Amgen (NASDAQ:AMGN) Price Target Lowered to $295.00 at Citigroup

Amgen (NASDAQ:AMGNGet Free Report) had its price target cut by Citigroup from $310.00 to $295.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Citigroup’s price objective suggests a potential upside of 4.26% from the company’s current price.

Several other equities research analysts have also issued reports on AMGN. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Truist Financial cut their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $314.00.

Get Our Latest Research Report on Amgen

Amgen Stock Performance

NASDAQ AMGN opened at $282.95 on Tuesday. The firm’s 50 day simple moving average is $271.39 and its 200 day simple moving average is $305.81. The firm has a market capitalization of $152.09 billion, a price-to-earnings ratio of 36.23, a P/E/G ratio of 2.78 and a beta of 0.56. 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 has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGNGet Free Report) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the business posted $4.96 EPS. The company’s revenue was up 23.2% compared to the same quarter last year. As a group, research analysts expect that Amgen will post 19.56 earnings per share for the current fiscal year.

Institutional Trading of Amgen

A number of large investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Amgen in the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the 3rd quarter valued at $29,000. Matrix Trust Co bought a new position in Amgen during the third quarter worth about $36,000. Heck Capital Advisors LLC purchased a new position in shares of Amgen in the fourth quarter worth about $36,000. Finally, Livelsberger Financial Advisory purchased a new position in Amgen in the 3rd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

About Amgen

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.