Leerink Partners Lowers Amgen (NASDAQ:AMGN) Price Target to $302.00

Amgen (NASDAQ:AMGN) had its target price decreased by analysts at Leerink Partners from $349.00 to $302.00 in a report issued on Wednesday. Leerink Partners’ price objective indicates a potential upside of 7.83% from the company’s current price.

A number of other research firms also recently weighed in on AMGN. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Bank of America boosted their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Finally, StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus price target of $323.05.

Amgen Price Performance

Shares of AMGN opened at $280.07 on Wednesday. The company has a market capitalization of $150.55 billion, a P/E ratio of 35.86, a price-to-earnings-growth ratio of 2.62 and a beta of 0.60. 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 has a twelve month low of $257.80 and a twelve month high of $346.85. The firm has a 50 day moving average of $312.46 and a 200 day moving average of $317.31.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.96 EPS. As a group, equities research analysts anticipate that Amgen will post 19.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amgen

Several large investors have recently bought and sold shares of AMGN. Keynote Financial Services LLC boosted 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 worth $1,530,000 after buying an additional 30 shares in the last quarter. Ascent Group LLC boosted its stake 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 worth $3,421,000 after acquiring an additional 31 shares in the last quarter. Hofer & Associates. Inc boosted its stake in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after acquiring an additional 32 shares in the last quarter. Cadinha & Co. LLC grew its position in shares of Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after acquiring an additional 32 shares during the period. Finally, Lansing Street Advisors increased its stake in shares of Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after purchasing an additional 32 shares in the last quarter. Institutional investors 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.