Amgen (NASDAQ:AMGN) Rating Increased to Buy at BidaskClub

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BidaskClub upgraded shares of Amgen (NASDAQ:AMGN) from a hold rating to a buy rating in a research report released on Saturday morning, BidAskClub reports.

A number of other analysts have also recently weighed in on the company. ValuEngine cut Amgen from a hold rating to a sell rating in a research report on Tuesday, May 26th. Mizuho reaffirmed a hold rating and set a $215.00 price target on shares of Amgen in a research report on Thursday, April 30th. Piper Sandler lifted their price target on Amgen from $235.00 to $255.00 and gave the stock an overweight rating in a research report on Thursday, April 30th. Zacks Investment Research raised Amgen from a hold rating to a buy rating and set a $240.00 price target for the company in a research report on Wednesday, April 15th. Finally, Oppenheimer assumed coverage on Amgen in a research report on Friday, May 1st. They set a buy rating and a $252.00 price target for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eighteen have assigned a buy rating to the stock. Amgen has a consensus rating of Buy and an average target price of $245.85.

Amgen stock opened at $235.86 on Friday. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.59 and a quick ratio of 1.28. The stock has a market capitalization of $136.97 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.99 and a beta of 0.94. Amgen has a 1-year low of $173.12 and a 1-year high of $244.99. The business has a fifty day moving average price of $229.23 and a 200-day moving average price of $225.31.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.70 by $0.47. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Amgen had a return on equity of 90.75% and a net margin of 32.03%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.56 EPS. On average, equities research analysts anticipate that Amgen will post 15.56 earnings per share for the current fiscal year.

In related news, Director Ronald D. Sugar sold 1,000 shares of Amgen stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $233.35, for a total value of $233,350.00. Following the completion of the transaction, the director now owns 15,636 shares in the company, valued at approximately $3,648,660.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director R Sanders Williams sold 425 shares of Amgen stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $237.31, for a total value of $100,856.75. Following the completion of the transaction, the director now owns 5,834 shares of the company’s stock, valued at approximately $1,384,466.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,425 shares of company stock valued at $792,017. 0.36% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of AMGN. Wealth Quarterback LLC acquired a new stake in Amgen in the 4th quarter worth about $3,116,210,000. Norges Bank acquired a new stake in Amgen in the 4th quarter worth about $1,515,191,000. Clearbridge Investments LLC boosted its holdings in Amgen by 151.2% in the 1st quarter. Clearbridge Investments LLC now owns 4,118,757 shares of the medical research company’s stock worth $834,996,000 after buying an additional 2,478,922 shares during the last quarter. Capital Research Global Investors boosted its holdings in Amgen by 5.2% in the 4th quarter. Capital Research Global Investors now owns 35,337,639 shares of the medical research company’s stock worth $8,518,844,000 after buying an additional 1,743,084 shares during the last quarter. Finally, APG Asset Management N.V. boosted its holdings in Amgen by 298.8% in the 1st quarter. APG Asset Management N.V. now owns 1,741,626 shares of the medical research company’s stock worth $294,673,000 after buying an additional 1,304,921 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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