Amgen (NASDAQ:AMGN) Stock Rating Reaffirmed by Truist Financial

Amgen (NASDAQ:AMGN)‘s stock had its “buy” rating restated by equities researchers at Truist Financial in a research note issued on Friday, Benzinga reports. They currently have a $320.00 price objective on the medical research company’s stock. Truist Financial’s price objective would indicate a potential upside of 19.72% from the stock’s previous close.

AMGN has been the subject of several other reports. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. BMO Capital Markets upgraded shares of Amgen from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $286.00 to $326.00 in a research report on Tuesday, December 19th. Raymond James started coverage on shares of Amgen in a report on Thursday, March 28th. They set a “market perform” rating for the company. Leerink Partnrs cut shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Finally, StockNews.com lowered shares of Amgen from a “buy” rating to a “hold” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $295.30.

Amgen Trading Down 1.0 %

NASDAQ:AMGN opened at $267.28 on Friday. Amgen has a 1 year low of $211.71 and a 1 year high of $329.72. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The stock has a fifty day moving average price of $280.76 and a two-hundred day moving average price of $281.47. The stock has a market capitalization of $143.24 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.55 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (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 154.27%. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter last year, the firm posted $4.09 EPS. The business’s revenue was up 19.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amgen will post 19.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amgen

A number of hedge funds have recently made changes to their positions in AMGN. BIP Wealth LLC increased its stake in Amgen by 2.6% during the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after acquiring an additional 32 shares during the last quarter. Southland Equity Partners LLC increased its position in Amgen by 2.3% during the 4th quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after purchasing an additional 34 shares in the last quarter. Acropolis Investment Management LLC increased its position in Amgen by 3.5% during the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after purchasing an additional 34 shares in the last quarter. Opal Wealth Advisors LLC raised its holdings in Amgen by 1.9% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after buying an additional 34 shares during the period. Finally, Marino Stram & Associates LLC lifted its position in Amgen by 0.7% during the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.