Amgen (NASDAQ:AMGN) Upgraded to "Strong-Buy" at StockNews.com

Amgen (NASDAQ:AMGN - Get Free Report) was upgraded by StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday.

A number of other brokerages also recently commented on AMGN. Truist Financial reduced their price target on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Piper Sandler increased their target price on Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Piper Sandler Companies restated an "overweight" rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Citigroup reiterated a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, UBS Group reissued a "hold" rating on shares of Amgen in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Amgen presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.04.

Amgen Stock Down 0.4 %

Amgen stock traded down $1.22 during midday trading on Friday, hitting $305.70. 1,909,019 shares of the company were exchanged, compared to its average volume of 2,707,039. The company has a market cap of $164.22 billion, a PE ratio of 40.49, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company's fifty day moving average price is $303.16 and its 200-day moving average price is $297.69. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

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Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping 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%. On average, research analysts predict that Amgen will post 20.62 EPS for the current fiscal year.

Insider Activity

In other news, EVP David M. Reese sold 8,711 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the completion of the sale, the executive vice president now directly owns 62,147 shares of the company's stock, valued at $18,222,743.34. This trade represents a 12.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 over the last three months. Corporate insiders own 0.69% of the company's stock.

Institutional Trading of Amgen

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Beck Mack & Oliver LLC boosted its position in shares of Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock worth $1,205,000 after buying an additional 34 shares during the period. Continuum Advisory LLC increased its position in Amgen by 0.7% in the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after purchasing an additional 35 shares during the last quarter. Blossom Wealth Management raised its stake in shares of Amgen by 3.5% during the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company's stock worth $284,000 after purchasing an additional 37 shares in the last quarter. Zullo Investment Group Inc. lifted its holdings in shares of Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock valued at $356,000 after buying an additional 37 shares during the last quarter. Finally, Trillium Asset Management LLC grew its stake in shares of Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock valued at $237,000 after buying an additional 37 shares in 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.