Amgen (NASDAQ:AMGN) Price Target Raised to $305.00

Amgen (NASDAQ:AMGN - Free Report) had its price target raised by Citigroup from $300.00 to $305.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the medical research company's stock.

Several other equities analysts have also recently weighed in on the company. Guggenheim began coverage on Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective for the company. Mizuho raised their target price on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Royal Bank Of Canada decreased their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, UBS Group upped their target price on Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Amgen presently has a consensus rating of "Hold" and an average price target of $308.77.

Amgen Trading Up 3.3%

Amgen stock traded up $9.82 during trading hours on Tuesday, reaching $305.69. 2,520,306 shares of the company's stock traded hands, compared to its average volume of 2,842,800. The firm has a market capitalization of $164.37 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 2.67 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. Amgen has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm's 50 day moving average is $285.90 and its 200-day moving average is $289.56.

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, topping the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion for 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 quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.96 EPS. On average, analysts predict that Amgen will post 20.62 earnings per share for the current year.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value 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. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.69% of the company's stock.

Institutional Investors Weigh In On Amgen

Several large investors have recently bought and sold shares of the business. Brighton Jones LLC raised its stake in shares of Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after acquiring an additional 5,226 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Amgen by 35.0% during the 4th quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock worth $471,000 after purchasing an additional 468 shares during the period. Quantbot Technologies LP raised its position in Amgen by 219.5% during the 4th quarter. Quantbot Technologies LP now owns 1,492 shares of the medical research company's stock valued at $389,000 after purchasing an additional 1,025 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Amgen in the 4th quarter worth $585,000. Finally, Dudley Capital Management LLC grew its position in shares of Amgen by 15.4% during the 4th quarter. Dudley Capital Management LLC now owns 1,085 shares of the medical research company's stock worth $283,000 after buying an additional 145 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

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.