Amgen (NASDAQ:AMGN) Price Target Raised to $307.00

Amgen (NASDAQ:AMGN) had its price objective hoisted by UBS Group from $284.00 to $307.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the medical research company’s stock. UBS Group’s target price points to a potential downside of 1.38% from the stock’s previous close.

A number of other brokerages have also recently weighed in on AMGN. Royal Bank of Canada dropped their price objective on Amgen from $332.00 to $328.00 and set an “outperform” rating for the company in a research note on Friday. Leerink Partnrs cut Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. BMO Capital Markets lifted their price objective on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $230.00 to $300.00 in a research note on Friday. Finally, TD Cowen lowered their target price on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $305.05.

Amgen Price Performance

NASDAQ:AMGN opened at $311.29 on Friday. Amgen has a 52 week low of $211.71 and a 52 week high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The company has a market capitalization of $166.97 billion, a P/E ratio of 44.47, a P/E/G ratio of 2.69 and a beta of 0.60. The stock’s fifty day moving average is $274.95 and its two-hundred day moving average is $281.50.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 145.62% and a net margin of 12.74%. The company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter in the previous year, the business earned $3.98 earnings per share. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. Equities analysts expect that Amgen will post 19.43 EPS for the current year.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Institutional Trading of Amgen

Institutional investors and hedge funds have recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Amgen by 1.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock valued at $3,133,000 after purchasing an additional 193 shares during the last quarter. Diversified Trust Co raised its stake in Amgen by 76.8% during the 4th quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock valued at $10,857,000 after acquiring an additional 16,376 shares during the last quarter. Nicolet Advisory Services LLC raised its stake in Amgen by 4.4% during the 3rd quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock valued at $745,000 after acquiring an additional 117 shares during the last quarter. Platform Technology Partners raised its stake in Amgen by 7.4% during the 3rd quarter. Platform Technology Partners now owns 5,830 shares of the medical research company’s stock valued at $1,567,000 after acquiring an additional 402 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its stake in Amgen by 2.4% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock valued at $1,363,000 after acquiring an additional 109 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

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.