Amgen (NASDAQ:AMGN) Receives Underperform Rating from Robert W. Baird

Amgen (NASDAQ:AMGN)‘s stock had its “underperform” rating restated by analysts at Robert W. Baird in a research report issued on Wednesday, Benzinga reports. They presently have a $215.00 price objective on the medical research company’s stock. Robert W. Baird’s price target would indicate a potential downside of 31.78% from the company’s previous close.

A number of other analysts have also recently weighed in on AMGN. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Argus boosted their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Bank of America boosted their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $321.37.

Amgen Trading Down 4.8 %

Shares of NASDAQ AMGN traded down $15.75 during trading on Wednesday, hitting $315.17. 1,008,946 shares of the company traded hands, compared to its average volume of 2,491,990. Amgen has a 1 year low of $249.70 and a 1 year high of $346.85. The company has a 50-day moving average price of $329.63 and a 200-day moving average price of $306.87. The firm has a market capitalization of $169.35 billion, a P/E ratio of 45.11, a P/E/G ratio of 2.98 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the prior year, the firm earned $5.00 earnings per share. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. On average, equities analysts predict that Amgen will post 19.49 EPS for the current year.

Institutional Trading of Amgen

Several hedge funds have recently added to or reduced their stakes in AMGN. Hershey Financial Advisers LLC bought a new position in Amgen during the second quarter valued at about $30,000. United Community Bank bought a new stake in shares of Amgen during the fourth quarter valued at approximately $29,000. Horizon Financial Services LLC acquired a new stake in Amgen in the 1st quarter valued at $28,000. nVerses Capital LLC acquired a new stake in Amgen in the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Amgen in the 2nd quarter valued at $33,000. 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.