Amgen (NASDAQ:AMGN) Stock Rating Reaffirmed by Cantor Fitzgerald

Amgen (NASDAQ:AMGN)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a research note issued on Tuesday, Benzinga reports. They currently have a $405.00 price target on the medical research company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 28.41% from the stock’s current price.

A number of other analysts have also issued reports on AMGN. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Bank of America increased their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Argus increased their price objective on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. Finally, Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Stock Down 0.4 %

Shares of AMGN traded down $1.34 during mid-day trading on Tuesday, reaching $315.40. The company’s stock had a trading volume of 217,633 shares, compared to its average volume of 2,432,559. The business has a fifty day moving average of $326.00 and a 200 day moving average of $312.76. The company has a market cap of $169.19 billion, a price-to-earnings ratio of 45.06, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen has a 1 year low of $249.70 and a 1 year high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.00 EPS. As a group, analysts forecast that Amgen will post 19.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amgen

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Keynote Financial Services LLC grew its position in shares of Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares during the last quarter. Ascent Group LLC grew its position in shares of Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after purchasing an additional 31 shares during the last quarter. RFP Financial Group LLC grew its position in shares of Amgen by 17.1% in the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 32 shares during the last quarter. Hofer & Associates. Inc grew its position in shares of Amgen by 0.5% in the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after purchasing an additional 32 shares during the last quarter. Finally, Cadinha & Co. LLC grew its position in shares of Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 32 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

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.