Amgen (NASDAQ:AMGN) Coverage Initiated at Wolfe Research

Wolfe Research assumed coverage on shares of Amgen (NASDAQ:AMGN) in a note issued to investors on Friday, Marketbeat Ratings reports. The firm set a “peer perform” rating on the medical research company’s stock.

AMGN has been the topic of a number of other research reports. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. TD Cowen raised their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. UBS Group dropped 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. Finally, Oppenheimer reissued an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $283.61 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm’s 50-day moving average price is $320.85 and its 200-day moving average price is $318.05. Amgen has a 52-week low of $260.52 and a 52-week high of $346.85. The company has a market cap of $152.45 billion, a PE ratio of 36.31, a PEG ratio of 2.69 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its 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 business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.96 EPS. As a group, analysts anticipate that Amgen will post 19.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMGN. Geode Capital Management LLC lifted its position in shares of Amgen by 0.9% in the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after buying an additional 103,851 shares in the last quarter. Sender Co & Partners Inc. raised its holdings in shares of Amgen by 74.3% during the 3rd quarter. Sender Co & Partners Inc. now owns 2,217 shares of the medical research company’s stock worth $714,000 after acquiring an additional 945 shares in the last quarter. Frisch Financial Group Inc. boosted its position in shares of Amgen by 8.1% during the 3rd quarter. Frisch Financial Group Inc. now owns 1,093 shares of the medical research company’s stock valued at $352,000 after acquiring an additional 82 shares during the last quarter. Prestige Wealth Management Group LLC grew its holdings in shares of Amgen by 2.8% in the third quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company’s stock valued at $447,000 after purchasing an additional 38 shares in the last quarter. Finally, Brophy Wealth Management LLC bought a new stake in Amgen in the third quarter worth $1,312,000. Hedge funds and other institutional investors 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.