StockNews.com Downgrades Amgen (NASDAQ:AMGN) to Buy

Amgen (NASDAQ:AMGN) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

Other equities analysts have also issued reports about the company. Wolfe Research started coverage on Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and upped their price target for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Leerink Partners cut their target price on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Finally, TD Cowen raised their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $319.68.

Amgen Stock Up 0.9 %

Shares of Amgen stock opened at $261.19 on Wednesday. Amgen has a 12-month low of $253.30 and a 12-month high of $346.85. 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 stock has a 50 day moving average price of $297.50 and a two-hundred day moving average price of $313.58. The stock has a market capitalization of $140.40 billion, a P/E ratio of 33.44, a PEG ratio of 2.91 and a beta of 0.55.

Amgen (NASDAQ:AMGN) last posted 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. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.96 EPS. Equities analysts expect that Amgen will post 19.53 earnings per share for the current year.

Institutional Trading of Amgen

Large investors have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in Amgen during the 3rd quarter worth about $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Amgen during the second quarter valued at approximately $26,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the third quarter valued at approximately $29,000. Hershey Financial Advisers LLC bought a new position in Amgen in the 2nd quarter worth approximately $30,000. Finally, nVerses Capital LLC acquired a new position in Amgen during the 2nd quarter worth $31,000. 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.