Amgen Inc. (AMGN) Given a $177.00 Price Target at Credit Suisse Group
Amgen Inc. (NASDAQ:AMGN) received a $177.00 target price from analysts at Credit Suisse Group in a research report issued on Friday. The firm presently has a “hold” rating on the medical research company’s stock. Credit Suisse Group’s price objective would suggest a potential downside of 0.23% from the company’s current price.
Other analysts have also issued research reports about the company. Vetr lowered Amgen from a “strong-buy” rating to a “buy” rating and set a $178.82 price target for the company. in a report on Monday, April 3rd. Mizuho reiterated a “buy” rating and issued a $195.00 price target on shares of Amgen in a report on Monday, April 3rd. Cowen and Company reiterated a “buy” rating and issued a $209.00 price target on shares of Amgen in a report on Thursday, April 27th. Oppenheimer Holdings, Inc. set a $189.00 price target on Amgen and gave the company a “buy” rating in a report on Tuesday, May 9th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $198.00 price target (down previously from $200.00) on shares of Amgen in a report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $185.17.
Shares of Amgen (NASDAQ:AMGN) traded up 0.15% on Friday, hitting $177.40. The stock had a trading volume of 2,692,421 shares. The company has a 50-day moving average of $162.22 and a 200-day moving average of $162.64. Amgen has a 52-week low of $133.64 and a 52-week high of $184.21. The company has a market cap of $130.46 billion, a P/E ratio of 16.85 and a beta of 1.35.
Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, April 26th. The medical research company reported $3.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.00 by $0.15. Amgen had a return on equity of 29.37% and a net margin of 34.42%. The business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same quarter in the previous year, the business earned $2.90 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Amgen will post $12.47 EPS for the current fiscal year.
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In other news, SVP Cynthia M. Patton sold 2,922 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total transaction of $451,156.80. Following the sale, the senior vice president now directly owns 24,214 shares of the company’s stock, valued at $3,738,641.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. Lyell Wealth Management LP acquired a new stake in Amgen during the fourth quarter valued at approximately $1,817,000. Greenwood Capital Associates LLC raised its stake in Amgen by 3.9% in the fourth quarter. Greenwood Capital Associates LLC now owns 13,981 shares of the medical research company’s stock valued at $2,044,000 after buying an additional 527 shares during the last quarter. Ally Financial Inc. acquired a new stake in Amgen during the fourth quarter valued at approximately $2,632,000. Nations Financial Group Inc. IA ADV acquired a new stake in Amgen during the fourth quarter valued at approximately $252,000. Finally, Marietta Wealth Management LLC acquired a new stake in Amgen during the fourth quarter valued at approximately $1,379,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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