UBS Group Cuts Amgen (NASDAQ:AMGN) Price Target to $326.00

Amgen (NASDAQ:AMGNFree Report) had its target price cut by UBS Group from $335.00 to $326.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

AMGN has been the topic of several other research reports. TD Cowen increased their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Oppenheimer reiterated 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 restated a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Morgan Stanley dropped their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $333.50.

Get Our Latest Analysis on Amgen

Amgen Price Performance

Shares of AMGN opened at $319.22 on Thursday. Amgen has a 52 week low of $260.52 and a 52 week high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The firm has a market cap of $171.53 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.84 and a beta of 0.61. The stock has a 50 day moving average of $324.47 and a 200-day moving average of $315.54.

Amgen (NASDAQ:AMGNGet Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 181.58% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period last year, the business posted $4.96 earnings per share. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, analysts forecast that Amgen will post 19.48 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Hedge Funds Weigh In On Amgen

Several large investors have recently made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new stake in Amgen during the third quarter worth approximately $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Amgen during the 2nd quarter worth $26,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the 2nd quarter worth $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the second quarter worth $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the second quarter worth $33,000. Institutional investors own 76.50% of the company’s stock.

About Amgen

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.