Amgen (NASDAQ:AMGN) Receives Overweight Rating from Piper Sandler Companies

Amgen (NASDAQ:AMGN)‘s stock had its “overweight” rating restated by research analysts at Piper Sandler Companies in a research note issued on Thursday, Stock Target Advisor reports. They presently have a $310.00 target price on the medical research company’s stock. Piper Sandler Companies’ target price suggests a potential upside of 18.67% from the stock’s current price.

A number of other equities analysts have also commented on AMGN. Citigroup cut their price target on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and increased their price objective for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Leerink Partners decreased their target price on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, UBS Group dropped their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus price target of $318.83.

Amgen Trading Up 0.7 %

Shares of Amgen stock opened at $261.22 on Thursday. Amgen has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a fifty day moving average price of $285.75 and a 200-day moving average price of $310.70. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a market cap of $140.41 billion, a PE ratio of 33.45, a P/E/G ratio of 2.91 and a beta of 0.55.

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

Institutional Investors Weigh In On Amgen

Several hedge funds have recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new stake in Amgen during the 3rd quarter valued at $25,000. Strategic Financial Concepts LLC purchased a new position in Amgen in the second quarter worth about $26,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the third quarter valued at approximately $29,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen during the 2nd quarter worth $30,000. Finally, nVerses Capital LLC bought a new stake in Amgen during the second quarter valued at about $31,000. 76.50% of the stock is owned by institutional investors.

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.