Amgen (NASDAQ:AMGN) PT Lowered to $284.00 at UBS Group

Amgen (NASDAQ:AMGN) had its price target dropped by analysts at UBS Group from $314.00 to $284.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. UBS Group’s price objective points to a potential upside of 7.55% from the stock’s current price.

AMGN has been the topic of a number of other reports. Royal Bank of Canada restated an “outperform” rating and set a $329.00 price target on shares of Amgen in a research report on Wednesday, April 3rd. The Goldman Sachs Group raised their price target on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. StockNews.com downgraded Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Finally, Raymond James assumed coverage on Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating on the stock. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $296.95.

Amgen Trading Down 0.6 %

Shares of AMGN opened at $264.07 on Wednesday. Amgen has a 1 year low of $211.71 and a 1 year high of $329.72. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The stock has a 50 day simple moving average of $277.99 and a 200-day simple moving average of $281.37. The stock has a market cap of $141.52 billion, a PE ratio of 21.14, a PEG ratio of 2.47 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. Amgen’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the prior year, the company earned $4.09 EPS. On average, sell-side analysts predict that Amgen will post 19.46 EPS for the current fiscal year.

Institutional Trading of Amgen

A number of institutional investors have recently bought and sold shares of the company. Briaud Financial Planning Inc bought a new position in shares of Amgen during the 3rd quarter worth about $26,000. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen during the 4th quarter worth about $29,000. United Community Bank bought a new position in shares of Amgen during the 4th quarter worth about $29,000. Dagco Inc. bought a new position in shares of Amgen during the 4th quarter worth about $29,000. Finally, OFI Invest Asset Management bought a new position in shares of Amgen during the 3rd quarter worth about $26,000. Institutional investors own 76.50% of the company’s stock.

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.