Amgen Inc. (NASDAQ:AMGN) Receives $309.22 Consensus PT from Analysts

Shares of Amgen Inc. (NASDAQ:AMGN) have earned a consensus recommendation of “Hold” from the twenty-four ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $309.22.

Several equities analysts have recently commented on AMGN shares. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. UBS Group reaffirmed a “neutral” rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Johnson Rice set a $294.00 price target on Amgen in a research note on Wednesday, March 5th. Mizuho upped their price target on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now owns 8,162 shares of the company’s stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amgen

A number of hedge funds have recently bought and sold shares of the stock. Capital World Investors increased its holdings in shares of Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after acquiring an additional 6,029,058 shares during the last quarter. Norges Bank purchased a new position in shares of Amgen in the 4th quarter valued at about $1,541,991,000. GAMMA Investing LLC increased its holdings in shares of Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock valued at $1,140,768,000 after acquiring an additional 3,653,205 shares during the last quarter. Capital International Investors increased its holdings in shares of Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after acquiring an additional 3,495,503 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after acquiring an additional 2,672,975 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 0.1%

Shares of NASDAQ:AMGN opened at $289.98 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The business has a fifty day moving average of $281.26 and a two-hundred day moving average of $285.36. The stock has a market cap of $155.92 billion, a P/E ratio of 38.41, a PEG ratio of 2.63 and a beta of 0.51. Amgen has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the prior year, the business earned $3.96 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that Amgen will post 20.62 earnings per share for the current year.

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.