Amgen (NASDAQ:AMGN) Coverage Initiated at Raymond James

Stock analysts at Raymond James assumed coverage on shares of Amgen (NASDAQ:AMGN) in a research report issued to clients and investors on Thursday, StockNewsAPI reports. The brokerage set a “market perform” rating on the medical research company’s stock.

AMGN has been the subject of a number of other research reports. BMO Capital Markets raised shares of Amgen from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $286.00 to $326.00 in a report on Tuesday, December 19th. Truist Financial reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Amgen in a report on Wednesday, November 29th. Daiwa Capital Markets upgraded shares of Amgen from a “neutral” rating to a “buy” rating and lifted their target price for the company from $264.00 to $320.00 in a research report on Thursday, December 21st. UBS Group dropped their target price on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a research report on Monday, January 29th. Finally, Morgan Stanley lowered their price target on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $295.30.

Amgen Stock Up 0.3 %

AMGN traded up $0.84 during trading on Thursday, hitting $287.14. The stock had a trading volume of 170,321 shares, compared to its average volume of 3,005,920. The company has a market capitalization of $153.88 billion, a PE ratio of 23.02, a PEG ratio of 2.66 and a beta of 0.58. Amgen has a twelve month low of $211.71 and a twelve month high of $329.72. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The stock has a 50 day simple moving average of $290.44 and a two-hundred day simple moving average of $280.66.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.05. The company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. Amgen’s revenue was up 19.8% compared to the same quarter last year. During the same period last year, the firm earned $4.09 earnings per share. On average, research analysts predict that Amgen will post 19.49 earnings per share for the current year.

Institutional Trading of Amgen

Several institutional investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new stake in Amgen during the third quarter valued at $26,000. Briaud Financial Planning Inc bought a new position in shares of Amgen during the third quarter worth about $26,000. VisionPoint Advisory Group LLC bought a new position in shares of Amgen during the second quarter worth about $28,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Amgen during the first quarter worth about $28,000. Finally, BOK Financial Private Wealth Inc. bought a new position in shares of Amgen during the fourth quarter worth about $29,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.