Deutsche Bank Aktiengesellschaft Cuts Amgen (NASDAQ:AMGN) Price Target to $285.00

Amgen (NASDAQ:AMGN) had its target price decreased by equities researchers at Deutsche Bank Aktiengesellschaft from $305.00 to $285.00 in a research report issued on Wednesday. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 1.78% from the stock’s previous close.

A number of other equities research analysts also recently commented on AMGN. Leerink Partners decreased their target price on Amgen from $349.00 to $302.00 in a report on Wednesday. Oppenheimer reissued an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Citigroup began coverage on Amgen in a research report on Thursday, November 14th. They issued a “neutral” rating and a $335.00 price objective for the company. 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 research report on Wednesday. Finally, TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.05.

Amgen Trading Down 4.8 %

AMGN traded down $13.99 during trading on Wednesday, reaching $280.01. The company had a trading volume of 17,010,332 shares, compared to its average volume of 3,139,351. The stock 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 business has a 50 day simple moving average of $314.64 and a 200-day simple moving average of $317.84. Amgen has a 52 week low of $257.80 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating 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 firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the firm posted $4.96 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities analysts anticipate that Amgen will post 19.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Keynote Financial Services LLC increased its position in Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after acquiring an additional 30 shares during the period. Ascent Group LLC boosted its position in shares of Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after buying an additional 31 shares during the period. Hofer & Associates. Inc boosted its position in shares of Amgen by 0.5% in the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after buying an additional 32 shares during the period. Cadinha & Co. LLC raised its holdings in shares of Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after acquiring an additional 32 shares in the last quarter. Finally, Lansing Street Advisors raised its holdings in Amgen by 1.3% during the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after buying an additional 32 shares in the last quarter. 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.