Amgen (NASDAQ:AMGN) PT Lowered to $284.00

Amgen (NASDAQ:AMGN) had its price objective decreased by equities research analysts at UBS Group from $314.00 to $284.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. UBS Group’s price objective points to a potential upside of 8.09% from the company’s previous close.

Other analysts also recently issued reports about the stock. BMO Capital Markets upgraded shares of Amgen from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $286.00 to $326.00 in a report on Tuesday, December 19th. TD Cowen lowered their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley decreased their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Raymond James started coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating for the company. Finally, The Goldman Sachs Group increased their target price on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Stock Performance

NASDAQ AMGN opened at $262.75 on Wednesday. The company has a 50-day simple moving average of $277.34 and a two-hundred day simple moving average of $281.24. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. Amgen has a 12-month low of $211.71 and a 12-month high of $329.72. The firm has a market cap of $140.81 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.47 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the prior year, the firm earned $4.09 earnings per share. Amgen’s revenue was up 19.8% on a year-over-year basis. On average, equities analysts forecast that Amgen will post 19.46 EPS for the current year.

Hedge Funds Weigh In On Amgen

Several institutional investors and hedge funds have recently bought and sold shares of the business. OFI Invest Asset Management acquired a new stake in Amgen in the 3rd quarter worth approximately $26,000. Briaud Financial Planning Inc bought a new position in Amgen in the third quarter valued at about $26,000. Strategic Investment Solutions Inc. IL bought a new position in Amgen during the first quarter worth about $28,000. BOK Financial Private Wealth Inc. bought a new position in Amgen during the fourth quarter worth about $29,000. Finally, United Community Bank acquired a new stake in shares of Amgen during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

About Amgen

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.