TD Cowen Lowers Amgen (NASDAQ:AMGN) Price Target to $360.00

Amgen (NASDAQ:AMGN) had its target price lowered by analysts at TD Cowen from $370.00 to $360.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. TD Cowen’s price target would indicate a potential upside of 37.01% from the stock’s previous close.

Several other equities research analysts also recently weighed in on AMGN. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 target price on shares of Amgen in a research note on Thursday, February 1st. The Goldman Sachs Group increased their price objective on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $329.00 price objective on shares of Amgen in a research report on Wednesday, April 3rd. Morgan Stanley dropped their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Finally, Truist Financial reissued a “buy” rating and issued a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $296.95.

Amgen Stock Performance

Shares of AMGN stock opened at $262.75 on Wednesday. Amgen has a one year low of $211.71 and a one year high of $329.72. The firm’s 50 day moving average price is $277.34 and its 200-day moving average price is $281.24. The firm has a market cap of $140.81 billion, a P/E ratio of 21.04, a P/E/G ratio of 2.47 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the prior year, the firm earned $4.09 EPS. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, equities research analysts predict that Amgen will post 19.46 EPS for the current year.

Institutional Trading of Amgen

A number of large investors have recently bought and sold shares of the business. Roundview Capital LLC lifted its stake in shares of Amgen by 1.3% in the 1st quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock worth $2,027,000 after acquiring an additional 107 shares during the period. Merit Financial Group LLC lifted its stake in shares of Amgen by 39.2% in the 1st quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock worth $555,000 after acquiring an additional 647 shares during the period. Ergoteles LLC acquired a new stake in shares of Amgen in the 1st quarter worth $219,000. First Western Trust Bank acquired a new stake in shares of Amgen in the 1st quarter worth $334,000. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in shares of Amgen by 2.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock worth $5,970,000 after acquiring an additional 513 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

About Amgen

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.