Amgen (NASDAQ:AMGN) Now Covered by Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Amgen (NASDAQ:AMGNGet Free Report) in a research note issued to investors on Friday, Briefing.com reports. The firm set an “overweight” rating and a $405.00 price target on the medical research company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 26.92% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Robert W. Baird restated an “underperform” rating and set a $215.00 target price on shares of Amgen in a research note on Wednesday. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price target on shares of Amgen in a research note on Thursday. TD Cowen upped their price objective on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $325.55.

Check Out Our Latest Research Report on Amgen

Amgen Price Performance

Shares of NASDAQ AMGN opened at $319.10 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The company has a market cap of $171.18 billion, a price-to-earnings ratio of 45.59, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The stock’s 50-day moving average is $328.94 and its two-hundred day moving average is $307.00. Amgen has a 1-year low of $249.70 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGNGet Free Report) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the previous year, the company posted $5.00 earnings per share. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. Analysts forecast that Amgen will post 19.49 EPS for the current fiscal year.

Institutional Trading of Amgen

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Keynote Financial Services LLC grew its position in shares of Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after acquiring an additional 30 shares in the last quarter. Ascent Group LLC boosted its holdings in Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after purchasing an additional 31 shares during the period. RFP Financial Group LLC increased its stake in Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 32 shares during the last quarter. Hofer & Associates. Inc raised its holdings in shares of Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after purchasing an additional 32 shares during the period. Finally, Blossom Wealth Management lifted its position in shares of Amgen by 3.3% in the 2nd quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock worth $320,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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