Amgen (NASDAQ:AMGN) Earns Buy Rating from Jefferies Financial Group

Amgen (NASDAQ:AMGN)‘s stock had its “buy” rating reissued by research analysts at Jefferies Financial Group in a report issued on Tuesday,Benzinga reports. They currently have a $380.00 price objective on the medical research company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 26.06% from the company’s previous close.

Several other equities analysts have also recently weighed in on AMGN. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Barclays upped their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Finally, TD Cowen upped their target price on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $333.50.

Amgen Price Performance

AMGN stock opened at $301.44 on Tuesday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The company’s fifty day moving average price is $322.74 and its 200-day moving average price is $318.27. Amgen has a one year low of $260.52 and a one year high of $346.85. The company has a market capitalization of $162.03 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 2.67 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.96 EPS. On average, equities analysts anticipate that Amgen will post 19.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Amgen

Hedge funds have recently added to or reduced their stakes in the stock. Townsquare Capital LLC raised its stake in shares of Amgen by 3.1% during the third quarter. Townsquare Capital LLC now owns 28,794 shares of the medical research company’s stock valued at $9,278,000 after acquiring an additional 855 shares in the last quarter. Shum Financial Group Inc. purchased a new position in Amgen during the 3rd quarter worth $352,000. Avestar Capital LLC raised its position in Amgen by 8.1% during the 3rd quarter. Avestar Capital LLC now owns 4,570 shares of the medical research company’s stock valued at $1,472,000 after purchasing an additional 344 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Amgen by 1.1% in the 3rd quarter. Brooklyn Investment Group now owns 3,377 shares of the medical research company’s stock worth $1,088,000 after buying an additional 38 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Amgen during the 3rd quarter worth $150,000. 76.50% of the stock is currently owned by 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.