Amgen Inc. (NASDAQ:AMGN) Receives $325.55 Average Price Target from Brokerages

Shares of Amgen Inc. (NASDAQ:AMGN) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-four research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $325.55.

Several analysts recently weighed in on AMGN shares. Robert W. Baird restated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Morgan Stanley decreased their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Royal Bank of Canada restated an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Oppenheimer restated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th.

Institutional Investors Weigh In On Amgen

A number of large investors have recently bought and sold shares of AMGN. Aveo Capital Partners LLC boosted its position in Amgen by 19.9% in the fourth quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock valued at $786,000 after buying an additional 453 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in Amgen by 295.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock worth $1,021,000 after purchasing an additional 2,752 shares in the last quarter. Catalytic Wealth RIA LLC purchased a new stake in Amgen in the 4th quarter worth approximately $272,000. Evoke Wealth LLC boosted its position in Amgen by 3.6% in the 4th quarter. Evoke Wealth LLC now owns 8,185 shares of the medical research company’s stock worth $2,358,000 after purchasing an additional 281 shares in the last quarter. Finally, Gold Investment Management Ltd. purchased a new stake in Amgen in the 4th quarter worth approximately $573,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.7 %

NASDAQ:AMGN opened at $319.66 on Friday. Amgen has a twelve month low of $249.70 and a twelve month high of $346.85. The company has a market cap of $171.48 billion, a price-to-earnings ratio of 45.67, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The stock has a fifty day simple moving average of $327.28 and a 200-day simple moving average of $308.96. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter last year, the business posted $5.00 earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. Analysts anticipate that Amgen will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.82%. Amgen’s dividend payout ratio is currently 128.57%.

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.