UBS Group Issues Pessimistic Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price target decreased by investment analysts at UBS Group from $335.00 to $326.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. UBS Group’s price objective would indicate a potential upside of 2.12% from the company’s previous close.

Several other research firms have also weighed in on AMGN. Oppenheimer reissued an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Morgan Stanley reduced their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and upped their price objective for the company from $320.00 to $333.00 in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Stock Down 0.3 %

Amgen stock opened at $319.22 on Thursday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The firm has a market capitalization of $171.53 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 2.84 and a beta of 0.61. Amgen has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The stock’s fifty day moving average is $324.47 and its two-hundred day moving average is $315.19.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 181.58% and a net margin of 13.00%. Amgen’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.96 earnings per share. Analysts predict that Amgen will post 19.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP acquired a new stake in shares of Amgen in the third quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen in the second quarter valued at about $26,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the second quarter valued at about $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen in the second quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen in the second quarter valued at about $33,000. 76.50% of the stock is currently 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.