Amgen (NASDAQ:AMGN) PT Raised to $307.00

Amgen (NASDAQ:AMGN) had its target price increased by equities researchers at UBS Group from $284.00 to $307.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. UBS Group’s price objective points to a potential downside of 1.38% from the stock’s current price.

AMGN has been the subject of several other reports. Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. The Goldman Sachs Group lifted their price objective on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. TD Cowen reduced their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Morgan Stanley lifted their price objective on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Truist Financial reiterated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $305.05.

Amgen Trading Up 11.8 %

Shares of NASDAQ AMGN opened at $311.29 on Friday. The firm’s 50 day moving average price is $274.95 and its 200-day moving average price is $281.50. Amgen has a 52-week low of $211.71 and a 52-week high of $329.72. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The company has a market cap of $166.97 billion, a PE ratio of 44.47, a P/E/G ratio of 2.69 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.20. The business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a return on equity of 145.62% and a net margin of 12.74%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.98 EPS. On average, equities research analysts expect that Amgen will post 19.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Amgen

Several hedge funds have recently bought and sold shares of the business. OFI Invest Asset Management bought a new position in shares of Amgen during the 3rd quarter worth $26,000. Briaud Financial Planning Inc bought a new position in shares of Amgen during the 3rd quarter worth $26,000. Horizon Financial Services LLC bought a new position in shares of Amgen during the 1st quarter worth $28,000. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen during the 4th quarter worth $29,000. Finally, United Community Bank bought a new position in shares of Amgen during the 4th quarter worth $29,000. 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.