Brokerages Set Amgen Inc. (NASDAQ:AMGN) Price Target at $307.27

Shares of Amgen Inc. (NASDAQ:AMGN - Get Free Report) have received an average recommendation of "Hold" from the twenty-three research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $307.27.

A number of brokerages have recently commented on AMGN. Bank of America lifted their price target on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. UBS Group boosted their target price on shares of Amgen from $315.00 to $326.00 and gave the company a "neutral" rating in a report on Monday. Citigroup boosted their target price on shares of Amgen from $300.00 to $305.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th.

Amgen Trading Down 0.6%

Shares of NASDAQ AMGN traded down $1.97 during midday trading on Friday, reaching $306.58. 1,451,093 shares of the stock were exchanged, compared to its average volume of 1,935,961. The company has a market capitalization of $164.85 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.67 and a beta of 0.49. Amgen has a 52-week low of $253.30 and a 52-week high of $340.89. 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 has a 50 day moving average price of $289.39 and a 200-day moving average price of $290.70.

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

Insider Buying and Selling at Amgen

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMGN. Wealth Preservation Advisors LLC bought a new stake in Amgen in the 1st quarter valued at about $25,000. Pinney & Scofield Inc. bought a new stake in Amgen in the 4th quarter valued at about $26,000. First Pacific Financial lifted its position in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its position in Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after purchasing an additional 85 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE lifted its position in Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Company Profile

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.