Amgen’s (NASDAQ:AMGN) Buy Rating Reiterated at BMO Capital Markets
BMO Capital Markets restated their buy rating on shares of Amgen Inc. (NASDAQ:AMGN) in a research report released on Friday. They currently have a $199.00 price target on the medical research company’s stock.
Several other research analysts have also weighed in on the stock. Jefferies Group LLC restated a buy rating and set a $195.00 target price on shares of Amgen in a research report on Monday, July 17th. Credit Suisse Group set a $177.00 target price on shares of Amgen and gave the stock a hold rating in a research report on Friday, July 14th. Oppenheimer Holdings, Inc. restated an outperform rating and set a $189.00 target price on shares of Amgen in a research report on Friday, July 14th. Morgan Stanley restated an overweight rating on shares of Amgen in a research report on Monday, July 10th. Finally, Mizuho restated a buy rating and set a $195.00 target price on shares of Amgen in a research report on Sunday, July 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $185.21.
Shares of Amgen (AMGN) opened at 181.06 on Friday. The firm has a market capitalization of $133.15 billion, a PE ratio of 17.20 and a beta of 1.35. The company has a 50-day moving average price of $170.78 and a 200 day moving average price of $165.90. Amgen has a 12-month low of $133.64 and a 12-month high of $184.21.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, April 26th. The medical research company reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.15. Amgen had a net margin of 34.42% and a return on equity of 29.37%. The firm had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the prior year, the company posted $2.90 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts expect that Amgen will post $12.47 earnings per share for the current year.
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In other Amgen news, SVP Cynthia M. Patton sold 2,922 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total transaction of $451,156.80. Following the transaction, the senior vice president now owns 24,214 shares of the company’s stock, valued at $3,738,641.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. First Republic Investment Management Inc. increased its position in Amgen by 3.0% in the fourth quarter. First Republic Investment Management Inc. now owns 558,210 shares of the medical research company’s stock worth $81,616,000 after buying an additional 16,521 shares in the last quarter. Camelot Portfolios LLC acquired a new position in shares of Amgen during the first quarter worth approximately $1,429,000. Private Asset Management Inc. increased its position in shares of Amgen by 117.8% in the first quarter. Private Asset Management Inc. now owns 3,591 shares of the medical research company’s stock worth $589,000 after buying an additional 1,942 shares in the last quarter. Cadence Bank NA increased its position in shares of Amgen by 6.2% in the first quarter. Cadence Bank NA now owns 3,376 shares of the medical research company’s stock worth $554,000 after buying an additional 197 shares in the last quarter. Finally, Quest Investment Management Inc. OR increased its position in shares of Amgen by 2,608.6% in the fourth quarter. Quest Investment Management Inc. OR now owns 59,372 shares of the medical research company’s stock worth $8,681,000 after buying an additional 57,180 shares in the last quarter. 78.87% of the stock is currently owned by institutional investors.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. 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 KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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