Amgen Inc. (NASDAQ:AMGN) Given Consensus Recommendation of "Hold" by Brokerages

Amgen Inc. (NASDAQ:AMGN - Get Free Report) has been assigned an average rating of "Hold" from the twenty-four ratings firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $309.22.

Several analysts have recently issued reports on the company. Citigroup reiterated a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Cantor Fitzgerald assumed coverage on Amgen in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price target for the company. Piper Sandler decreased their price target on Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Mizuho upped their price target on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, UBS Group reiterated a "neutral" rating and set a $315.00 price target (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd.

Hedge Funds Weigh In On Amgen

Several large investors have recently added to or reduced their stakes in AMGN. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen in the 1st quarter worth approximately $25,000. First Pacific Financial raised its holdings in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in shares of 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 worth $29,000 after buying an additional 85 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Amgen in the 4th quarter worth approximately $25,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of Amgen in the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Up 0.0%

Shares of AMGN stock traded up $0.09 on Thursday, reaching $287.10. 2,521,343 shares of the company's stock traded hands, compared to its average volume of 2,809,728. Amgen has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market capitalization of $154.38 billion, a P/E ratio of 38.03, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The business's 50 day moving average price is $282.39 and its two-hundred day moving average price is $285.31.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the previous year, the company posted $3.96 earnings per share. The business's quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that Amgen will post 20.62 earnings per share for the current year.

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.