Amgen (NASDAQ:AMGN - Get Free Report)'s stock had its "underperform" rating reaffirmed by analysts at Bank of America in a report released on Tuesday, MarketBeat Ratings reports. They presently have a $256.00 target price on the medical research company's stock. Bank of America's price objective suggests a potential downside of 7.16% from the stock's previous close.
Several other analysts have also issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Truist Financial lowered shares of Amgen from a "buy" rating to a "hold" rating and increased their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. TD Cowen increased their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Citigroup reduced their price target on shares of Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $319.68.
Check Out Our Latest Stock Analysis on Amgen
Amgen Stock Performance
Shares of AMGN traded down $1.88 during mid-day trading on Tuesday, hitting $275.75. 2,790,641 shares of the company's stock were exchanged, compared to its average volume of 2,607,342. Amgen has a 52 week low of $257.80 and a 52 week high of $346.85. The stock's 50-day simple moving average is $305.69 and its 200-day simple moving average is $315.66. The firm has a market cap of $148.22 billion, a price-to-earnings ratio of 35.31, a price-to-earnings-growth ratio of 3.02 and a beta of 0.55. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.
Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.50 billion. During the same period last year, the firm earned $4.96 earnings per share. The business's revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities research analysts expect that Amgen will post 19.51 EPS for the current year.
Hedge Funds Weigh In On Amgen
Hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in Amgen during the third quarter worth $25,000. Strategic Financial Concepts LLC bought a new stake in Amgen in the second quarter valued at $26,000. Legacy Investment Solutions LLC bought a new stake in Amgen in the third quarter valued at $29,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the second quarter valued at $30,000. Finally, nVerses Capital LLC bought a new stake in Amgen in the second quarter valued at $31,000. Institutional investors own 76.50% of the company's stock.
Amgen Company Profile
(
Get Free Report)
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.
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