Amgen (NASDAQ:AMGN) Earns “Buy” Rating from Jefferies Financial Group

Amgen (NASDAQ:AMGN)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Financial Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $380.00 price objective on the medical research company’s stock. Jefferies Financial Group’s price target points to a potential upside of 26.06% from the stock’s previous close.

Several other research analysts have also recently issued reports on AMGN. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and lifted their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Oppenheimer restated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Sanford C. Bernstein assumed coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average price target of $333.50.

Amgen Stock Performance

Amgen stock opened at $301.44 on Tuesday. The stock’s 50 day moving average is $322.74 and its 200 day moving average is $318.27. The company has a market capitalization of $162.03 billion, a P/E ratio of 38.60, a PEG ratio of 2.67 and a beta of 0.60. Amgen has a twelve month low of $260.52 and a twelve month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the company earned $4.96 earnings per share. On average, equities research analysts predict that Amgen will post 19.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Keynote Financial Services LLC lifted its holdings in Amgen by 0.6% during the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares in the last quarter. Ascent Group LLC raised its position in shares of Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after purchasing an additional 31 shares during the period. RFP Financial Group LLC lifted its stake in shares of Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after buying an additional 32 shares in the last quarter. Hofer & Associates. Inc boosted its holdings in Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after buying an additional 32 shares during the period. Finally, Cadinha & Co. LLC increased its stake in Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after buying an additional 32 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

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.