Amgen (NASDAQ:AMGN) PT Raised to $383.00 at TD Cowen

Amgen (NASDAQ:AMGN) had its price objective hoisted by TD Cowen from $381.00 to $383.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. TD Cowen’s price target suggests a potential upside of 19.81% from the stock’s current price.

Several other analysts have also recently weighed in on the company. Cantor Fitzgerald assumed coverage on Amgen in a report on Friday, September 27th. They set an “overweight” rating and a $405.00 price objective for the company. Sanford C. Bernstein began coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Trading Up 0.9 %

AMGN opened at $319.66 on Monday. Amgen has a 1-year low of $249.70 and a 1-year high of $346.85. The firm has a 50-day moving average price of $325.93 and a two-hundred day moving average price of $313.11. The stock has a market capitalization of $171.48 billion, a PE ratio of 45.67, a PEG ratio of 2.86 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the firm earned $5.00 EPS. As a group, equities analysts anticipate that Amgen will post 19.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amgen

Hedge funds and other institutional investors have recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new position in shares of Amgen during the 2nd quarter worth about $26,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen during the 2nd quarter worth approximately $30,000. nVerses Capital LLC bought a new stake in shares of Amgen during the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at approximately $33,000. Finally, Matrix Trust Co bought a new position in shares of Amgen in the third quarter valued at $36,000. Institutional investors and hedge funds 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.