Amgen Inc. (NASDAQ:AMGN)‘s stock had its “overweight” rating reissued by equities research analysts at Morgan Stanley in a report issued on Friday. They presently have a $196.00 target price on the medical research company’s stock, up from their prior target price of $189.00. Morgan Stanley’s target price would suggest a potential upside of 5.48% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Cann reissued a “buy” rating and issued a $203.00 price objective on shares of Amgen in a report on Friday. Bank of America Corporation upped their price objective on shares of Amgen to $210.00 and gave the company a “buy” rating in a report on Thursday. Credit Suisse Group reissued a “neutral” rating and issued a $186.00 price objective (up previously from $177.00) on shares of Amgen in a report on Friday, September 29th. Mizuho reissued a “buy” rating and issued a $198.00 price objective (up previously from $183.00) on shares of Amgen in a report on Thursday, September 28th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $200.00 price objective on shares of Amgen in a report on Monday, September 25th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $189.99.

Shares of Amgen (NASDAQ AMGN) opened at 185.82 on Friday. The company has a market cap of $135.59 billion, a price-to-earnings ratio of 16.93 and a beta of 1.36. The stock has a 50 day moving average of $181.33 and a 200 day moving average of $170.23. Amgen has a 12-month low of $133.64 and a 12-month high of $191.10. Amgen also was the target of unusually large options trading activity on Thursday. Stock traders purchased 9,350 put options on the company. This is an increase of approximately 239% compared to the average daily volume of 2,758 put options.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The business had revenue of $5.81 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same quarter in the prior year, the firm earned $2.84 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts predict that Amgen will post $12.58 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of AMGN. Janus Henderson Group PLC lifted its position in shares of Amgen by 3,664.7% during the second quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock worth $637,139,000 after purchasing an additional 3,601,087 shares in the last quarter. FMR LLC lifted its position in shares of Amgen by 4.8% during the second quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock worth $9,817,037,000 after purchasing an additional 2,587,041 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Amgen by 40.9% during the second quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock worth $585,607,000 after purchasing an additional 986,700 shares in the last quarter. BlackRock Inc. lifted its position in shares of Amgen by 1.9% during the second quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock worth $8,516,980,000 after purchasing an additional 909,689 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Amgen by 12.9% during the second quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock worth $1,212,602,000 after purchasing an additional 806,119 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

About Amgen

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).

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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