Piper Sandler Companies Reiterates “Overweight” Rating for Amgen (NASDAQ:AMGN)

Amgen (NASDAQ:AMGN)‘s stock had its “overweight” rating reiterated by stock analysts at Piper Sandler Companies in a research note issued on Thursday, Stock Target Advisor reports. They presently have a $310.00 target price on the medical research company’s stock. Piper Sandler Companies’ price target would indicate a potential upside of 18.67% from the company’s current price.

Several other equities research analysts have also weighed in on AMGN. Redburn Partners cut their target price on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. TD Cowen increased their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Robert W. Baird reiterated an “underperform” rating and set a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Finally, Wolfe Research began coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus price target of $318.83.

Amgen Stock Up 0.7 %

NASDAQ AMGN opened at $261.22 on Thursday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen has a 52 week low of $253.30 and a 52 week high of $346.85. The stock has a market capitalization of $140.41 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 2.91 and a beta of 0.55. The stock has a fifty day moving average of $285.75 and a 200-day moving average of $310.70.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the prior year, the business posted $4.96 earnings per share. Amgen’s revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts forecast that Amgen will post 19.53 EPS for the current year.

Hedge Funds Weigh In On Amgen

A number of institutional investors have recently modified their holdings of AMGN. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the third quarter worth $25,000. Strategic Financial Concepts LLC bought a new position in Amgen during the second quarter worth $26,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen during the third quarter valued at about $29,000. Hershey Financial Advisers LLC bought a new position in Amgen in the second quarter worth approximately $30,000. Finally, nVerses Capital LLC bought a new position in shares of Amgen in the 2nd quarter worth $31,000. Institutional investors and hedge funds 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.