TD Cowen Lowers Amgen (NASDAQ:AMGN) Price Target to $360.00

Amgen (NASDAQ:AMGN) had its price target dropped by TD Cowen from $370.00 to $360.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. TD Cowen’s target price indicates a potential upside of 37.01% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley cut their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $324.00 to $318.00 in a research report on Wednesday, February 7th. UBS Group cut their price objective on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a research report on Monday, January 29th. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Finally, Daiwa Capital Markets raised shares of Amgen from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $264.00 to $320.00 in a research report on Thursday, December 21st. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $296.95.

Amgen Trading Down 0.5 %

NASDAQ:AMGN opened at $262.75 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. Amgen has a 12 month low of $211.71 and a 12 month high of $329.72. The company has a market cap of $140.81 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.47 and a beta of 0.58. The company has a 50 day simple moving average of $277.34 and a two-hundred day simple moving average of $281.24.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the previous year, the firm posted $4.09 EPS. The firm’s revenue was up 19.8% on a year-over-year basis. Research analysts forecast that Amgen will post 19.46 earnings per share for the current year.

Institutional Trading of Amgen

Several hedge funds have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC increased its holdings in shares of Amgen by 83,875.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock worth $1,980,571,000 after buying an additional 7,532,031 shares during the last quarter. Norges Bank bought a new stake in shares of Amgen in the 4th quarter worth about $1,556,912,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Amgen by 158.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company’s stock worth $774,791,000 after buying an additional 1,806,456 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Amgen in the 4th quarter worth about $4,589,900,000. Finally, Morgan Stanley increased its holdings in shares of Amgen by 12.9% in the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after buying an additional 1,523,665 shares during the last quarter. Hedge funds and other 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.