Amgen (NASDAQ:AMGN) Price Target Lowered to $195.00 at Redburn Partners

Amgen (NASDAQ:AMGN) had its target price reduced by investment analysts at Redburn Partners from $200.00 to $195.00 in a research report issued to clients and investors on Wednesday. Redburn Partners’ price target would indicate a potential downside of 30.36% from the company’s previous close.

A number of other analysts also recently commented on the stock. Citigroup started coverage on shares of Amgen in a research report on Thursday, November 14th. They set a “neutral” rating and a $335.00 price target on the stock. Oppenheimer restated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Royal Bank of Canada cut their price objective on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Wolfe Research started coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.09.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $13.99 during midday trading on Wednesday, hitting $280.01. 17,010,332 shares of the company’s stock were exchanged, compared to its average volume of 3,139,351. Amgen has a twelve month low of $257.80 and a twelve month high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a market cap of $150.51 billion, a P/E ratio of 35.85, a PEG ratio of 2.62 and a beta of 0.60. The stock’s 50 day moving average price is $314.64 and its 200-day moving average price is $317.84.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the business posted $4.96 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts anticipate that Amgen will post 19.52 EPS for the current year.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the 3rd quarter worth $25,000. Strategic Financial Concepts LLC acquired a new stake in Amgen in the 2nd quarter valued at approximately $26,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen during the third quarter worth approximately $29,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen in the second quarter valued at approximately $30,000. Finally, nVerses Capital LLC acquired a new position in Amgen during the 2nd quarter valued at $31,000. 76.50% of the stock is currently 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.