Amgen’s (AMGN) “Outperform” Rating Reiterated at William Blair

by · The Cerbat Gem

William Blair restated their outperform rating on shares of Amgen (NASDAQ:AMGN – Free Report) in a research note issued to investors on Tuesday morning,RTT News reports.

AMGN has been the subject of several other research reports. Guggenheim initiated coverage on Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price objective for the company. Piper Sandler lowered their target price on Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Finally, UBS Group reiterated a “neutral” rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $309.22.

Read Our Latest Stock Analysis on Amgen

Amgen Stock Down 0.4%

Amgen stock opened at $279.11 on Tuesday. The firm has a market cap of $150.08 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 2.54 and a beta of 0.51. The stock has a fifty day simple moving average of $281.02 and a two-hundred day simple moving average of $286.01. Amgen has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70.

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

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. AG2R LA Mondiale Gestion D Actifs purchased a new position in Amgen in the 1st quarter worth $5,742,000. Swedbank AB raised its stake in Amgen by 19.3% in the 1st quarter. Swedbank AB now owns 673,412 shares of the medical research company’s stock worth $209,802,000 after acquiring an additional 109,031 shares during the last quarter. Voya Investment Management LLC raised its stake in Amgen by 30.3% in the 1st quarter. Voya Investment Management LLC now owns 575,980 shares of the medical research company’s stock worth $179,446,000 after acquiring an additional 133,777 shares during the last quarter. Howe & Rusling Inc. raised its stake in Amgen by 3.4% in the 1st quarter. Howe & Rusling Inc. now owns 5,046 shares of the medical research company’s stock worth $1,572,000 after acquiring an additional 166 shares during the last quarter. Finally, Compass Financial Services Inc raised its stake in Amgen by 14.4% in the 1st quarter. Compass Financial Services Inc now owns 301 shares of the medical research company’s stock worth $94,000 after acquiring an additional 38 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

About Amgen

(Get Free Report)

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.

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