Amgen (NASDAQ:AMGN) Upgraded to “Outperform” at William Blair

Amgen (NASDAQ:AMGN) was upgraded by research analysts at William Blair from a “market perform” rating to an “outperform” rating in a research report issued on Friday, Briefing.com reports.

Several other analysts have also issued reports on AMGN. Truist Financial reaffirmed a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. TD Cowen cut their target price on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Finally, Raymond James assumed coverage on Amgen in a research note on Thursday, March 28th. They set a “market perform” rating for the company. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $300.90.

Amgen Stock Up 0.4 %

Shares of NASDAQ AMGN opened at $278.39 on Friday. The company has a 50 day simple moving average of $274.51 and a 200 day simple moving average of $281.33. The firm has a market cap of $149.32 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.65 and a beta of 0.60. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. Amgen has a 1 year low of $211.71 and a 1 year high of $329.72.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same period in the previous year, the business posted $4.09 EPS. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, research analysts forecast that Amgen will post 19.43 EPS for the current year.

Hedge Funds Weigh In On Amgen

Several institutional investors have recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Amgen by 1.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock worth $3,133,000 after purchasing an additional 193 shares during the period. Diversified Trust Co increased its position in shares of Amgen by 76.8% during the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock valued at $10,857,000 after acquiring an additional 16,376 shares in the last quarter. Nicolet Advisory Services LLC grew its position in Amgen by 4.4% in the 3rd 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 during the period. Platform Technology Partners boosted its stake in shares of Amgen by 7.4% during the 3rd quarter. Platform Technology Partners now owns 5,830 shares of the medical research company’s stock worth $1,567,000 after acquiring an additional 402 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Amgen by 2.4% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock worth $1,363,000 after acquiring an additional 109 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

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.