Amgen (NASDAQ:AMGN) PT Raised to $238.00

Amgen (NASDAQ:AMGN) had its price objective increased by SVB Leerink from $230.00 to $238.00 in a research note released on Monday, The Fly reports. They currently have a market perform rating on the medical research company’s stock. SVB Leerink also issued estimates for Amgen’s FY2022 earnings at $16.66 EPS, FY2023 earnings at $18.29 EPS, FY2024 earnings at $19.92 EPS and FY2025 earnings at $21.91 EPS.

A number of other analysts have also commented on the stock. Credit Suisse Group decreased their price target on shares of Amgen from $265.00 to $259.00 and set an outperform rating for the company in a research note on Wednesday, April 28th. Atlantic Securities reiterated an underweight rating and issued a $200.00 target price on shares of Amgen in a research note on Tuesday, May 4th. Royal Bank of Canada reduced their target price on shares of Amgen from $220.00 to $217.00 and set a sector perform rating for the company in a research note on Wednesday, April 28th. Oppenheimer upped their target price on shares of Amgen from $272.00 to $277.00 and gave the stock an outperform rating in a research note on Monday. Finally, Robert W. Baird reiterated a sell rating on shares of Amgen in a research note on Thursday, April 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $256.81.

Shares of AMGN stock opened at $244.64 on Monday. The company has a market cap of $140.56 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.73 and a beta of 0.72. The company’s fifty day simple moving average is $247.24. The company has a quick ratio of 1.34, a current ratio of 1.66 and a debt-to-equity ratio of 3.34. Amgen has a 12 month low of $210.28 and a 12 month high of $276.69.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Monday, April 26th. The medical research company reported $3.70 EPS for the quarter, missing the Zacks’ consensus estimate of $4.05 by ($0.35). The business had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.30 billion. Amgen had a net margin of 28.16% and a return on equity of 93.84%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.17 EPS. Research analysts anticipate that Amgen will post 16.35 EPS for the current year.

In other Amgen news, SVP Nancy A. Grygiel sold 2,500 shares of the company’s stock in a transaction dated Tuesday, May 11th. The shares were sold at an average price of $252.51, for a total transaction of $631,275.00. Following the sale, the senior vice president now directly owns 14,961 shares of the company’s stock, valued at $3,777,802.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ronald D. Sugar sold 1,000 shares of the company’s stock in a transaction dated Wednesday, April 14th. The shares were sold at an average price of $249.98, for a total transaction of $249,980.00. Following the sale, the director now directly owns 16,927 shares in the company, valued at $4,231,411.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,750 shares of company stock worth $1,194,790. Insiders own 0.36% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMGN. Moody Lynn & Lieberson LLC grew its position in Amgen by 2.6% during the first quarter. Moody Lynn & Lieberson LLC now owns 1,565 shares of the medical research company’s stock valued at $389,000 after acquiring an additional 40 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. grew its position in Amgen by 0.8% during the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 4,986 shares of the medical research company’s stock valued at $1,241,000 after acquiring an additional 40 shares during the last quarter. Lederer & Associates Investment Counsel CA grew its position in Amgen by 0.4% during the first quarter. Lederer & Associates Investment Counsel CA now owns 10,280 shares of the medical research company’s stock valued at $2,558,000 after acquiring an additional 41 shares during the last quarter. Colonial Trust Advisors grew its position in Amgen by 2.0% during the first quarter. Colonial Trust Advisors now owns 2,091 shares of the medical research company’s stock valued at $520,000 after acquiring an additional 41 shares during the last quarter. Finally, Wealth Dimensions Group Ltd. grew its position in Amgen by 1.0% during the first quarter. Wealth Dimensions Group Ltd. now owns 3,965 shares of the medical research company’s stock valued at $987,000 after acquiring an additional 41 shares during the last quarter. 75.31% of the stock is currently owned by institutional investors and hedge funds.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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