UBS Group Issues Pessimistic Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price target cut by investment analysts at UBS Group from $335.00 to $326.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. UBS Group’s price objective points to a potential upside of 2.12% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Barclays lifted their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Robert W. Baird reiterated an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $333.50.

Amgen Price Performance

Amgen stock opened at $319.22 on Thursday. Amgen has a 12-month low of $260.52 and a 12-month high of $346.85. The stock has a market cap of $171.53 billion, a P/E ratio of 40.87, a PEG ratio of 2.84 and a beta of 0.61. The company has a 50-day moving average price of $324.47 and a 200 day moving average price of $315.19. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last released 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 net margin of 13.00% and a return on equity of 181.58%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period last year, the business earned $4.96 earnings per share. Amgen’s revenue was up 23.2% compared to the same quarter last year. Sell-side analysts anticipate that Amgen will post 19.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after purchasing an additional 5,923,915 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after buying an additional 3,045,657 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after buying an additional 1,377,007 shares in 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.