Amgen (NASDAQ:AMGN) Sees Unusually-High Trading Volume

Shares of Amgen Inc. (NASDAQ:AMGN) saw an uptick in trading volume on Friday . 1,470,309 shares traded hands during mid-day trading, a decline of 46% from the previous session’s volume of 2,734,803 shares.The stock last traded at $309.45 and had previously closed at $309.89.

Analysts Set New Price Targets

A number of brokerages have commented on AMGN. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. TD Cowen decreased their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. BMO Capital Markets raised their price target on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Royal Bank of Canada raised their target price on shares of Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Finally, Mizuho raised their target price on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $305.85.

Amgen Stock Down 0.6 %

The stock has a market capitalization of $165.31 billion, a price-to-earnings ratio of 44.02, a price-to-earnings-growth ratio of 2.80 and a beta of 0.60. The business’s 50-day moving average is $296.57 and its two-hundred day moving average is $290.69. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

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

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is owned by insiders.

Institutional Investors Weigh In On Amgen

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. HM Payson & Co. raised its stake in shares of Amgen by 22.0% in the 1st quarter. HM Payson & Co. now owns 172,511 shares of the medical research company’s stock valued at $49,048,000 after acquiring an additional 31,081 shares during the period. NBW Capital LLC grew its holdings in shares of Amgen by 24.8% in the first quarter. NBW Capital LLC now owns 1,066 shares of the medical research company’s stock valued at $303,000 after purchasing an additional 212 shares in the last quarter. Keynote Financial Services LLC acquired a new position in shares of Amgen in the first quarter valued at approximately $1,384,000. IMS Capital Management grew its holdings in shares of Amgen by 10.8% in the first quarter. IMS Capital Management now owns 5,934 shares of the medical research company’s stock valued at $1,687,000 after purchasing an additional 576 shares in the last quarter. Finally, Cypress Asset Management Inc. TX grew its holdings in shares of Amgen by 14.9% in the first quarter. Cypress Asset Management Inc. TX now owns 4,277 shares of the medical research company’s stock valued at $1,247,000 after purchasing an additional 555 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

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.