Amgen (NASDAQ:AMGN) Earns “Neutral” Rating from Cantor Fitzgerald

Amgen (NASDAQ:AMGN)‘s stock had its “neutral” rating reissued by investment analysts at Cantor Fitzgerald in a research report issued on Tuesday,Benzinga reports. They currently have a $305.00 price objective on the medical research company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 8.79% from the company’s previous close.

AMGN has been the topic of several other research reports. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. UBS Group reiterated a “neutral” rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Johnson Rice set a $294.00 price objective on Amgen in a research report on Wednesday, March 5th. Mizuho lifted their price objective on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $309.22.

Amgen Stock Performance

Shares of AMGN stock opened at $280.35 on Tuesday. The firm has a market capitalization of $150.75 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 2.51 and a beta of 0.51. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The business’s 50-day moving average price is $280.99 and its 200-day moving average price is $286.00. Amgen has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period last year, the company earned $3.96 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts forecast that Amgen will post 20.62 EPS for the current year.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amgen

Hedge funds have recently added to or reduced their stakes in the stock. Beck Mack & Oliver LLC lifted its holdings in shares of Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock valued at $1,205,000 after purchasing an additional 34 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock worth $1,343,000 after acquiring an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC grew its stake in shares of Amgen by 1.5% in the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock worth $759,000 after acquiring an additional 35 shares in the last quarter. Trillium Asset Management LLC grew its position in Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after purchasing an additional 37 shares in the last quarter. Finally, Affinity Capital Advisors LLC increased its stake in Amgen by 4.5% in the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock valued at $246,000 after buying an additional 37 shares during the last quarter. 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.