Vetr Inc. Upgrades Amgen Inc. (AMGN) to Strong-Buy

Amgen Inc. (NASDAQ:AMGN) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Thursday, May 11th. The brokerage currently has a $179.72 price objective on the medical research company’s stock. Vetr‘s target price points to a potential upside of 10.65% from the stock’s previous close.

A number of other equities analysts also recently commented on AMGN. Oppenheimer Holdings, Inc. set a $166.00 price objective on shares of Amgen and gave the stock a “buy” rating in a research note on Friday, January 27th. Bank of America Corporation raised shares of Amgen from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $156.68 to $192.00 in a research note on Wednesday, February 1st. Royal Bank of Canada set a $190.00 price objective on shares of Amgen and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Cann reissued a “buy” rating and issued a $175.00 price objective on shares of Amgen in a research note on Friday, February 3rd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $194.00 price target (down from $198.00) on shares of Amgen in a research report on Friday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Amgen presently has an average rating of “Buy” and an average price target of $185.49.

Analyst Recommendations for Amgen (NASDAQ:AMGN)

Amgen (AMGN) traded down 1.03% during mid-day trading on Thursday, hitting $162.42. The company had a trading volume of 6,855 shares. Amgen has a 1-year low of $133.64 and a 1-year high of $184.21. The company has a 50 day moving average of $160.17 and a 200 day moving average of $160.72. The firm has a market capitalization of $119.44 billion, a PE ratio of 15.43 and a beta of 1.37.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, April 26th. The medical research company reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.15. The company had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.60 billion. Amgen had a net margin of 34.42% and a return on equity of 29.37%. Amgen’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.90 earnings per share. Analysts predict that Amgen will post $12.43 earnings per share for the current fiscal year.

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In other Amgen news, SVP Cynthia M. Patton sold 2,922 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total value of $451,156.80. Following the sale, the senior vice president now directly owns 24,214 shares of the company’s stock, valued at $3,738,641.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of AMGN. TrimTabs Asset Management LLC increased its position in shares of Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after buying an additional 288 shares during the period. New York Life Trust Co. increased its position in shares of Amgen by 54.8% in the third quarter. New York Life Trust Co. now owns 624 shares of the medical research company’s stock worth $104,000 after buying an additional 221 shares during the period. Alpha Omega Wealth Management LLC increased its position in shares of Amgen by 19.0% in the first quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock worth $103,000 after buying an additional 100 shares during the period. Jackson Grant Investment Advisers Inc. increased its position in shares of Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock worth $104,000 after buying an additional 4 shares during the period. Finally, American Beacon Advisors Inc. purchased a new position in shares of Amgen during the first quarter worth $106,000. 78.86% of the stock is currently owned by institutional investors.

About Amgen

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

To view Vetr’s full report, visit Vetr’s official website.

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