Amgen (NASDAQ:AMGN) Coverage Initiated at Wolfe Research

Analysts at Wolfe Research initiated coverage on shares of Amgen (NASDAQ:AMGN) in a report released on Friday, Marketbeat Ratings reports. The brokerage set a “peer perform” rating on the medical research company’s stock.

A number of other research analysts also recently commented on AMGN. Oppenheimer restated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. UBS Group dropped their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target on shares of Amgen in a research note on Tuesday. Finally, Sanford C. Bernstein initiated coverage on shares of Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Performance

Shares of Amgen stock opened at $295.93 on Friday. Amgen has a 12 month low of $260.52 and a 12 month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock has a market cap of $159.07 billion, a PE ratio of 37.89, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. The business has a fifty day simple moving average of $322.15 and a 200-day simple moving average of $318.15.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the company posted $4.96 EPS. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Amgen will post 19.51 EPS for the current fiscal year.

Institutional Trading of Amgen

Several institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Amgen in the third quarter valued at about $25,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen in the 2nd quarter valued at approximately $30,000. nVerses Capital LLC acquired a new position in shares of Amgen in the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the 2nd quarter worth approximately $33,000. Finally, Matrix Trust Co acquired a new stake in Amgen in the 3rd quarter valued at $36,000. 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.