Amgen (NASDAQ:AMGN) PT Lowered to $360.00

Amgen (NASDAQ:AMGN - Get Free Report) had its target price reduced by analysts at TD Cowen from $370.00 to $360.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the medical research company's stock. TD Cowen's target price indicates a potential upside of 36.33% from the company's current price.

A number of other equities analysts also recently commented on AMGN. Daiwa Capital Markets upgraded shares of Amgen from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $264.00 to $320.00 in a research report on Thursday, December 21st. The Goldman Sachs Group raised their price objective on shares of Amgen from $313.00 to $350.00 and gave the company a "buy" rating in a research report on Wednesday, February 7th. Oppenheimer reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Amgen in a report on Thursday, February 1st. Truist Financial reissued a "buy" rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Finally, UBS Group reduced their price target on Amgen from $315.00 to $314.00 and set a "neutral" rating for the company in a report on Monday, January 29th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $298.38.

Amgen Stock Performance

AMGN stock traded down $1.57 during trading on Wednesday, hitting $264.07. The company had a trading volume of 2,174,839 shares, compared to its average volume of 2,862,361. The firm has a 50-day moving average price of $278.62 and a 200-day moving average price of $281.49. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The firm has a market cap of $141.52 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 2.47 and a beta of 0.58. Amgen has a 1-year low of $211.71 and a 1-year high of $329.72.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same period last year, the business posted $4.09 EPS. The company's revenue was up 19.8% on a year-over-year basis. On average, analysts expect that Amgen will post 19.47 earnings per share for the current year.

Institutional Trading of Amgen

A number of large investors have recently made changes to their positions in AMGN. Cornerstone Wealth Group LLC raised its position in shares of Amgen by 876.8% in the first quarter. Cornerstone Wealth Group LLC now owns 12,493 shares of the medical research company's stock valued at $3,552,000 after buying an additional 11,214 shares during the last quarter. Merrion Investment Management Co LLC grew its stake in Amgen by 7.1% in the 1st quarter. Merrion Investment Management Co LLC now owns 2,643 shares of the medical research company's stock worth $751,000 after acquiring an additional 175 shares during the period. New Mexico Educational Retirement Board raised its holdings in Amgen by 18.0% in the 1st quarter. New Mexico Educational Retirement Board now owns 32,795 shares of the medical research company's stock valued at $9,324,000 after acquiring an additional 5,000 shares during the last quarter. Guidance Capital Inc. lifted its stake in shares of Amgen by 5.4% during the 1st quarter. Guidance Capital Inc. now owns 5,418 shares of the medical research company's stock worth $1,438,000 after purchasing an additional 279 shares during the period. Finally, Brown Miller Wealth Management LLC boosted its holdings in shares of Amgen by 1.1% during the first quarter. Brown Miller Wealth Management LLC now owns 6,703 shares of the medical research company's stock worth $1,905,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

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.