Amgen’s (AMGN) “Hold” Rating Reaffirmed at Deutsche Bank Aktiengesellschaft

Amgen (NASDAQ:AMGN)‘s stock had its “hold” rating reissued by equities research analysts at Deutsche Bank Aktiengesellschaft in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $305.00 price objective on the medical research company’s stock, down from their prior price objective of $310.00. Deutsche Bank Aktiengesellschaft’s target price indicates a potential downside of 0.74% from the company’s current price.

Several other research analysts also recently weighed in on AMGN. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $320.00 to $335.00 in a research report on Wednesday. Mizuho boosted their price target on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Finally, TD Cowen lowered their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $325.79.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $21.69 during trading on Wednesday, hitting $307.26. The company had a trading volume of 2,474,137 shares, compared to its average volume of 2,637,363. The stock has a 50 day simple moving average of $317.26 and a 200 day simple moving average of $298.55. The firm has a market capitalization of $164.83 billion, a P/E ratio of 44.31, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. Amgen has a 12 month low of $248.38 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. Amgen’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.00 EPS. As a group, analysts anticipate that Amgen will post 19.5 earnings per share for the current year.

Institutional Investors Weigh In On Amgen

Several hedge funds and other institutional investors have recently made changes to their positions in AMGN. Capital International Investors grew its holdings in Amgen by 547.8% during the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares during the last quarter. Norges Bank purchased a new position in shares of Amgen during the fourth quarter valued at approximately $1,556,912,000. Vanguard Group Inc. grew its stake in shares of Amgen by 6.2% during the first 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 during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after buying an additional 1,377,007 shares during the period. Finally, Capital Wealth Planning LLC boosted its holdings in Amgen by 28,684.1% during the 1st quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock valued at $236,924,000 after acquiring an additional 830,405 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

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.