Amgen Inc. (NASDAQ:AMGN) Receives $307.82 Average Target Price from Brokerages

Amgen Inc. (NASDAQ:AMGN - Get Free Report) has been assigned an average recommendation of "Hold" from the twenty-three analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $307.82.

A number of research firms have commented on AMGN. Mizuho lifted their target price on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Johnson Rice set a $294.00 price target on shares of Amgen in a research note on Wednesday, March 5th. Bank of America increased their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley restated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd.

Amgen Stock Up 0.8%

Shares of NASDAQ AMGN traded up $2.08 on Monday, reaching $279.21. 2,945,203 shares of the company's stock traded hands, compared to its average volume of 2,830,768. The business's 50 day simple moving average is $281.02 and its two-hundred day simple moving average is $286.19. Amgen has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a market cap of $150.13 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 2.51 and a beta of 0.51. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70.

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

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares in the company, valued at approximately $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 accessible through the SEC website. Corporate insiders own 0.69% of the company's stock.

Hedge Funds Weigh In On Amgen

A number of hedge funds have recently made changes to their positions in the business. Beck Mack & Oliver LLC lifted its holdings in Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock worth $1,205,000 after purchasing an additional 34 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after buying an additional 35 shares in the last quarter. Octavia Wealth Advisors LLC boosted its position in shares of Amgen by 1.5% during the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after acquiring an additional 35 shares during the last quarter. Trillium Asset Management LLC grew its stake in Amgen by 4.2% during the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock valued at $237,000 after acquiring an additional 37 shares in the last quarter. Finally, Affinity Capital Advisors LLC increased its holdings in Amgen by 4.5% in the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock valued at $246,000 after acquiring an additional 37 shares during the last quarter. Institutional investors 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.