Amgen Inc. (AMGN) Given a $193.00 Price Target by Piper Jaffray Cos. Analysts
Amgen Inc. (NASDAQ:AMGN) has been given a $193.00 price target by Piper Jaffray Cos. in a note issued to investors on Thursday. The firm currently has a a “buy” rating on the medical research company’s stock. Piper Jaffray Cos.’s price target points to a potential upside of 11.59% from the stock’s current price.
A number of other brokerages have also recently weighed in on AMGN. Bank of America Corp. reiterated a “hold” rating on shares of Amgen in a research note on Thursday, May 19th. BMO Capital Markets restated a “buy” rating and issued a $186.00 target price on shares of Amgen in a research note on Tuesday, July 12th. Vetr upgraded shares of Amgen from a “sell” rating to a “hold” rating and set a $165.78 target price for the company in a research note on Wednesday, July 27th. Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Finally, Robert W. Baird restated a “neutral” rating and issued a $157.00 target price on shares of Amgen in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $184.87.
Shares of Amgen (NASDAQ:AMGN) opened at 172.96 on Thursday. The company’s 50-day moving average is $171.85 and its 200 day moving average is $158.72. Amgen has a 52 week low of $130.09 and a 52 week high of $176.64. The stock has a market cap of $129.44 billion, a PE ratio of 17.70 and a beta of 0.87.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.10. The firm earned $5.69 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Amgen had a net margin of 33.07% and a return on equity of 29.30%. Amgen’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.57 EPS. Analysts forecast that Amgen will post $11.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th were given a dividend of $1.00 per share. The ex-dividend date was Monday, August 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.31%. Amgen’s dividend payout ratio (DPR) is 40.90%.
In other Amgen news, VP Annette Louise Such sold 3,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total transaction of $523,770.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Amgen by 1.5% in the second quarter. Vanguard Group Inc. now owns 46,679,076 shares of the medical research company’s stock worth $7,102,222,000 after buying an additional 673,247 shares during the period. FMR LLC boosted its position in shares of Amgen by 4.0% in the second quarter. FMR LLC now owns 32,386,936 shares of the medical research company’s stock worth $4,927,672,000 after buying an additional 1,259,875 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Amgen by 1.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 20,435,310 shares of the medical research company’s stock worth $3,109,232,000 after buying an additional 271,591 shares during the period. Wellington Management Group LLP boosted its position in shares of Amgen by 16.0% in the first quarter. Wellington Management Group LLP now owns 13,544,922 shares of the medical research company’s stock worth $2,030,789,000 after buying an additional 1,864,688 shares during the period. Finally, BlackRock Fund Advisors boosted its position in shares of Amgen by 1.1% in the second quarter. BlackRock Fund Advisors now owns 12,971,828 shares of the medical research company’s stock worth $1,973,664,000 after buying an additional 138,912 shares during the period. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
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