Amgen (NASDAQ:AMGN) Downgraded by SVB Leerink to “Market Perform”

Amgen (NASDAQ:AMGNGet Free Report) was downgraded by stock analysts at SVB Leerink from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, FinViz reports. They currently have a $318.00 price target on the medical research company’s stock, down from their previous price target of $324.00. SVB Leerink’s price objective points to a potential upside of 0.61% from the company’s previous close.

Several other research analysts have also commented on the company. Bank of America started coverage on Amgen in a research report on Wednesday, October 11th. They issued a “neutral” rating and a $290.00 price target for the company. Deutsche Bank Aktiengesellschaft started coverage on Amgen in a research report on Thursday, November 9th. They issued a “hold” rating and a $240.00 price target for the company. UBS Group dropped their price target on Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a research report on Monday, January 29th. Leerink Partnrs raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 11th. Finally, Morgan Stanley decreased their price objective on shares of Amgen from $300.00 to $291.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $291.58.

View Our Latest Research Report on Amgen

Amgen Price Performance

NASDAQ:AMGN opened at $316.07 on Wednesday. The company has a quick ratio of 2.56, a current ratio of 2.86 and a debt-to-equity ratio of 7.71. The business’s 50-day simple moving average is $293.83 and its two-hundred day simple moving average is $273.50. The stock has a market cap of $169.15 billion, a PE ratio of 22.46, a P/E/G ratio of 2.88 and a beta of 0.62. Amgen has a 52 week low of $211.71 and a 52 week high of $329.72.

Amgen (NASDAQ:AMGNGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.01. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a return on equity of 165.37% and a net margin of 28.20%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.09 earnings per share. As a group, analysts forecast that Amgen will post 18.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,096 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $273.03, for a total transaction of $572,270.88. Following the sale, the senior vice president now directly owns 10,874 shares in the company, valued at approximately $2,968,928.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AMGN. Moneta Group Investment Advisors LLC lifted its stake in Amgen by 83,875.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock valued at $1,980,571,000 after buying an additional 7,532,031 shares in the last quarter. Norges Bank purchased a new position in Amgen in the 4th quarter worth approximately $1,351,778,000. Price T Rowe Associates Inc. MD lifted its stake in Amgen by 158.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company’s stock worth $774,791,000 after purchasing an additional 1,806,456 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Amgen in the 4th quarter worth approximately $4,589,900,000. Finally, Morgan Stanley lifted its stake in Amgen by 12.9% in the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after purchasing an additional 1,523,665 shares in the last quarter. 74.44% of the stock is owned by hedge funds and other institutional investors.

Amgen Company Profile

(Get Free Report)

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 Beh├žet'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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