Amgen (NASDAQ:AMGN) received a $240.00 price objective from equities researchers at Oppenheimer in a research note issued on Monday, TipRanks reports. The firm currently has a “buy” rating on the medical research company’s stock. Oppenheimer’s target price would suggest a potential upside of 22.55% from the company’s current price.

A number of other research analysts have also issued reports on AMGN. Cowen set a $231.00 price target on shares of Amgen and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Piper Jaffray Companies raised their price objective on shares of Amgen from $210.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. set a $198.00 price objective on Amgen and gave the company a “hold” rating in a report on Friday, September 6th. Mizuho cut Amgen from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $208.00 to $212.00 in a research report on Monday, August 19th. They noted that the move was a valuation call. Finally, Credit Suisse Group reissued an “outperform” rating and set a $225.00 target price (up from $202.00) on shares of Amgen in a research note on Friday, August 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $217.33.

NASDAQ:AMGN traded down $1.03 during midday 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 company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58. The stock has a market cap 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 fifty day simple moving average of $196.19 and a two-hundred day simple moving average of $185.15. Amgen has a 12-month low of $166.30 and a 12-month high of $211.90.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, topping the Zacks’ consensus estimate of $3.58 by $0.39. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter in the prior year, the firm earned $3.83 EPS. Amgen’s quarterly revenue was down 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Amgen will post 14.3 earnings per share for the current fiscal year.

In related news, Director R Sanders Williams sold 425 shares of Amgen stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total transaction of $77,792.00. Following the completion of the transaction, the director now directly owns 16,336 shares of the company’s stock, valued at $2,990,141.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $206.70, for a total value of $413,400.00. Following the sale, the director now owns 16,336 shares in the company, valued at $3,376,651.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,851 shares of company stock valued at $3,659,900. 0.25% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in AMGN. Nuveen Asset Management LLC raised its stake in shares of Amgen by 1,334.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,942,807 shares of the medical research company’s stock worth $910,860,000 after buying an additional 4,598,329 shares during the last quarter. Thoroughbred Financial Services LLC increased its holdings in Amgen by 19,447.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock valued at $180,539,000 after acquiring an additional 1,796,156 shares in the last quarter. BlackRock Inc. raised its position in Amgen by 3.4% during the second quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock worth $8,793,346,000 after acquiring an additional 1,585,911 shares during the last quarter. Ruffer LLP acquired a new position in Amgen during the second quarter worth about $192,788,000. Finally, Ellis Investment Partners LLC lifted its holdings in shares of Amgen by 18,906.7% in the first quarter. Ellis Investment Partners LLC now owns 605,934 shares of the medical research company’s stock valued at $605,000 after purchasing an additional 602,746 shares in the last quarter. Institutional investors and hedge funds own 76.28% of the company’s stock.

Amgen Company Profile

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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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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