Amgen (NASDAQ:AMGN) Earns Neutral Rating from Cantor Fitzgerald

Amgen (NASDAQ:AMGN)‘s stock had its “neutral” rating reiterated by stock analysts at Cantor Fitzgerald in a research note issued on Tuesday,Benzinga reports. They currently have a $305.00 target price on the medical research company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 11.95% from the stock’s current price.

A number of other research firms have also recently weighed in on AMGN. Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Royal Bank Of Canada lowered their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. UBS Group reiterated a “neutral” rating and issued a $315.00 price objective (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Bank of America raised their target price on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Finally, Piper Sandler lowered their target price on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and a consensus target price of $309.22.

Amgen Stock Down 5.8%

Shares of NASDAQ:AMGN opened at $272.44 on Tuesday. Amgen has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The company has a market cap of $146.49 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.62 and a beta of 0.51. The firm’s 50-day simple moving average is $281.39 and its 200-day simple moving average is $286.10.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the prior year, the company posted $3.96 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that Amgen will post 20.62 earnings per share for the current year.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after acquiring an additional 5,226 shares during the period. World Equity Group Inc. grew its stake in shares of Amgen by 19.7% during the 4th quarter. World Equity Group Inc. now owns 983 shares of the medical research company’s stock valued at $256,000 after buying an additional 162 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Amgen during the 4th quarter valued at $694,000. IFP Advisors Inc increased its stake in Amgen by 6.2% during the 4th quarter. IFP Advisors Inc now owns 6,102 shares of the medical research company’s stock worth $1,591,000 after buying an additional 357 shares during the period. Finally, Pine Valley Investments Ltd Liability Co grew its holdings in Amgen by 4.3% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 4,913 shares of the medical research company’s stock worth $1,280,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

About Amgen

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.