Amgen (NASDAQ:AMGN) PT Set at $230.00 by BMO Capital Markets

Amgen (NASDAQ:AMGN) has been assigned a $230.00 target price by analysts at BMO Capital Markets in a research note issued on Wednesday, TipRanks reports. The brokerage presently has a “buy” rating on the medical research company’s stock. BMO Capital Markets’ price target indicates a potential upside of 22.85% from the company’s current price.

AMGN has been the subject of several other reports. Credit Suisse Group began coverage on Amgen in a report on Monday, May 20th. They issued an “outperform” rating and a $208.00 target price for the company. JPMorgan Chase & Co. restated a “hold” rating and issued a $190.00 target price on shares of Amgen in a report on Wednesday, May 15th. BidaskClub upgraded Amgen from a “sell” rating to a “hold” rating in a report on Thursday. Morgan Stanley dropped their target price on Amgen from $211.00 to $207.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Citigroup upgraded Amgen from a “neutral” rating to a “buy” rating and dropped their target price for the company from $211.00 to $205.00 in a report on Wednesday, May 22nd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Amgen presently has a consensus rating of “Buy” and a consensus price target of $210.41.

NASDAQ AMGN traded up $1.22 during mid-day trading on Wednesday, hitting $187.22. The stock had a trading volume of 2,492,301 shares, compared to its average volume of 2,943,235. The stock’s 50 day moving average is $180.70. Amgen has a twelve month low of $166.30 and a twelve month high of $210.19. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.77 and a quick ratio of 2.53. The company has a market capitalization of $107.62 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.58 by $0.39. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a return on equity of 71.02% and a net margin of 34.00%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.83 EPS. On average, sell-side analysts anticipate that Amgen will post 14.05 earnings per share for the current year.

In related news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the transaction, the director now owns 16,336 shares of the company’s stock, valued at approximately $3,064,306.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Qube Research & Technologies Ltd raised its position in Amgen by 1.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 15,052 shares of the medical research company’s stock valued at $2,774,000 after purchasing an additional 225 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Amgen by 9.2% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 3,310 shares of the medical research company’s stock valued at $609,000 after purchasing an additional 280 shares in the last quarter. GHP Investment Advisors Inc. raised its position in Amgen by 3.8% in the 2nd quarter. GHP Investment Advisors Inc. now owns 10,509 shares of the medical research company’s stock valued at $1,937,000 after purchasing an additional 385 shares in the last quarter. Whitener Capital Management Inc. raised its position in Amgen by 41.0% in the 2nd quarter. Whitener Capital Management Inc. now owns 8,982 shares of the medical research company’s stock valued at $1,655,000 after purchasing an additional 2,610 shares in the last quarter. Finally, John G Ullman & Associates Inc. raised its position in Amgen by 1.5% in the 2nd quarter. John G Ullman & Associates Inc. now owns 11,622 shares of the medical research company’s stock valued at $2,142,000 after purchasing an additional 172 shares in the last quarter. 77.50% of the stock is currently owned by institutional investors.

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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