Amgen Inc. (NASDAQ:AMGN) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Amgen Inc. (NASDAQ:AMGN) have been given a consensus rating of “Moderate Buy” by the twenty-one ratings firms that are currently covering the company, Marketbeat reports. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $312.63.

Several brokerages recently issued reports on AMGN. Raymond James began coverage on shares of Amgen in a report on Thursday, March 28th. They set a “market perform” rating for the company. BMO Capital Markets raised their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. UBS Group boosted their price objective on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Morgan Stanley reduced their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Finally, Truist Financial reaffirmed a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Friday, April 12th.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. BIP Wealth LLC grew its holdings in Amgen by 2.6% in the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after purchasing an additional 32 shares during the last quarter. RFP Financial Group LLC grew its stake in Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after buying an additional 32 shares during the last quarter. Hofer & Associates. Inc increased its position in Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after buying an additional 32 shares in the last quarter. Blossom Wealth Management raised its stake in Amgen by 3.3% in the second quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock valued at $320,000 after buying an additional 33 shares during the last quarter. Finally, Acropolis Investment Management LLC boosted its holdings in Amgen by 3.5% in the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

AMGN stock opened at $331.29 on Monday. The company has a market cap of $177.71 billion, a P/E ratio of 47.33, a price-to-earnings-growth ratio of 3.00 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. Amgen has a 1 year low of $228.21 and a 1 year high of $338.98. The stock’s fifty day moving average price is $311.81 and its 200-day moving average price is $296.22.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $7.45 billion. During the same period last year, the firm posted $3.98 earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, equities analysts forecast that Amgen will post 19.48 earnings per share for the current year.

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.