Amgen (NASDAQ:AMGN) Now Covered by Analysts at Cantor Fitzgerald

Analysts at Cantor Fitzgerald started coverage on shares of Amgen (NASDAQ:AMGN) in a research note issued on Tuesday. The firm set a “neutral” rating and a $305.00 price target on the medical research company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 11.44% from the stock’s previous close.

Several other brokerages also recently weighed in on AMGN. Morgan Stanley lifted their price objective on shares of Amgen from $328.00 to $330.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 9th. UBS Group increased their price objective on Amgen from $315.00 to $319.00 and gave the stock a “neutral” rating in a report on Monday, April 14th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Finally, Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen has an average rating of “Hold” and an average target price of $310.57.

Amgen Trading Down 1.3 %

NASDAQ:AMGN opened at $273.68 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company has a market cap of $147.14 billion, a PE ratio of 36.25, a P/E/G ratio of 2.63 and a beta of 0.59. Amgen has a 52 week low of $253.30 and a 52 week high of $346.85. The business’s 50 day moving average is $302.62 and its two-hundred day moving average is $293.55.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, analysts predict that Amgen will post 20.62 EPS for the current year.

Insider Buying and Selling

In related news, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Amgen

Hedge funds have recently modified their holdings of the stock. Centricity Wealth Management LLC acquired a new stake in shares of Amgen during the 4th quarter valued at about $25,000. Pinney & Scofield Inc. bought a new stake in Amgen in the fourth quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 51 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in shares of Amgen in the 4th quarter valued at $34,000. Finally, Atala Financial Inc acquired a new position in Amgen during the fourth quarter worth $34,000. 76.50% of the stock is owned by institutional investors and hedge funds.

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.