UBS Group Increases Amgen (NASDAQ:AMGN) Price Target to $319.00

Amgen (NASDAQ:AMGN) had its price target boosted by analysts at UBS Group from $315.00 to $319.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. UBS Group’s price target would suggest a potential upside of 8.03% from the company’s previous close.

Several other equities research analysts have also weighed in on AMGN. Royal Bank of Canada restated an “outperform” rating and issued a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Bank of America raised their target price on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Piper Sandler boosted their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Morgan Stanley raised their price target on Amgen from $328.00 to $330.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.91.

Amgen Stock Performance

Shares of AMGN stock opened at $295.30 on Monday. The firm has a market cap of $158.77 billion, a P/E ratio of 39.11, a PEG ratio of 2.63 and a beta of 0.59. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The stock’s 50-day moving average is $304.00 and its two-hundred day moving average is $294.91.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 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%. Analysts predict that Amgen will post 20.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In other Amgen news, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock worth $20,644,335 over the last ninety days. Corporate insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Amgen

Large investors have recently modified their holdings of the stock. Centricity Wealth Management LLC bought a new position in Amgen in the 4th quarter valued at $25,000. Pinney & Scofield Inc. acquired a new position in shares of Amgen during the fourth quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 51 shares during the last quarter. Synergy Investment Management LLC acquired a new stake in Amgen in the fourth quarter worth about $34,000. Finally, Atala Financial Inc bought a new stake in Amgen during the 4th quarter worth about $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

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.