Analysts Set Amgen Inc. (NASDAQ:AMGN) Target Price at $333.57

Amgen Inc. (NASDAQ:AMGN) has earned an average recommendation of “Hold” from the twenty-six research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $333.57.

Several analysts have weighed in on the company. Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. UBS Group lowered their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Sanford C. Bernstein initiated coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target on the stock. Wolfe Research initiated coverage on Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Barclays raised their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th.

Institutional Investors Weigh In On Amgen

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in Amgen in the third quarter worth approximately $25,000. Strategic Financial Concepts LLC purchased a new position in Amgen during the second quarter valued at $26,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the third quarter valued at about $29,000. Hershey Financial Advisers LLC purchased a new stake in Amgen in the second quarter worth about $30,000. Finally, nVerses Capital LLC bought a new position in shares of Amgen in the second quarter worth about $31,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $294.53 on Friday. The firm has a 50 day moving average of $316.52 and a 200-day moving average of $318.11. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm has a market capitalization of $158.32 billion, a P/E ratio of 37.71, a price-to-earnings-growth ratio of 2.59 and a beta of 0.60. Amgen has a 12 month low of $260.68 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the business earned $4.96 EPS. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, sell-side analysts predict that Amgen will post 19.52 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.