Amgen (NASDAQ:AMGN) Downgraded by StockNews.com

Amgen (NASDAQ:AMGN) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Other analysts have also recently issued research reports about the stock. SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $324.00 to $318.00 in a research report on Wednesday, February 7th. Morgan Stanley decreased their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. BMO Capital Markets upgraded shares of Amgen from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $286.00 to $326.00 in a report on Tuesday, December 19th. Royal Bank of Canada upped their price objective on shares of Amgen from $303.00 to $329.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, Oppenheimer reiterated an “outperform” rating and set a $350.00 target price on shares of Amgen in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average target price of $295.30.

Amgen Price Performance

AMGN stock traded down $1.98 during midday trading on Thursday, reaching $284.32. 2,288,855 shares of the company’s stock traded hands, compared to its average volume of 3,040,904. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The company has a market cap of $152.37 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.66 and a beta of 0.58. The company has a 50-day simple moving average of $290.09 and a two-hundred day simple moving average of $280.70. Amgen has a 1-year low of $211.71 and a 1-year high of $329.72.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the previous year, the business posted $4.09 earnings per share. On average, analysts anticipate that Amgen will post 19.49 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. OFI Invest Asset Management bought a new position in shares of Amgen during the 3rd quarter worth approximately $26,000. Briaud Financial Planning Inc bought a new stake in Amgen in the third quarter valued at $26,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Amgen during the first quarter valued at about $28,000. VisionPoint Advisory Group LLC bought a new stake in Amgen during the 2nd quarter valued at $28,000. Finally, BOK Financial Private Wealth Inc. acquired a new position in shares of Amgen during the fourth quarter valued at about $29,000. 76.50% of the stock is owned by institutional investors.

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.