StockNews.com Downgrades Amgen (NASDAQ:AMGN) to Buy

Amgen (NASDAQ:AMGN - Get Free Report) was downgraded by investment analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued on Thursday.

A number of other research analysts have also weighed in on the company. Citigroup reissued a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Piper Sandler increased their target price on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Bank of America lifted their price target on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Johnson Rice set a $294.00 price objective on shares of Amgen in a report on Wednesday, March 5th. Finally, Truist Financial lowered their target price on shares of Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $310.57.

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $4.72 on Thursday, hitting $278.40. The company had a trading volume of 2,078,936 shares, compared to its average volume of 2,789,469. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company has a market cap of $149.68 billion, a PE ratio of 36.87, a PEG ratio of 2.63 and a beta of 0.59. Amgen has a 52-week low of $253.30 and a 52-week high of $346.85. The business has a 50 day moving average of $302.25 and a 200 day moving average of $293.45.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, equities analysts anticipate that Amgen will post 20.62 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jonathan P. Graham sold 25,045 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares of the company's stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Centricity Wealth Management LLC bought a new stake in Amgen in the fourth quarter valued at about $25,000. Pinney & Scofield Inc. bought a new position in Amgen in the 4th quarter worth about $26,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of Amgen by 66.2% in the fourth 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 period. Synergy Investment Management LLC bought a new stake in shares of Amgen during the fourth quarter valued at approximately $34,000. Finally, Atala Financial Inc bought a new position in Amgen in the 4th quarter worth approximately $34,000. 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.