Amgen (NASDAQ:AMGN – Get Free Report) had its price objective lifted by investment analysts at The Goldman Sachs Group from $313.00 to $350.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 18.70% from the company’s current price.
A number of other brokerages have also commented on AMGN. UBS Group decreased their price target on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. Daiwa Capital Markets upgraded shares of Amgen from a “neutral” rating to a “buy” rating and upped their price target for the company from $264.00 to $320.00 in a research note on Thursday, December 21st. Oppenheimer restated an “outperform” rating and set a $350.00 target price on shares of Amgen in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Amgen in a research report on Thursday, November 9th. They set a “hold” rating and a $240.00 target price on the stock. Finally, Jefferies Financial Group restated a “buy” rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $295.30.
Amgen Stock Down 0.3 %
Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 152.15%. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the prior year, the business earned $4.09 EPS. Amgen’s quarterly revenue was up 19.8% on a year-over-year basis. On average, analysts forecast that Amgen will post 19.81 earnings per share for the current year.
Insider Activity at Amgen
In related news, SVP Nancy A. Grygiel sold 2,096 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $273.03, for a total value of $572,270.88. Following the completion of the transaction, the senior vice president now owns 10,874 shares of the company’s stock, valued at approximately $2,968,928.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by insiders.
Hedge Funds Weigh In On Amgen
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. OFI Invest Asset Management bought a new position in shares of Amgen during the third quarter valued at $26,000. Briaud Financial Planning Inc bought a new position in shares of Amgen during the third quarter valued at $26,000. IAG Wealth Partners LLC raised its stake in shares of Amgen by 520.0% during the second quarter. IAG Wealth Partners LLC now owns 124 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 104 shares during the last quarter. VisionPoint Advisory Group LLC bought a new position in shares of Amgen during the second quarter valued at $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Amgen during the first quarter valued at $28,000. Institutional investors own 74.44% of the company’s stock.
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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