Amgen (NASDAQ:AMGN) Reaches New 12-Month High at $329.82

Amgen Inc. (NASDAQ:AMGN) reached a new 52-week high on Friday . The stock traded as high as $329.82 and last traded at $326.64, with a volume of 71152 shares. The stock had previously closed at $325.09.

Analysts Set New Price Targets

Several research firms have weighed in on AMGN. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. BMO Capital Markets lifted their target price on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Mizuho lifted their target price on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Royal Bank of Canada lifted their target price on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Finally, Argus lifted their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $307.00.

Amgen Stock Performance

The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The stock has a fifty day moving average price of $308.79 and a 200-day moving average price of $294.36. The firm has a market capitalization of $175.28 billion, a price-to-earnings ratio of 46.84, a PEG ratio of 2.91 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. During the same period in the prior year, the firm posted $3.98 EPS. Amgen’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. R.H. Dinel Investment Counsel Inc. boosted its position in Amgen by 6.2% in the 2nd quarter. R.H. Dinel Investment Counsel Inc. now owns 23,050 shares of the medical research company’s stock valued at $7,202,000 after buying an additional 1,350 shares during the last quarter. Orrstown Financial Services Inc. boosted its position in shares of Amgen by 2.7% in the 2nd quarter. Orrstown Financial Services Inc. now owns 1,538 shares of the medical research company’s stock worth $481,000 after purchasing an additional 40 shares during the last quarter. CCM Investment Advisers LLC bought a new position in shares of Amgen in the 2nd quarter worth $219,000. BDF Gestion bought a new position in shares of Amgen in the 2nd quarter worth $7,459,000. Finally, U.S. Capital Wealth Advisors LLC boosted its position in shares of Amgen by 0.4% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 21,785 shares of the medical research company’s stock worth $6,807,000 after purchasing an additional 89 shares during the last quarter. 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.