Mizuho set a $208.00 price target on Amgen (NASDAQ:AMGN) in a research report released on Friday, AnalystRatings.com reports. The firm currently has a buy rating on the medical research company’s stock.
“We think the peak sales potential of Vascepa is underappreciated. Therefore, upward earnings revisions to levels not reflected in FactSet consensus expectations should drive AMRN shares higher. Valuation Summary We continue to use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $35.”,” Mizuho’s analyst commented.
Several other brokerages have also issued reports on AMGN. Royal Bank of Canada reissued a neutral rating and set a target price on shares of Amgen in a research note on Monday, January 14th. Zacks Investment Research raised shares of Amgen from a hold rating to a buy rating and set a $225.00 target price on the stock in a research note on Monday, January 14th. Cowen reissued a buy rating and set a $234.00 target price on shares of Amgen in a research note on Tuesday, February 26th. Cantor Fitzgerald reissued a hold rating and set a $221.00 target price on shares of Amgen in a research note on Monday, April 1st. Finally, BidaskClub lowered shares of Amgen from a strong-buy rating to a buy rating in a research note on Tuesday, January 29th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $209.11.
AMGN opened at $191.20 on Friday. Amgen has a twelve month low of $165.22 and a twelve month high of $210.19. The company has a quick ratio of 2.57, a current ratio of 2.79 and a debt-to-equity ratio of 2.36. The firm has a market cap of $117.91 billion, a PE ratio of 13.28, a PEG ratio of 2.35 and a beta of 1.21.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, January 29th. The medical research company reported $3.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.26 by $0.16. Amgen had a net margin of 35.35% and a return on equity of 66.74%. The company had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. During the same period in the prior year, the company posted $2.89 earnings per share. As a group, research analysts anticipate that Amgen will post 13.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is 40.28%.
In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $188.88, for a total value of $377,760.00. Following the transaction, the director now directly owns 14,988 shares of the company’s stock, valued at $2,830,933.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 6,000 shares of company stock worth $1,144,120 over the last ninety days. Insiders own 0.27% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in AMGN. Oregon Public Employees Retirement Fund lifted its stake in shares of Amgen by 20,103.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,424,215 shares of the medical research company’s stock valued at $161,000 after buying an additional 31,268,677 shares in the last quarter. Norges Bank bought a new position in shares of Amgen in the fourth quarter valued at $1,283,248,000. BlackRock Inc. lifted its stake in shares of Amgen by 2.0% in the fourth quarter. BlackRock Inc. now owns 46,127,396 shares of the medical research company’s stock valued at $8,979,621,000 after buying an additional 906,568 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Amgen by 36.2% during the third quarter. AQR Capital Management LLC now owns 2,907,575 shares of the medical research company’s stock valued at $602,711,000 after purchasing an additional 773,506 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Amgen by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 8,850,224 shares of the medical research company’s stock valued at $1,720,250,000 after purchasing an additional 482,760 shares in the last quarter. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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