Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its target price cut by analysts at Deutsche Bank Aktiengesellschaft from $305.00 to $285.00 in a research note issued to investors on Wednesday. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 1.76% from the company’s previous close.

Other analysts have also recently issued reports about the company. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective for the company. Citigroup assumed coverage on shares of Amgen in a research report on Thursday, November 14th. They set a “neutral” rating and a $335.00 target price on the stock. Wolfe Research started coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $323.05.

Amgen Trading Up 0.0 %

Shares of AMGN stock opened at $280.07 on Wednesday. The firm 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. Amgen has a 1 year low of $257.80 and a 1 year high of $346.85. The firm’s fifty day simple moving average is $312.46 and its 200 day simple moving average is $317.31. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

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

Institutional Investors Weigh In On Amgen

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in Amgen by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 2,156,091 shares of the medical research company’s stock valued at $699,910,000 after purchasing an additional 76,798 shares during the period. Asset Advisors Investment Management LLC lifted its holdings in Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after buying an additional 2,954 shares during the period. Synovus Financial Corp boosted its stake in Amgen by 3.2% in the third quarter. Synovus Financial Corp now owns 65,564 shares of the medical research company’s stock valued at $21,124,000 after acquiring an additional 2,046 shares during the last quarter. Tidal Investments LLC grew its holdings in Amgen by 2.7% during the 3rd quarter. Tidal Investments LLC now owns 24,480 shares of the medical research company’s stock worth $7,888,000 after acquiring an additional 646 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Amgen by 9.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 65,201 shares of the medical research company’s stock valued at $21,008,000 after acquiring an additional 5,748 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

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.