Amgen (NASDAQ:AMGN) Given “Overweight” Rating at Piper Sandler Companies

Amgen (NASDAQ:AMGN)‘s stock had its “overweight” rating reissued by Piper Sandler Companies in a report released on Thursday, Stock Target Advisor reports. They currently have a $310.00 price target on the medical research company’s stock. Piper Sandler Companies’ target price suggests a potential upside of 18.94% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on AMGN. Sanford C. Bernstein initiated coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. UBS Group decreased their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price target on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $318.83.

Amgen Trading Up 0.5 %

AMGN stock opened at $260.64 on Thursday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen has a 1-year low of $253.30 and a 1-year high of $346.85. The business has a 50 day simple moving average of $286.87 and a two-hundred day simple moving average of $311.06. The company has a market capitalization of $140.10 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 2.91 and a beta of 0.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.96 earnings per share. Research analysts anticipate that Amgen will post 19.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Amgen

A number of institutional investors have recently added to or reduced their stakes in AMGN. Principal Financial Group Inc. grew its position in shares of Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after buying an additional 35,785 shares during the last quarter. Copley Financial Group Inc. acquired a new position in shares of Amgen during the third quarter worth $426,000. Fidelity D & D Bancorp Inc. lifted its holdings in shares of Amgen by 9.8% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 977 shares of the medical research company’s stock valued at $315,000 after purchasing an additional 87 shares during the last quarter. Old North State Trust LLC boosted its position in shares of Amgen by 6.7% in the 3rd quarter. Old North State Trust LLC now owns 1,666 shares of the medical research company’s stock worth $537,000 after purchasing an additional 104 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Amgen by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 2,156,091 shares of the medical research company’s stock worth $699,910,000 after buying an additional 76,798 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

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.