Brokerages Set Amgen Inc. (NASDAQ:AMGN) Target Price at $243.93

Shares of Amgen Inc. (NASDAQ:AMGNGet Rating) have earned an average recommendation of “Hold” from the eighteen analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $244.36.

A number of equities research analysts have weighed in on AMGN shares. Oppenheimer cut shares of Amgen to an “outperform” rating and set a $285.00 price target for the company. in a research report on Tuesday, May 3rd. Jefferies Financial Group lifted their price target on shares of Amgen from $266.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, February 9th. Piper Sandler lifted their price objective on shares of Amgen from $255.00 to $260.00 in a report on Thursday, April 28th. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Amgen from $210.00 to $250.00 and gave the company an “equal weight” rating in a report on Wednesday, February 9th.

In other news, EVP Jonathan P. Graham sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $241.81, for a total transaction of $3,264,435.00. Following the completion of the sale, the executive vice president now owns 37,333 shares in the company, valued at approximately $9,027,492.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of AMGN. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in Amgen in the 4th quarter valued at $26,000. Rational Advisors LLC purchased a new stake in Amgen in the 1st quarter valued at $26,000. Norwood Financial Corp purchased a new stake in Amgen in the 4th quarter valued at $28,000. Landmark Wealth Management LLC purchased a new stake in Amgen in the 1st quarter valued at $28,000. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in Amgen in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 79.01% of the company’s stock.

AMGN stock traded down $1.32 during trading on Friday, reaching $243.40. 2,631,841 shares of the stock were exchanged, compared to its average volume of 3,190,039. The company has a current ratio of 1.44, a quick ratio of 1.09 and a debt-to-equity ratio of 39.31. The business has a 50 day moving average price of $241.68 and a 200-day moving average price of $227.53. Amgen has a 1 year low of $198.64 and a 1 year high of $258.45. The firm has a market capitalization of $130.02 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 1.67 and a beta of 0.58.

Amgen (NASDAQ:AMGNGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The medical research company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.22 by $0.03. Amgen had a net margin of 21.75% and a return on equity of 165.95%. The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.09 billion. During the same period last year, the business earned $3.70 earnings per share. On average, research analysts anticipate that Amgen will post 17.49 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 8th. Stockholders of record on Tuesday, May 17th will be given a dividend of $1.94 per share. The ex-dividend date of this dividend is Monday, May 16th. This represents a $7.76 annualized dividend and a dividend yield of 3.19%. Amgen’s dividend payout ratio is presently 76.38%.

About Amgen (Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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