Amgen (NASDAQ:AMGN) Stock Rating Upgraded by StockNews.com

Amgen (NASDAQ:AMGN) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Sunday.

Several other equities research analysts have also commented on the stock. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Citigroup restated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. UBS Group restated a “neutral” rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Royal Bank of Canada decreased their target price on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Piper Sandler decreased their target price on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $310.18.

Amgen Trading Up 1.3%

Shares of AMGN stock opened at $275.85 on Friday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market cap of $148.33 billion, a PE ratio of 36.54, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company has a 50-day moving average of $290.27 and a two-hundred day moving average of $287.56. Amgen has a 1-year low of $253.30 and a 1-year high of $346.85.

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

Insider Activity at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This trade represents a 40.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in Amgen during the 4th quarter worth about $25,000. Wealth Preservation Advisors LLC acquired a new stake in Amgen in the 1st quarter valued at approximately $25,000. Pinney & Scofield Inc. acquired a new stake in shares of Amgen during the 4th quarter worth approximately $26,000. First Pacific Financial grew its holdings in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after purchasing an additional 67 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE boosted its stake in Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after buying an additional 51 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

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.