Recent Investment Analysts’ Ratings Updates for Amgen (AMGN)

Amgen (NASDAQ: AMGN) has recently received a number of price target changes and ratings updates:

  • 5/17/2019 – Amgen had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $208.00 price target on the stock.
  • 5/15/2019 – Amgen had its “hold” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $190.00 price target on the stock.
  • 5/10/2019 – Amgen was given a new $208.00 price target on by analysts at Mizuho. They now have a “buy” rating on the stock.
  • 5/1/2019 – Amgen had its “buy” rating reaffirmed by analysts at Cowen Inc. They now have a $229.00 price target on the stock.
  • 4/23/2019 – Amgen was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 4/22/2019 – Amgen was given a new $208.00 price target on by analysts at Mizuho. They now have a “buy” rating on the stock.
  • 4/15/2019 – Amgen was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “While Amgen’s newer drugs — Prolia, Xgeva, Blincyto, Kyprolis — will drive sales, biosimilar and brand competition faced by its legacy drugs will create pressure on the top line in 2019. Meanwhile, uptake of key drug, Repatha has been slow due to payer restrictions. However, Amgen is progressing well with its pipeline and approval of Aimovig was a huge boost. In the past five years, Amgen has launched nine products, including two in new therapeutic areas. Amgen boasts a strong biosimilars pipeline, which could be an important long-term growth driver for the company. Amgen’s restructuring plan is making it leaner and more cost efficient. Lower taxes and share buybacks should provide some support to the bottom line. Amgen’s shares have underperformed the industry this year so far. Estimates have declined lightly ahead of the Q1 earnings release. Amgen has a positive record of earnings surprises in recent quarters.”
  • 4/12/2019 – Amgen was given a new $208.00 price target on by analysts at Mizuho. They now have a “buy” rating on the stock. They wrote, “We think the peak sales potential of Vascepa is underappreciated. Therefore, upward earnings revisions to levels not reflected in FactSet consensus expectations should drive AMRN shares higher. Valuation Summary We continue to use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $35.””
  • 4/12/2019 – Amgen was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $217.00 price target on the stock. According to Zacks, “While Amgen’s newer drugs — Prolia, Xgeva, Blincyto, Kyprolis — will drive sales, biosimilar and brand competition faced by its legacy drugs will create pressure on the top line in 2019. Meanwhile, uptake of key drug, Repatha has been slow due to payer restrictions. However, Amgen is progressing well with its pipeline and approval of Aimovig was a huge boost. In the past five years, Amgen has launched nine products, including two in new therapeutic areas. Amgen boasts a strong biosimilars pipeline, which could be an important long-term growth driver for the company. Amgen’s restructuring plan is making it leaner and more cost efficient. Lower taxes and share buybacks should provide some support to the bottom line. Amgen’s shares have underperformed the industry this year so far. Estimates have declined lightly ahead of the Q1 earnings release. Amgen has a positive record of earnings surprises in recent quarters.”
  • 4/5/2019 – Amgen was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “While Amgen’s newer drugs — Prolia, Xgeva, Blincyto, Kyprolis — will drive sales, biosimilar and brand competition faced by its legacy drugs will create pressure on the top line in 2019. Meanwhile, uptake of key drug, Repatha has been slow due to payer restrictions. However, Amgen is progressing well with its pipeline and approval of Aimovig was a huge boost. In the past five years, Amgen has launched nine products, including two in new therapeutic areas. Amgen boasts a strong biosimilars pipeline, which could be an important long-term growth driver for the company. Amgen’s restructuring plan is making it leaner and more cost efficient. Lower taxes and share buybacks should provide some support to the bottom line. Amgen’s shares have underperformed the industry this year so far. Nonetheless, estimates have gone up ahead of the Q1 earnings release. Amgen has a positive record of earnings surprises in recent quarters.”
  • 4/2/2019 – Amgen was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $215.00 price target on the stock. According to Zacks, “While Amgen’s newer drugs — Prolia, Xgeva, Blincyto, Kyprolis — will drive sales, biosimilar and brand competition faced by its legacy products will create pressure on the top line in 2019. Meanwhile, uptake of key drug, Repatha has been slow due to payer restrictions. The recent price cut will hurt sales going forward. However, Amgen is progressing well with its pipeline and the approval of Aimovig was a huge boost. In the past five years, Amgen has launched nine products, including two in new therapeutic areas. Amgen boasts a strong biosimilars pipeline, which could be an important long-term growth driver for the company. Amgen’s restructuring plan is making it leaner and more cost efficient. Lower taxes and share buybacks should provide some support to the bottom line. Amgen’s shares have outperformed the industry in the past year.”
  • 4/1/2019 – Amgen had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $221.00 price target on the stock. They wrote, “. We Reiterate our Neutral rating and $221 Price Target. We are attending the AACR (cancer research meeting) in Atlanta. Amgen presented its preclinical data for 24-minute session. The company’s molecule is targeting the KRAS p.G12C mutation and is a covalent inhibitor. The presentation explained how it identified a unique groove formed by rotation of an adjacent histidine residue (H95). An inactive form of KRAS reveals a small pocket P2 in GDP-KRAS, which is adjacent to cys12. The molecule binds to P2 and H95 and is expected to be dosed orally once daily. 510 has single-digit nanomolar potency and is 1,000x more selective to other KRAS mutants.””
  • 3/22/2019 – Amgen was given a new $208.00 price target on by analysts at Mizuho. They now have a “buy” rating on the stock.

Shares of Amgen stock traded up $0.08 on Friday, reaching $170.00. The stock had a trading volume of 79,340 shares, compared to its average volume of 3,235,651. The company has a quick ratio of 2.53, a current ratio of 2.77 and a debt-to-equity ratio of 2.71. Amgen, Inc. has a 1 year low of $166.30 and a 1 year high of $210.19. The company has a market cap of $103.61 billion, a P/E ratio of 11.81, a PEG ratio of 2.24 and a beta of 1.15.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, April 30th. The medical research company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $0.11. Amgen had a net margin of 34.00% and a return on equity of 71.02%. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the previous year, the firm earned $3.47 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities research analysts forecast that Amgen, Inc. will post 13.93 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is presently 40.28%.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $175.73, for a total transaction of $351,460.00. Following the sale, the director now owns 15,092 shares of the company’s stock, valued at approximately $2,652,117.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 6,000 shares of company stock worth $1,115,580. 0.25% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its stake in shares of Amgen by 20,103.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,424,215 shares of the medical research company’s stock valued at $161,000 after purchasing an additional 31,268,677 shares during the period. Norges Bank acquired a new position in shares of Amgen in the 4th quarter valued at $1,283,248,000. Wells Fargo & Company MN lifted its stake in shares of Amgen by 22.9% in the 1st quarter. Wells Fargo & Company MN now owns 7,527,083 shares of the medical research company’s stock valued at $1,429,995,000 after purchasing an additional 1,403,169 shares during the period. BlackRock Inc. lifted its stake in shares of Amgen by 2.0% in the 4th quarter. BlackRock Inc. now owns 46,127,396 shares of the medical research company’s stock valued at $8,979,621,000 after purchasing an additional 906,568 shares during the period. Finally, Geode Capital Management LLC raised its position in Amgen by 9.1% during the first quarter. Geode Capital Management LLC now owns 9,651,354 shares of the medical research company’s stock worth $1,831,047,000 after acquiring an additional 801,130 shares during the period. Institutional investors and hedge funds own 80.65% of the company’s stock.

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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