Amgen (NASDAQ:AMGN) PT Lowered to $284.00 at UBS Group

Amgen (NASDAQ:AMGN) had its target price decreased by stock analysts at UBS Group from $314.00 to $284.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. UBS Group’s price target would suggest a potential upside of 7.55% from the stock’s current price.

Several other brokerages also recently issued reports on AMGN. TD Cowen lowered their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday. Raymond James began coverage on shares of Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating for the company. Daiwa Capital Markets raised shares of Amgen from a “neutral” rating to a “buy” rating and increased their price objective for the company from $264.00 to $320.00 in a research report on Thursday, December 21st. StockNews.com cut Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Finally, BMO Capital Markets upgraded Amgen from a “market perform” rating to an “outperform” rating and increased their target price for the company from $286.00 to $326.00 in a research note on Tuesday, December 19th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $296.95.

Amgen Trading Down 0.6 %

NASDAQ AMGN opened at $264.07 on Wednesday. Amgen has a 12 month low of $211.71 and a 12 month high of $329.72. The company has a 50-day moving average of $277.99 and a 200-day moving average of $281.37. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The company has a market cap of $141.52 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.47 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.09 EPS. As a group, equities analysts predict that Amgen will post 19.46 earnings per share for the current year.

Institutional Investors Weigh In On Amgen

A number of hedge funds have recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new position in shares of Amgen during the third quarter valued at $26,000. Briaud Financial Planning Inc acquired a new position in shares of Amgen during the third quarter valued at $26,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Amgen during the first quarter valued at $28,000. BOK Financial Private Wealth Inc. acquired a new position in Amgen during the fourth quarter worth about $29,000. Finally, United Community Bank acquired a new position in Amgen during the fourth quarter worth about $29,000. 76.50% of the stock is currently 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.