Amgen Inc. (NASDAQ:AMGN) Receives Outperform Rating from Cowen and Company
Amgen Inc. (NASDAQ:AMGN)‘s stock had its “outperform” rating restated by equities researchers at Cowen and Company in a note issued to investors on Saturday, July 22nd. They presently have a $209.00 price target on the medical research company’s stock. Cowen and Company’s price target suggests a potential upside of 24.93% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Oppenheimer Holdings, Inc. set a $189.00 price target on Amgen and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Mizuho set a $195.00 price target on Amgen and gave the stock a “buy” rating in a research note on Saturday, May 6th. Vetr cut Amgen from a “strong-buy” rating to a “buy” rating and set a $178.82 price target on the stock. in a research note on Monday, April 3rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $198.00 price target (down from $200.00) on shares of Amgen in a research note on Monday, May 22nd. Finally, ValuEngine raised Amgen from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $186.64.
Shares of Amgen (NASDAQ AMGN) traded down 0.31% during mid-day trading on Friday, reaching $167.29. The company had a trading volume of 1,741,936 shares. The firm has a market capitalization of $122.07 billion, a PE ratio of 15.24 and a beta of 1.35. Amgen has a 12-month low of $133.64 and a 12-month high of $184.21. The stock has a 50 day moving average price of $174.04 and a 200 day moving average price of $168.05.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. The business had revenue of $5.81 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.84 EPS. On average, equities analysts forecast that Amgen will post $12.57 earnings per share for the current year.
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In other news, SVP Cynthia M. Patton sold 2,922 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total value of $451,156.80. Following the completion of the transaction, the senior vice president now owns 24,214 shares in the company, valued at $3,738,641.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Amgen during the fourth quarter valued at $1,016,913,000. Janus Henderson Group PLC boosted its position in Amgen by 3,664.7% in the second quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock valued at $637,139,000 after buying an additional 3,601,087 shares in the last quarter. FMR LLC boosted its position in Amgen by 4.8% in the second quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock valued at $9,817,037,000 after buying an additional 2,587,041 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Amgen during the fourth quarter valued at $275,209,000. Finally, Renaissance Technologies LLC boosted its position in Amgen by 40.9% in the second quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock valued at $585,607,000 after buying an additional 986,700 shares in the last quarter. Hedge funds and other institutional investors own 79.12% of the company’s stock.
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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