Amgen (NASDAQ:AMGN) Price Target Cut to $195.00 by Analysts at Redburn Partners

Amgen (NASDAQ:AMGN) had its price target dropped by equities researchers at Redburn Partners from $200.00 to $195.00 in a research note issued to investors on Wednesday. Redburn Partners’ price objective would suggest a potential downside of 30.36% from the company’s current price.

A number of other brokerages have also issued reports on AMGN. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Oppenheimer reissued an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Sanford C. Bernstein assumed coverage on shares of Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. Bank of America upped their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Barclays lifted their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $325.09.

Amgen Trading Down 4.8 %

NASDAQ:AMGN traded down $13.99 on Wednesday, reaching $280.01. The stock had a trading volume of 17,010,332 shares, compared to its average volume of 3,139,351. Amgen has a 12-month low of $257.80 and a 12-month high of $346.85. The company has a market cap of $150.51 billion, a price-to-earnings ratio of 35.85, a P/E/G ratio of 2.62 and a beta of 0.60. The firm’s fifty day moving average is $314.64 and its two-hundred day moving average is $317.84. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the business earned $4.96 earnings per share. Amgen’s revenue was up 23.2% compared to the same quarter last year. Equities analysts expect that Amgen will post 19.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Amgen

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in shares of Amgen during the 3rd quarter valued at approximately $25,000. Strategic Financial Concepts LLC bought a new position in shares of Amgen in the 2nd quarter worth about $26,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the 3rd quarter valued at about $29,000. Hershey Financial Advisers LLC acquired a new position in Amgen in the second quarter valued at approximately $30,000. Finally, nVerses Capital LLC bought a new position in shares of Amgen during the second quarter valued at approximately $31,000. Institutional investors 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.