Amgen (NASDAQ:AMGN) Given New $326.00 Price Target at UBS Group

Amgen (NASDAQ:AMGN) had its price objective lowered by equities research 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 currently has a “neutral” rating on the medical research company’s stock. UBS Group’s price objective would indicate a potential upside of 1.16% from the stock’s previous close.

AMGN has been the topic of a number of other reports. Sanford C. Bernstein assumed coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Bank of America boosted their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $333.50.

Amgen Stock Up 2.1 %

AMGN stock traded up $6.71 during midday trading on Thursday, hitting $322.25. The stock had a trading volume of 1,435,180 shares, compared to its average volume of 2,414,835. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The firm has a market cap of $172.87 billion, a price-to-earnings ratio of 45.97, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The business has a 50-day moving average of $324.75 and a two-hundred day moving average of $314.78. Amgen has a 52-week low of $249.70 and a 52-week 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 the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the business earned $4.96 EPS. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts forecast that Amgen will post 19.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amgen

A number of institutional investors and hedge funds have recently bought and sold shares of AMGN. Strategic Financial Concepts LLC purchased a new stake in Amgen in the second quarter worth about $26,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the second quarter valued at approximately $30,000. nVerses Capital LLC purchased a new position in Amgen during the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC purchased a new stake in Amgen during the second quarter worth $33,000. Finally, Matrix Trust Co bought a new stake in Amgen during the 3rd quarter valued at $36,000. 76.50% of the stock is owned by institutional investors.

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.