Amgen (NASDAQ:AMGN) Upgraded at StockNews.com

Amgen (NASDAQ:AMGN) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

AMGN has been the topic of several other research reports. Bank of America boosted their price objective on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 5th. Johnson Rice set a $294.00 price target on Amgen in a research report on Wednesday, March 5th. Royal Bank of Canada restated an “outperform” rating and issued a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Citigroup reiterated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Truist Financial cut their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $315.22.

Amgen Trading Down 3.3 %

AMGN opened at $281.41 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen has a 52 week low of $253.30 and a 52 week high of $346.85. The stock has a market cap of $151.17 billion, a PE ratio of 37.27, a PEG ratio of 2.63 and a beta of 0.59. The business has a 50 day moving average of $304.39 and a 200-day moving average of $295.46.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Equities research analysts predict that Amgen will post 20.62 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock valued at $20,644,335 in the last quarter. 0.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amgen

A number of hedge funds have recently modified their holdings of the company. Capital World Investors grew its position in shares of Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares in the last quarter. Norges Bank bought a new position in Amgen in the 4th quarter worth approximately $1,541,991,000. GAMMA Investing LLC boosted its stake in Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after purchasing an additional 3,653,205 shares during the period. Capital International Investors raised its position in shares of Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after buying an additional 3,495,503 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after buying an additional 2,672,975 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

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.