Amgen (NASDAQ:AMGN) Coverage Initiated by Analysts at Wolfe Research

Stock analysts at Wolfe Research assumed coverage on shares of Amgen (NASDAQ:AMGN) in a research report issued on Friday, Marketbeat reports. The firm set a “peer perform” rating on the medical research company’s stock.

Several other brokerages also recently commented on AMGN. Bank of America upped their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 target price on shares of Amgen in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Price Performance

NASDAQ:AMGN opened at $283.61 on Friday. The firm has a market capitalization of $152.45 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.69 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The business has a 50 day simple moving average of $320.85 and a 200-day simple moving average of $318.05. Amgen has a 1 year low of $260.52 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the company earned $4.96 earnings per share. Equities analysts forecast that Amgen will post 19.51 EPS for the current year.

Institutional Trading of Amgen

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in Amgen during the third quarter valued at about $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Amgen in the 2nd quarter valued at about $26,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen in the 3rd quarter valued at about $29,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the 2nd quarter worth approximately $30,000. Finally, nVerses Capital LLC bought a new position in shares of Amgen during the 2nd quarter worth approximately $31,000. Institutional investors 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.