Amgen (NASDAQ:AMGN) Earns “Buy” Rating from BMO Capital Markets
Amgen (NASDAQ:AMGN)‘s stock had its “buy” rating reiterated by equities researchers at BMO Capital Markets in a research note issued on Monday, TipRanks reports.
A number of other brokerages have also recently issued reports on AMGN. Piper Jaffray Companies upped their price objective on shares of Amgen from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. set a $198.00 target price on shares of Amgen and gave the stock a “hold” rating in a research report on Friday, September 6th. Morgan Stanley lowered their price target on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada boosted their price target on shares of Amgen from $192.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 27th. Finally, Cowen set a $231.00 price target on shares of Amgen and gave the company a “buy” rating in a research report on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $217.33.
NASDAQ:AMGN traded down $1.03 during mid-day trading on Monday, reaching $195.84. The stock had a trading volume of 2,837,132 shares, compared to its average volume of 3,050,802. The stock has a market capitalization of $121.34 billion, a P/E ratio of 13.60, a P/E/G ratio of 2.37 and a beta of 1.11. The firm has a 50 day moving average price of $196.19 and a two-hundred day moving average price of $185.15. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89. Amgen has a one year low of $166.30 and a one year high of $211.90.
In other news, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $206.70, for a total transaction of $413,400.00. Following the completion of the transaction, the director now directly owns 16,336 shares of the company’s stock, valued at $3,376,651.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Cynthia M. Patton sold 13,426 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $208.07, for a total transaction of $2,793,547.82. Following the sale, the senior vice president now owns 32,648 shares of the company’s stock, valued at $6,793,069.36. The disclosure for this sale can be found here. In the last three months, insiders sold 17,851 shares of company stock worth $3,659,900. Insiders own 0.25% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Landsberg Bennett & Dubbaneh LLC raised its holdings in shares of Amgen by 19.2% during the first quarter. Landsberg Bennett & Dubbaneh LLC now owns 1,941 shares of the medical research company’s stock valued at $375,000 after acquiring an additional 313 shares in the last quarter. Cascade Investment Advisors Inc. increased its position in Amgen by 1.1% during the 1st quarter. Cascade Investment Advisors Inc. now owns 7,100 shares of the medical research company’s stock valued at $1,349,000 after purchasing an additional 75 shares during the period. CRA Financial Services LLC raised its holdings in Amgen by 5.6% in the 1st quarter. CRA Financial Services LLC now owns 1,165 shares of the medical research company’s stock worth $221,000 after purchasing an additional 62 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in Amgen by 55.9% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 725 shares of the medical research company’s stock worth $138,000 after purchasing an additional 260 shares in the last quarter. Finally, Portland Global Advisors LLC lifted its position in shares of Amgen by 0.8% in the 1st quarter. Portland Global Advisors LLC now owns 15,059 shares of the medical research company’s stock worth $2,861,000 after purchasing an additional 122 shares during the period. 76.28% of the stock is currently owned by institutional investors.
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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