William Blair Reiterates “Outperform” Rating for Amgen (NASDAQ:AMGN)

Amgen (NASDAQ:AMGN)‘s stock had its “outperform” rating restated by equities researchers at William Blair in a research report issued on Tuesday,RTT News reports.

A number of other equities analysts have also recently commented on AMGN. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and boosted their price target for the stock from $320.00 to $333.00 in a report on Monday, October 14th. UBS Group reduced their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Bank of America upped their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. 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 research report on Wednesday, August 7th. Finally, Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Price Performance

Amgen stock opened at $301.44 on Tuesday. The firm has a market cap of $162.03 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 2.67 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The stock’s fifty day moving average price is $322.74 and its two-hundred day moving average price is $318.27. Amgen has a one year low of $260.52 and a one year high of $346.85.

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

Hedge Funds Weigh In On Amgen

Several institutional investors have recently made changes to their positions in AMGN. Townsquare Capital LLC increased its position in Amgen by 3.1% in the 3rd quarter. Townsquare Capital LLC now owns 28,794 shares of the medical research company’s stock valued at $9,278,000 after buying an additional 855 shares in the last quarter. Shum Financial Group Inc. bought a new stake in shares of Amgen during the third quarter valued at approximately $352,000. Avestar Capital LLC raised its position in shares of Amgen by 8.1% during the third quarter. Avestar Capital LLC now owns 4,570 shares of the medical research company’s stock worth $1,472,000 after purchasing an additional 344 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Amgen by 1.1% in the 3rd quarter. Brooklyn Investment Group now owns 3,377 shares of the medical research company’s stock worth $1,088,000 after purchasing an additional 38 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Amgen in the 3rd quarter valued at $150,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

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.