Analysts Set Amgen Inc. (NASDAQ:AMGN) Price Target at $326.89

Amgen Inc. (NASDAQ:AMGN) has been assigned a consensus rating of “Hold” from the twenty-one ratings firms that are currently covering the firm, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $327.28.

Several brokerages have recently weighed in on AMGN. TD Cowen upped their target price on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Morgan Stanley cut their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Bank of America upped their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th.

Amgen Trading Up 1.7 %

NASDAQ AMGN opened at $325.92 on Tuesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen has a one year low of $249.70 and a one year high of $346.85. The company’s 50 day moving average price is $326.56 and its 200 day moving average price is $302.67. The firm has a market capitalization of $175.13 billion, a price-to-earnings ratio of 46.56, a PEG ratio of 2.85 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the previous year, the firm posted $5.00 EPS. The business’s revenue was up 20.1% compared to the same quarter last year. On average, sell-side analysts predict that Amgen will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is 128.57%.

Hedge Funds Weigh In On Amgen

Several institutional investors have recently modified their holdings of the company. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the second quarter valued at approximately $30,000. United Community Bank acquired a new stake in Amgen in the 4th quarter valued at approximately $29,000. Horizon Financial Services LLC bought a new stake in Amgen during the 1st quarter valued at $28,000. nVerses Capital LLC bought a new stake in Amgen during the 2nd quarter valued at $31,000. Finally, Delos Wealth Advisors LLC grew its stake in shares of Amgen by 2,500.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. 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.