Amgen (NASDAQ:AMGN) Rating Increased to Strong-Buy at StockNews.com

Amgen (NASDAQ:AMGN) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

Other equities analysts also recently issued research reports about the stock. Mizuho increased their price target on shares of Amgen from $214.00 to $223.00 and gave the company a “neutral” rating in a report on Monday, August 14th. Credit Suisse Group dropped their target price on shares of Amgen from $220.00 to $200.00 in a report on Wednesday, July 12th. Argus decreased their price target on Amgen from $270.00 to $260.00 in a research note on Monday, June 26th. Barclays dropped their price objective on Amgen from $225.00 to $210.00 in a research note on Tuesday, July 11th. Finally, Royal Bank of Canada boosted their target price on Amgen from $250.00 to $253.00 and gave the stock a “sector perform” rating in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $259.53.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $254.39 on Friday. The company has a debt-to-equity ratio of 8.76, a quick ratio of 2.48 and a current ratio of 2.77. Amgen has a one year low of $211.71 and a one year high of $296.67. The company has a 50-day simple moving average of $243.67 and a 200-day simple moving average of $236.69. The stock has a market capitalization of $136.07 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 3.19 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $5.00 EPS for the quarter, topping the consensus estimate of $4.44 by $0.56. Amgen had a return on equity of 196.60% and a net margin of 30.02%. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter in the prior year, the business earned $4.65 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that Amgen will post 18.35 EPS for the current year.

Insider Activity

In other Amgen news, EVP Murdo Gordon sold 9,558 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $262.43, for a total transaction of $2,508,305.94. Following the transaction, the executive vice president now owns 44,308 shares of the company’s stock, valued at approximately $11,627,748.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Amgen

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Builder Investment Group Inc. ADV acquired a new position in shares of Amgen during the fourth quarter valued at $378,000. FCA Corp TX boosted its holdings in shares of Amgen by 10.4% in the first quarter. FCA Corp TX now owns 17,321 shares of the medical research company’s stock valued at $4,187,000 after acquiring an additional 1,634 shares in the last quarter. Eudaimonia Partners LLC raised its holdings in Amgen by 62.9% during the first quarter. Eudaimonia Partners LLC now owns 1,886 shares of the medical research company’s stock worth $456,000 after purchasing an additional 728 shares in the last quarter. PFG Investments LLC bought a new position in Amgen during the 1st quarter valued at $449,000. Finally, Johnson Financial Group Inc. boosted its stake in Amgen by 12.6% during the 1st quarter. Johnson Financial Group Inc. now owns 11,415 shares of the medical research company’s stock valued at $2,760,000 after purchasing an additional 1,277 shares in the last quarter. 74.44% of the stock is currently owned by institutional investors and hedge funds.

Amgen Company Profile

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 Behçet'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.