Amgen (NASDAQ:AMGN) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Amgen (NASDAQ:AMGN) from a hold rating to a buy rating in a report released on Saturday, BidAskClub reports.

Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Amgen from a hold rating to a buy rating and set a $240.00 target price for the company in a research note on Wednesday, April 15th. BMO Capital Markets increased their target price on shares of Amgen from $274.00 to $291.00 and gave the stock an outperform rating in a research note on Friday, May 1st. Wells Fargo & Co increased their target price on shares of Amgen from $220.00 to $237.00 and gave the stock an equal weight rating in a research note on Friday, May 1st. Piper Sandler increased their target price on shares of Amgen from $235.00 to $255.00 and gave the stock an overweight rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Amgen from $219.00 to $225.00 and gave the stock a neutral rating in a research note on Thursday, June 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have given a buy rating to the company. Amgen presently has an average rating of Buy and a consensus target price of $245.85.

NASDAQ AMGN opened at $235.86 on Friday. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.59 and a quick ratio of 1.28. Amgen has a 1 year low of $173.12 and a 1 year high of $244.99. The company has a market capitalization of $136.97 billion, a PE ratio of 18.48, a P/E/G ratio of 1.99 and a beta of 0.94. The company has a fifty day moving average of $229.23 and a two-hundred day moving average of $225.31.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, April 30th. The medical research company reported $4.17 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.47. Amgen had a net margin of 32.03% and a return on equity of 90.75%. The business had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter in the prior year, the firm earned $3.56 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, research analysts expect that Amgen will post 15.56 earnings per share for the current year.

In other Amgen news, Director Ronald D. Sugar sold 1,000 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $228.54, for a total value of $228,540.00. Following the completion of the transaction, the director now directly owns 16,576 shares of the company’s stock, valued at $3,788,279.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director R Sanders Williams sold 425 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $237.31, for a total transaction of $100,856.75. Following the completion of the transaction, the director now directly owns 5,834 shares of the company’s stock, valued at $1,384,466.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,425 shares of company stock valued at $792,017. 0.36% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. New England Research & Management Inc. increased its stake in shares of Amgen by 55.0% during the 1st quarter. New England Research & Management Inc. now owns 1,479 shares of the medical research company’s stock worth $300,000 after purchasing an additional 525 shares in the last quarter. Chelsea Counsel Co. increased its stake in shares of Amgen by 1.0% during the 1st quarter. Chelsea Counsel Co. now owns 18,950 shares of the medical research company’s stock worth $3,842,000 after purchasing an additional 190 shares in the last quarter. Pathstone Family Office LLC increased its stake in shares of Amgen by 18.7% during the 1st quarter. Pathstone Family Office LLC now owns 5,532 shares of the medical research company’s stock worth $1,122,000 after purchasing an additional 871 shares in the last quarter. Core Alternative Capital increased its stake in shares of Amgen by 113.5% during the 1st quarter. Core Alternative Capital now owns 23,497 shares of the medical research company’s stock worth $4,764,000 after purchasing an additional 12,491 shares in the last quarter. Finally, Hayden Royal LLC increased its stake in shares of Amgen by 3.8% during the 1st quarter. Hayden Royal LLC now owns 3,043 shares of the medical research company’s stock worth $617,000 after purchasing an additional 111 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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