Amgen Inc. (NASDAQ:AMGN) Given Average Recommendation of “Moderate Buy” by Analysts

Amgen Inc. (NASDAQ:AMGN) has received a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are presently covering the stock, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $305.85.

A number of research analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 14th. UBS Group lifted their price target on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. TD Cowen decreased their price target on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Finally, Morgan Stanley boosted their target price on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd.

Insider Buying and Selling

In other Amgen 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 transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.69% of the company’s stock.

Institutional Trading of Amgen

A number of institutional investors and hedge funds have recently made changes to their positions in AMGN. BIP Wealth LLC increased its holdings in Amgen by 2.6% in the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after purchasing an additional 32 shares in the last quarter. RFP Financial Group LLC lifted its position in shares of Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after purchasing an additional 32 shares during the last quarter. Southland Equity Partners LLC lifted its position in shares of Amgen by 2.3% during the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after purchasing an additional 34 shares during the last quarter. Acropolis Investment Management LLC lifted its position in shares of Amgen by 3.5% during the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after purchasing an additional 34 shares during the last quarter. Finally, Opal Wealth Advisors LLC lifted its position in shares of Amgen by 1.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $538,000 after purchasing an additional 34 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Up 0.9 %

Shares of NASDAQ AMGN opened at $305.99 on Thursday. Amgen has a twelve month low of $218.44 and a twelve month high of $329.72. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The stock has a fifty day simple moving average of $294.95 and a 200-day simple moving average of $290.16. The stock has a market capitalization of $164.14 billion, a PE ratio of 43.71, a PEG ratio of 2.74 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company’s revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.98 earnings per share. On average, equities analysts forecast that Amgen will post 19.47 earnings per share for the current year.

Amgen Company Profile

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.