Amgen (AMGN) Receives Neutral Rating from Royal Bank of Canada

Amgen (NASDAQ:AMGN)‘s stock had its “neutral” rating reiterated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Thursday.

Several other research firms have also recently weighed in on AMGN. Cann reaffirmed a “buy” rating and set a $224.00 price objective on shares of Amgen in a research report on Monday, October 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $220.00 price objective on shares of Amgen in a research report on Monday, October 1st. Oppenheimer reaffirmed a “buy” rating and set a $224.00 price objective on shares of Amgen in a research report on Tuesday, October 2nd. Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $234.00 target price for the company in a report on Monday, October 1st. Finally, Cantor Fitzgerald assumed coverage on shares of Amgen in a report on Monday, October 1st. They issued a “neutral” rating and a $223.00 target price for the company. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $204.55.

AMGN opened at $187.06 on Thursday. Amgen has a twelve month low of $163.31 and a twelve month high of $210.19. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.08 and a quick ratio of 3.12. The stock has a market cap of $124.79 billion, a P/E ratio of 13.89, a PEG ratio of 1.85 and a beta of 1.37.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.45 by $0.24. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.78 billion. During the same quarter in the prior year, the business posted $3.27 earnings per share. Amgen’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts anticipate that Amgen will post 14.2 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of AMGN. Pillar Pacific Capital Management LLC increased its position in Amgen by 0.5% during the 2nd quarter. Pillar Pacific Capital Management LLC now owns 56,671 shares of the medical research company’s stock valued at $10,461,000 after purchasing an additional 254 shares during the period. Murphy Capital Management Inc. increased its position in Amgen by 2.3% during the 3rd quarter. Murphy Capital Management Inc. now owns 11,285 shares of the medical research company’s stock valued at $2,339,000 after purchasing an additional 254 shares during the period. Fairfield Bush & CO. increased its position in Amgen by 0.8% during the 2nd quarter. Fairfield Bush & CO. now owns 33,934 shares of the medical research company’s stock valued at $6,264,000 after purchasing an additional 260 shares during the period. Advisors Capital Management LLC increased its position in Amgen by 5.8% during the 2nd quarter. Advisors Capital Management LLC now owns 4,737 shares of the medical research company’s stock valued at $874,000 after purchasing an additional 261 shares during the period. Finally, Highland Capital Management LLC increased its position in Amgen by 1.0% during the 2nd quarter. Highland Capital Management LLC now owns 27,457 shares of the medical research company’s stock valued at $5,068,000 after purchasing an additional 262 shares during the period. Institutional investors and hedge funds own 82.37% 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, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

Recommended Story: How Do I Invest in Dividend Stocks

Analyst Recommendations for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply