Amgen’s (AMGN) “Outperform” Rating Reaffirmed at William Blair

Amgen (NASDAQ:AMGN)‘s stock had its “outperform” rating reaffirmed by analysts at William Blair in a research note issued on Tuesday,RTT News reports.

AMGN has been the subject of several other reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. UBS Group lowered their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. TD Cowen raised their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $321.81 on Tuesday. The firm has a fifty day simple moving average of $323.37 and a two-hundred day simple moving average of $318.07. Amgen has a 52 week low of $260.52 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock has a market capitalization of $172.98 billion, a P/E ratio of 41.20, a PEG ratio of 2.90 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the previous year, the firm posted $4.96 earnings per share. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, analysts expect that Amgen will post 19.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amgen

Several institutional investors have recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. boosted its position in Amgen by 63.5% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,230 shares of the medical research company’s stock valued at $634,000 after acquiring an additional 866 shares in the last quarter. Angeles Wealth Management LLC purchased a new stake in shares of Amgen during the 1st quarter worth $210,000. Delta Investment Management LLC boosted its position in Amgen by 8.6% during the first quarter. Delta Investment Management LLC now owns 1,842 shares of the medical research company’s stock valued at $524,000 after purchasing an additional 146 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its stake in Amgen by 41.3% in the first quarter. Beacon Investment Advisory Services Inc. now owns 41,950 shares of the medical research company’s stock valued at $11,927,000 after purchasing an additional 12,268 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in Amgen by 10.1% in the first quarter. Kingsview Wealth Management LLC now owns 63,452 shares of the medical research company’s stock worth $18,041,000 after purchasing an additional 5,819 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other 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.