Amgen (NASDAQ:AMGN) Downgraded by SVB Leerink to “Market Perform”

Amgen (NASDAQ:AMGNGet Free Report) was downgraded by investment analysts at SVB Leerink from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, FinViz reports. They currently have a $318.00 price target on the medical research company’s stock, down from their previous price target of $324.00. SVB Leerink’s target price would indicate a potential upside of 0.61% from the company’s current price.

Other research analysts have also issued research reports about the stock. Leerink Partnrs raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 11th. Truist Financial reaffirmed a “buy” rating and set a $320.00 price objective on shares of Amgen in a research report on Wednesday, November 29th. Argus upped their price objective on shares of Amgen from $280.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. BMO Capital Markets raised shares of Amgen from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $286.00 to $326.00 in a research report on Tuesday, December 19th. Finally, Bank of America began coverage on shares of Amgen in a research note on Wednesday, October 11th. They issued a “neutral” rating and a $290.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and an average target price of $291.58.

Check Out Our Latest Analysis on AMGN

Amgen Stock Down 1.8 %

Amgen stock opened at $316.07 on Wednesday. The firm has a market cap of $169.15 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 2.88 and a beta of 0.62. The company has a debt-to-equity ratio of 7.71, a current ratio of 2.86 and a quick ratio of 2.56. Amgen has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The firm has a fifty day moving average price of $293.83 and a two-hundred day moving average price of $273.50.

Amgen (NASDAQ:AMGNGet Free Report) last released its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.01. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a net margin of 28.20% and a return on equity of 165.37%. The business’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.09 EPS. As a group, analysts forecast that Amgen will post 18.61 earnings per share for the current year.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,096 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $273.03, for a total transaction of $572,270.88. Following the transaction, the senior vice president now directly owns 10,874 shares in the company, valued at $2,968,928.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amgen

Several large investors have recently bought and sold shares of AMGN. Claro Advisors LLC boosted its stake in Amgen by 6.9% in the second quarter. Claro Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $415,000 after acquiring an additional 120 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Amgen by 3.8% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,012 shares of the medical research company’s stock worth $2,445,000 after purchasing an additional 402 shares in the last quarter. Reuter James Wealth Management LLC boosted its position in shares of Amgen by 48.0% during the second quarter. Reuter James Wealth Management LLC now owns 4,363 shares of the medical research company’s stock worth $969,000 after purchasing an additional 1,416 shares in the last quarter. Nicolet Advisory Services LLC boosted its position in shares of Amgen by 4.4% during the third quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock worth $745,000 after purchasing an additional 117 shares in the last quarter. Finally, Fortune Financial Advisors LLC bought a new position in shares of Amgen during the second quarter worth $230,000. 74.44% of the stock is currently owned by institutional investors and hedge funds.

Amgen Company Profile

(Get Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Beh├žet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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