Amgen Inc. (NASDAQ:AMGN) Receives $312.63 Average Price Target from Brokerages

Shares of Amgen Inc. (NASDAQ:AMGN) have received a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the firm, Marketbeat reports. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $312.63.

Several equities analysts have weighed in on the company. TD Cowen dropped their target price on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. UBS Group upped their price objective on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Raymond James initiated coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company.

Amgen Price Performance

NASDAQ:AMGN opened at $331.29 on Monday. The company has a market capitalization of $177.71 billion, a P/E ratio of 47.33, a P/E/G ratio of 3.00 and a beta of 0.58. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen has a 52 week low of $228.21 and a 52 week high of $338.98. The stock’s fifty day moving average is $311.81 and its two-hundred day moving average is $296.22.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. Amgen’s revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.98 earnings per share. Equities analysts expect that Amgen will post 19.48 EPS for the current year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. ZWJ Investment Counsel Inc. lifted its stake in shares of Amgen by 3.5% in the second quarter. ZWJ Investment Counsel Inc. now owns 7,764 shares of the medical research company’s stock valued at $2,426,000 after purchasing an additional 262 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of Amgen by 0.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 58,897 shares of the medical research company’s stock worth $18,403,000 after acquiring an additional 416 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Amgen by 2.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 479,325 shares of the medical research company’s stock valued at $149,765,000 after purchasing an additional 11,589 shares in the last quarter. Zhang Financial LLC boosted its position in Amgen by 1.1% during the second quarter. Zhang Financial LLC now owns 14,950 shares of the medical research company’s stock worth $4,671,000 after purchasing an additional 161 shares in the last quarter. Finally, Central Bank & Trust Co. grew its holdings in Amgen by 4.2% in the second quarter. Central Bank & Trust Co. now owns 30,138 shares of the medical research company’s stock valued at $9,416,000 after purchasing an additional 1,223 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

About Amgen

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.