Sanford C. Bernstein began coverage on shares of Amgen (NASDAQ:AMGN) in a report issued on Monday, The Fly reports. The firm issued an outperform rating on the medical research company’s stock.
A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada reiterated a hold rating on shares of Amgen in a research report on Monday, September 30th. BMO Capital Markets set a $240.00 price target on shares of Amgen and gave the stock a buy rating in a research note on Monday, September 30th. Evercore ISI restated a hold rating on shares of Amgen in a report on Sunday, August 11th. Citigroup restated a buy rating on shares of Amgen in a report on Monday, August 12th. Finally, Credit Suisse Group restated an outperform rating and set a $225.00 price objective (up previously from $202.00) on shares of Amgen in a report on Friday, August 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $217.41.
AMGN stock traded up $0.89 during mid-day trading on Monday, reaching $203.78. 339,023 shares of the company’s stock were exchanged, compared to its average volume of 2,233,010. The company has a market cap of $120.42 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 2.61 and a beta of 1.11. The stock’s 50 day moving average is $199.57 and its 200 day moving average is $186.50. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.89 and a quick ratio of 2.60. Amgen has a 12-month low of $166.30 and a 12-month high of $211.90.
In other Amgen news, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total transaction of $77,792.00. Following the sale, the director now directly owns 16,336 shares of the company’s stock, valued at $2,990,141.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $193.58, for a total transaction of $387,160.00. Following the completion of the transaction, the director now directly owns 16,436 shares in the company, valued at $3,181,680.88. The disclosure for this sale can be found here. Insiders sold 17,851 shares of company stock valued at $3,671,900 in the last quarter. Corporate insiders own 0.25% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Nuveen Asset Management LLC raised its holdings in shares of Amgen by 1,334.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,942,807 shares of the medical research company’s stock valued at $910,860,000 after purchasing an additional 4,598,329 shares in the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of Amgen by 19,447.3% during the second quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock worth $180,539,000 after buying an additional 1,796,156 shares during the last quarter. BlackRock Inc. raised its stake in shares of Amgen by 3.4% during the second quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock worth $8,793,346,000 after buying an additional 1,585,911 shares during the last quarter. Ruffer LLP bought a new stake in shares of Amgen during the second quarter worth approximately $192,788,000. Finally, Beutel Goodman & Co Ltd. raised its stake in shares of Amgen by 50.5% during the second quarter. Beutel Goodman & Co Ltd. now owns 1,100,511 shares of the medical research company’s stock worth $154,859,000 after buying an additional 369,142 shares during the last quarter. 76.32% of the stock is currently owned by institutional investors.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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