Amgen (NASDAQ:AMGN) PT Raised to $279.00 at Cantor Fitzgerald

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Amgen (NASDAQ:AMGN) had its price objective increased by Cantor Fitzgerald from $263.00 to $279.00 in a research note published on Wednesday morning, The Fly reports. Cantor Fitzgerald currently has an overweight rating on the medical research company’s stock. Cantor Fitzgerald also issued estimates for Amgen’s FY2020 earnings at $15.70 EPS and FY2021 earnings at $16.19 EPS.

A number of other equities research analysts have also recently commented on the company. Bank of America lifted their target price on Amgen from $250.00 to $265.00 and gave the stock a buy rating in a research note on Friday, May 1st. Wells Fargo & Co lifted their target price on Amgen from $220.00 to $237.00 and gave the stock an equal weight rating in a research note on Friday, May 1st. Barclays lifted their target price on Amgen from $245.00 to $250.00 and gave the stock an equal weight rating in a research note on Wednesday. Cfra lifted their target price on Amgen from $223.00 to $259.00 and gave the stock a buy rating in a research note on Friday, May 1st. Finally, Piper Sandler lifted their target price on Amgen from $255.00 to $270.00 and gave the stock an overweight rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eighteen have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $253.15.

Shares of NASDAQ:AMGN opened at $244.67 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 1.28 and a debt-to-equity ratio of 3.20. The stock’s fifty day simple moving average is $244.08 and its two-hundred day simple moving average is $227.31. Amgen has a 1-year low of $177.05 and a 1-year high of $264.97. The stock has a market cap of $143.93 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 2.09 and a beta of 0.94.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, July 28th. The medical research company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $3.81 by $0.44. Amgen had a return on equity of 91.98% and a net margin of 30.04%. The business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period last year, the business earned $3.97 EPS. The business’s revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts forecast that Amgen will post 15.62 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be given a $1.60 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $6.40 dividend on an annualized basis and a yield of 2.62%. Amgen’s payout ratio is 43.18%.

In related news, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $237.31, for a total value of $100,856.75. Following the completion of the sale, the director now owns 5,834 shares in the company, valued at approximately $1,384,466.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald D. Sugar sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $259.79, for a total value of $259,790.00. Following the completion of the sale, the director now owns 16,589 shares of the company’s stock, valued at approximately $4,309,656.31. The disclosure for this sale can be found here. Insiders sold a total of 3,425 shares of company stock valued at $818,457 in the last 90 days. 0.36% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in AMGN. Clearbridge Investments LLC lifted its position in Amgen by 151.2% in the first quarter. Clearbridge Investments LLC now owns 4,118,757 shares of the medical research company’s stock valued at $834,996,000 after purchasing an additional 2,478,922 shares during the last quarter. APG Asset Management N.V. lifted its position in Amgen by 298.8% in the first quarter. APG Asset Management N.V. now owns 1,741,626 shares of the medical research company’s stock valued at $294,673,000 after purchasing an additional 1,304,921 shares during the last quarter. Advisor Group Holdings Inc. bought a new stake in Amgen in the first quarter valued at approximately $38,885,000. Capital International Investors lifted its position in Amgen by 19.6% in the first quarter. Capital International Investors now owns 5,700,387 shares of the medical research company’s stock valued at $1,155,642,000 after purchasing an additional 933,191 shares during the last quarter. Finally, American International Group Inc. lifted its position in Amgen by 309.4% in the first quarter. American International Group Inc. now owns 1,148,747 shares of the medical research company’s stock valued at $232,885,000 after purchasing an additional 868,178 shares during the last quarter. Hedge funds and other institutional investors own 75.73% of the company’s stock.

Amgen Company Profile

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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