earnings per share. On average, equities analysts forecast that Amgen will post 17.51 EPS for the current year.

In other news, EVP Jonathan P. Graham sold 13,500 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 37,333 shares of the company’s stock, valued at approximately $9,027,492.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Sanders Williams sold 600 shares of the business’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $250.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now directly owns 5,501 shares of the company’s stock, valued at approximately $1,375,250. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pacifica Partners Inc. boosted its holdings in shares of Amgen by 7.1% in the 1st quarter. Pacifica Partners Inc. now owns 601 shares of the medical research company’s stock valued at $137,000 after buying an additional 40 shares during the period. Warren Averett Asset Management LLC boosted its holdings in shares of Amgen by 3.9% in the 1st quarter. Warren Averett Asset Management LLC now owns 1,105 shares of the medical research company’s stock valued at $267,000 after buying an additional 41 shares during the period. LVZ Inc. boosted its holdings in shares of Amgen by 3.0% in the 1st quarter. LVZ Inc. now owns 1,438 shares of the medical research company’s stock valued at $348,000 after buying an additional 42 shares during the period. Mission Creek Capital Partners Inc. boosted its holdings in shares of Amgen by 0.5% in the 1st quarter. Mission Creek Capital Partners Inc. now owns 9,328 shares of the medical research company’s stock valued at $2,256,000 after buying an additional 42 shares during the period. Finally, Gryphon Financial Partners LLC boosted its holdings in shares of Amgen by 4.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,040 shares of the medical research company’s stock valued at $234,000 after buying an additional 44 shares during the period. 79.01% of the stock is owned by institutional investors and hedge funds.

About Amgen (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.

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