Amgen (NASDAQ:AMGN) Stock Rating Reaffirmed by Royal Bank of Canada

Amgen (NASDAQ:AMGN)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued on Thursday, Benzinga reports. They currently have a $362.00 price target on the medical research company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 12.19% from the stock’s current price.

A number of other research analysts have also recently issued reports on AMGN. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Argus raised their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Morgan Stanley dropped their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. TD Cowen raised their price objective on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price objective (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 issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.55.

Amgen Stock Performance

Amgen stock opened at $322.67 on Thursday. The stock has a market cap of $173.09 billion, a P/E ratio of 46.25, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock has a 50 day moving average of $328.94 and a 200-day moving average of $307.00. Amgen has a 52 week low of $249.70 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last issued 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). The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business earned $5.00 earnings per share. On average, analysts expect that Amgen will post 19.49 EPS for the current fiscal year.

Institutional Trading of Amgen

A number of institutional investors have recently bought and sold shares of the business. Keynote Financial Services LLC boosted its holdings in Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares during the period. Ascent Group LLC boosted its holdings in Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after purchasing an additional 31 shares during the period. RFP Financial Group LLC boosted its holdings in Amgen by 17.1% in the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 32 shares during the period. Hofer & Associates. Inc boosted its holdings in Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after purchasing an additional 32 shares during the period. Finally, Blossom Wealth Management boosted its holdings in Amgen by 3.3% in the 2nd quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock valued at $320,000 after purchasing an additional 33 shares during the period. 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.