Amgen (NASDAQ:AMGN) Coverage Initiated at Raymond James

Equities researchers at Raymond James began coverage on shares of Amgen (NASDAQ:AMGN) in a report released on Thursday, StockNewsAPI reports. The brokerage set a “market perform” rating on the medical research company’s stock.

AMGN has been the topic of a number of other research reports. Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. UBS Group lowered their target price on Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. Oppenheimer reiterated an “outperform” rating and set a $350.00 price target on shares of Amgen in a research note on Thursday, February 1st. Royal Bank of Canada upped their price target on Amgen from $303.00 to $329.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Truist Financial reiterated a “buy” rating and set a $320.00 price target on shares of Amgen in a research note on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $295.30.

Amgen Stock Performance

NASDAQ:AMGN traded up $0.84 during midday trading on Thursday, reaching $287.14. 170,321 shares of the company traded hands, compared to its average volume of 3,005,920. Amgen has a twelve month low of $211.71 and a twelve month high of $329.72. The firm has a market capitalization of $153.88 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 2.66 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The company has a fifty day moving average price of $290.44 and a 200 day moving average price of $280.66.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the previous year, the business earned $4.09 EPS. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, analysts expect that Amgen will post 19.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Briaud Financial Planning Inc acquired a new stake in Amgen in the third quarter valued at $26,000. BOK Financial Private Wealth Inc. acquired a new stake in Amgen in the fourth quarter valued at $29,000. United Community Bank acquired a new stake in Amgen in the fourth quarter valued at $29,000. Dagco Inc. acquired a new stake in Amgen in the fourth quarter valued at $29,000. Finally, OFI Invest Asset Management acquired a new stake in Amgen in the third quarter valued at $26,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

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.