Amgen (NASDAQ:AMGN) Stock Rating Reaffirmed by Atlantic Securities

Amgen (NASDAQ:AMGN)‘s stock had its “underweight” rating reaffirmed by equities researchers at Atlantic Securities in a report released on Tuesday, Benzinga reports. They currently have a $200.00 price objective on the medical research company’s stock. Atlantic Securities’ target price would suggest a potential downside of 18.49% from the company’s current price.

AMGN has been the subject of several other research reports. Barclays cut their price objective on Amgen from $242.00 to $230.00 and set an “equal weight” rating for the company in a report on Thursday, March 11th. Credit Suisse Group cut their price target on Amgen from $265.00 to $259.00 and set an “outperform” rating for the company in a report on Wednesday, April 28th. SVB Leerink lowered their price objective on Amgen from $267.00 to $230.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 28th. Piper Sandler decreased their target price on Amgen from $280.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 3rd. Finally, Royal Bank of Canada cut their target price on Amgen from $220.00 to $217.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. Amgen presently has an average rating of “Hold” and a consensus price target of $255.62.

AMGN stock opened at $245.38 on Tuesday. Amgen has a 1-year low of $210.28 and a 1-year high of $276.69. The business has a fifty day moving average price of $248.86 and a 200-day moving average price of $236.11. The company has a debt-to-equity ratio of 3.12, a current ratio of 2.28 and a quick ratio of 1.88. The stock has a market capitalization of $141.29 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.90 and a beta of 0.76.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Monday, April 26th. The medical research company reported $3.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.05 by ($0.35). Amgen had a return on equity of 95.55% and a net margin of 29.42%. The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.30 billion. During the same quarter in the prior year, the firm earned $4.17 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, analysts anticipate that Amgen will post 16.15 earnings per share for the current year.

In other news, Director Ronald D. Sugar sold 1,000 shares of the firm’s stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $231.53, for a total value of $231,530.00. Following the transaction, the director now owns 16,805 shares of the company’s stock, valued at approximately $3,890,861.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director R Sanders Williams sold 250 shares of the firm’s stock in a transaction on Monday, February 8th. The shares were sold at an average price of $237.99, for a total transaction of $59,497.50. Following the completion of the transaction, the director now directly owns 4,659 shares in the company, valued at approximately $1,108,795.41. The disclosure for this sale can be found here. In the last three months, insiders sold 14,360 shares of company stock worth $3,407,034. Insiders own 0.36% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fort Pitt Capital Group LLC acquired a new stake in Amgen during the 4th quarter valued at $28,000. Norway Savings Bank acquired a new stake in Amgen during the 4th quarter valued at $29,000. Crescent Capital Consulting LLC acquired a new stake in Amgen during the 4th quarter valued at $34,000. Wealthcare Capital Management LLC acquired a new stake in Amgen during the 1st quarter valued at $38,000. Finally, Kinloch Capital LLC acquired a new stake in Amgen during the 4th quarter valued at $40,000. 75.23% of the stock is owned by institutional investors and hedge funds.

About Amgen

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, BLINCYTO, Corlanor, ENBREL, EPOGEN, IMLYGIC, KYPROLIS, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, and XGEVA.

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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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