Citigroup Issues Pessimistic Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price target decreased by investment analysts at Citigroup from $335.00 to $310.00 in a research note issued to investors on Wednesday. Citigroup’s target price would suggest a potential upside of 10.69% from the company’s current price.

AMGN has been the subject of a number of other research reports. UBS Group reduced their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Leerink Partners dropped their price objective on Amgen from $349.00 to $302.00 in a report on Wednesday. Barclays raised their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday. Finally, Jefferies Financial Group reissued a “buy” rating and set a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $323.05.

Amgen Stock Up 0.0 %

Amgen stock opened at $280.07 on Wednesday. The stock has a market capitalization of $150.55 billion, a price-to-earnings ratio of 35.86, a PEG ratio of 2.62 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a 50 day moving average of $312.46 and a two-hundred day moving average of $317.31. Amgen has a twelve month low of $257.80 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm posted $4.96 EPS. As a group, research analysts expect that Amgen will post 19.52 earnings per share for the current year.

Institutional Trading of Amgen

A number of hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Amgen during the 3rd quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new position in Amgen during the second quarter worth approximately $26,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the third quarter worth approximately $29,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $30,000. Finally, nVerses Capital LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at $31,000. 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.