Amgen’s (AMGN) Overweight Rating Reiterated at Piper Sandler

by · The Cerbat Gem

Piper Sandler reiterated their overweight rating on shares of Amgen (NASDAQ:AMGN – Free Report) in a research report report published on Friday morning,Benzinga reports. They currently have a $328.00 price objective on the medical research company’s stock.

Other equities research analysts also recently issued reports about the company. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Royal Bank Of Canada reduced their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $307.82.

Read Our Latest Research Report on AMGN

Amgen Trading Down 0.7%

NASDAQ:AMGN opened at $277.13 on Friday. The firm has a market cap of $149.02 billion, a P/E ratio of 25.29, a PEG ratio of 2.51 and a beta of 0.51. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The stock’s 50 day simple moving average is $281.02 and its 200-day simple moving average is $286.19. Amgen has a 12-month low of $253.30 and a 12-month high of $346.85.

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

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen 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 completion of the transaction, the senior vice president now owns 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amgen

Institutional investors have recently made changes to their positions in the stock. KPP Advisory Services LLC raised its position in Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after purchasing an additional 2,716 shares in the last quarter. Advisor Resource Council acquired a new position in Amgen during the first quarter valued at approximately $1,331,000. Fisher Asset Management LLC raised its position in Amgen by 285.4% during the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company’s stock valued at $102,820,000 after purchasing an additional 292,137 shares in the last quarter. DLK Investment Management LLC raised its position in Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after purchasing an additional 1,387 shares in the last quarter. Finally, Aire Advisors LLC raised its position in Amgen by 26.3% during the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock valued at $3,461,000 after purchasing an additional 2,762 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Company Profile

(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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