Amgen (NASDAQ:AMGN) Receives Buy Rating from Jefferies Financial Group

Amgen (NASDAQ:AMGN)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Financial Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $380.00 target price on the medical research company’s stock. Jefferies Financial Group’s price target points to a potential upside of 27.04% from the stock’s previous close.

AMGN has been the topic of a number of other reports. Barclays lifted their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. TD Cowen lifted their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $333.50.

Amgen Price Performance

AMGN traded down $22.69 during trading on Tuesday, reaching $299.12. 5,303,394 shares of the stock were exchanged, compared to its average volume of 2,423,743. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen has a 1 year low of $260.52 and a 1 year high of $346.85. The business’s 50 day moving average price is $323.37 and its two-hundred day moving average price is $318.07. The company has a market capitalization of $160.79 billion, a price-to-earnings ratio of 37.99, a P/E/G ratio of 2.90 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.96 earnings per share. As a group, equities research analysts anticipate that Amgen will post 19.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AMGN. Capital Performance Advisors LLP bought a new position in Amgen during the third quarter worth about $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Amgen in the 2nd quarter valued at $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen in the 2nd quarter valued at $30,000. nVerses Capital LLC purchased a new position in Amgen during the 2nd quarter worth $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in Amgen during the 2nd quarter worth $33,000. Institutional investors own 76.50% of the company’s stock.

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.