Amgen (NASDAQ:AMGN) Lowered to “Buy” Rating by StockNews.com

Amgen (NASDAQ:AMGNGet Free Report) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

A number of other equities analysts also recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Barclays boosted their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Bank of America boosted their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Finally, Citigroup reduced their target price on shares of Amgen from $335.00 to $310.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and an average target price of $323.05.

View Our Latest Analysis on Amgen

Amgen Stock Up 0.0 %

Shares of AMGN stock traded up $0.06 on Thursday, hitting $280.07. The stock had a trading volume of 6,622,004 shares, compared to its average volume of 2,568,796. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business has a 50 day moving average price of $312.46 and a 200 day moving average price of $317.31. The company has a market cap of $150.55 billion, a PE ratio of 35.86, a P/E/G ratio of 2.62 and a beta of 0.60. Amgen has a one year low of $257.80 and a one year high of $346.85.

Amgen (NASDAQ:AMGNGet Free Report) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.96 earnings per share. Research analysts anticipate that Amgen will post 19.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amgen

Several hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its position in Amgen by 1.2% in the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares in the last quarter. Geode Capital Management LLC boosted its position in Amgen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after purchasing an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amgen by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after purchasing an additional 251,876 shares in the last quarter. Janus Henderson Group PLC boosted its position in Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after purchasing an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its position in 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 worth $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

About Amgen

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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