Barclays Increases Amgen (NASDAQ:AMGN) Price Target to $315.00

Amgen (NASDAQ:AMGN) had its target price boosted by equities researchers at Barclays from $300.00 to $315.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price objective points to a potential downside of 0.84% from the company’s current price.

Several other research firms have also commented on AMGN. Bank of America lifted their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Morgan Stanley reduced their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Oppenheimer reiterated an “outperform” rating and set a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. Finally, Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $326.30.

Amgen Stock Performance

AMGN opened at $317.68 on Monday. Amgen has a twelve month low of $249.70 and a twelve month high of $346.85. The firm has a market capitalization of $170.41 billion, a PE ratio of 45.38, a PEG ratio of 2.98 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The firm’s 50-day moving average price is $326.97 and its 200 day moving average price is $309.76.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the prior year, the firm earned $5.00 earnings per share. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, sell-side analysts expect that Amgen will post 19.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Amgen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC purchased a new position in Amgen during the 2nd quarter worth approximately $26,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the second quarter valued at approximately $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the second quarter worth approximately $31,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the second quarter worth $33,000. Finally, FSA Wealth Management LLC grew its position in Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after buying an additional 91 shares during the last quarter. 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.