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

Amgen (NASDAQ:AMGN - Free Report) had its price target lifted by Citigroup from $300.00 to $305.00 in a report published on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the medical research company's stock.

Other analysts also recently issued research reports about the stock. Guggenheim assumed coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target on the stock. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Mizuho upped their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, UBS Group upped their price objective on shares of Amgen from $315.00 to $326.00 and gave the company a "neutral" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Amgen has an average rating of "Hold" and a consensus target price of $307.27.

Amgen Stock Down 0.2%

Shares of Amgen stock traded down $0.67 during trading on Tuesday, hitting $308.55. 1,530,954 shares of the stock were exchanged, compared to its average volume of 2,956,043. The stock has a market cap of $165.91 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 2.76 and a beta of 0.49. The firm's 50-day moving average price is $287.97 and its 200 day moving average price is $290.04. 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 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data 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 net margin of 17.39% and a return on equity of 176.11%. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same period in the previous year, the business posted $3.96 earnings per share. Amgen's quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts forecast that Amgen will post 20.62 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The shares were 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 of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. KPP Advisory Services LLC boosted its holdings in shares of Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after purchasing an additional 2,716 shares during the period. Advisor Resource Council acquired a new stake in shares of Amgen during the first quarter worth approximately $1,331,000. DLK Investment Management LLC boosted its holdings in shares of Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after purchasing an additional 1,387 shares during the period. Aire Advisors LLC boosted its holdings in shares of Amgen by 26.3% during the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock worth $3,461,000 after purchasing an additional 2,762 shares during the period. Finally, Mariner LLC boosted its holdings in shares of Amgen by 2.2% during the fourth quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock worth $238,316,000 after purchasing an additional 19,250 shares during the period. 76.50% of the stock is owned by hedge funds and other 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.