Amgen (NASDAQ:AMGN) Price Target Lowered to $326.00 at UBS Group

by · The Markets Daily

Amgen (NASDAQ:AMGN – Get Free Report) had its price target decreased by equities research analysts at UBS Group from $335.00 to $326.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. UBS Group’s price target suggests a potential upside of 1.16% from the company’s current price.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Sanford C. Bernstein began coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Morgan Stanley dropped their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus price target of $333.50.

View Our Latest Report on AMGN

Amgen Trading Up 2.1 %

NASDAQ:AMGN traded up $6.71 on Thursday, reaching $322.25. The company’s stock had a trading volume of 1,435,180 shares, compared to its average volume of 2,414,835. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The firm has a market cap of $172.87 billion, a PE ratio of 45.97, a PEG ratio of 2.86 and a beta of 0.61. The business’s 50-day moving average price is $324.75 and its two-hundred day moving average price is $314.78. Amgen has a 1-year low of $249.70 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.96 earnings per share. Equities research analysts anticipate that Amgen will post 19.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amgen

A number of hedge funds and other institutional investors have recently modified their holdings of AMGN. Vanguard Group Inc. grew its holdings in shares of Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Capital International Investors grew its holdings in Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Amgen by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock valued at $844,137,000 after acquiring an additional 162,223 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More