Amgen (NASDAQ:AMGN – Get 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.
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Amgen Stock Performance
Amgen (NASDAQ:AMGN – Get 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
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.
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