Amgen (NASDAQ:AMGN) has been assigned a $240.00 target price by Oppenheimer in a report released on Monday, TipRanks reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Oppenheimer’s price objective would suggest a potential upside of 22.55% from the stock’s previous close.
A number of other equities analysts also recently commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $230.00 target price (up previously from $221.00) on shares of Amgen in a research note on Thursday, September 5th. Citigroup restated a “buy” rating on shares of Amgen in a report on Monday, August 12th. Morgan Stanley decreased their price target on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. William Blair reiterated a “hold” rating on shares of Amgen in a report on Friday, August 30th. Finally, BMO Capital Markets raised their price objective on Amgen from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $217.33.
AMGN traded down $1.03 on Monday, reaching $195.84. 2,837,132 shares of the company’s stock were exchanged, compared to its average volume of 3,050,802. The company’s 50 day moving average is $196.19 and its 200-day moving average is $185.15. The company has a market cap of $121.34 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 2.37 and a beta of 1.11. Amgen has a twelve month low of $166.30 and a twelve month high of $211.90. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89.
In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total value of $375,160.00. Following the transaction, the director now owns 16,336 shares in the company, valued at approximately $3,064,306.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 17,851 shares of company stock worth $3,659,900 in the last ninety days. 0.25% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Preferred LLC purchased a new position in shares of Amgen during the 2nd quarter valued at approximately $30,000. Arbor Wealth Management LLC grew its position in shares of Amgen by 154.5% during the second quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after buying an additional 102 shares in the last quarter. C J Advisory Inc acquired a new stake in shares of Amgen during the first quarter worth approximately $40,000. Ashburton Jersey Ltd bought a new stake in shares of Amgen in the second quarter worth $42,000. Finally, Sound Income Strategies LLC increased its stake in shares of Amgen by 402.1% in the second quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock worth $43,000 after buying an additional 189 shares during the last quarter. 76.28% of the stock is currently owned by institutional investors and hedge funds.
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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