Amgen (NASDAQ:AMGN) Stock Rating Lowered by Leerink Partnrs

Amgen (NASDAQ:AMGNGet Free Report) was downgraded by research analysts at Leerink Partnrs from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, PriceTargets.com reports. Leerink Partnrs also issued estimates for Amgen’s FY2028 earnings at $20.92 EPS.

Several other research analysts also recently weighed in on AMGN. UBS Group cut their target price on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a research note on Monday, January 29th. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Argus lifted their price target on Amgen from $280.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Wells Fargo & Company lifted their price target on Amgen from $265.00 to $320.00 in a report on Thursday, October 12th. Finally, The Goldman Sachs Group lifted their price target on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $295.30.

Read Our Latest Stock Report on AMGN

Amgen Trading Down 0.3 %

NASDAQ:AMGN opened at $294.85 on Wednesday. The company has a market capitalization of $157.80 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.84 and a beta of 0.62. The company has a quick ratio of 2.56, a current ratio of 2.86 and a debt-to-equity ratio of 7.71. Amgen has a 52-week low of $211.71 and a 52-week high of $329.72. The stock has a fifty day simple moving average of $294.92 and a 200-day simple moving average of $273.81.

Amgen (NASDAQ:AMGNGet Free Report) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 152.15%. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the previous year, the company posted $4.09 EPS. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities research analysts expect that Amgen will post 19.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,096 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $273.03, for a total value of $572,270.88. Following the completion of the transaction, the senior vice president now owns 10,874 shares in the company, valued at approximately $2,968,928.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amgen

A number of institutional investors and hedge funds have recently bought and sold shares of AMGN. BIP Wealth LLC grew its stake in shares of Amgen by 2.6% in the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after purchasing an additional 32 shares in the last quarter. Southland Equity Partners LLC grew its stake in shares of Amgen by 2.3% in the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after purchasing an additional 34 shares in the last quarter. Acropolis Investment Management LLC grew its stake in shares of Amgen by 3.5% in the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after purchasing an additional 34 shares in the last quarter. Opal Wealth Advisors LLC grew its stake in shares of Amgen by 1.9% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $538,000 after purchasing an additional 34 shares in the last quarter. Finally, Marino Stram & Associates LLC grew its stake in shares of Amgen by 0.7% in the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.

About Amgen

(Get Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Beh├žet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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