Amgen’s (AMGN) “Buy” Rating Reiterated at Jefferies Group LLC

Amgen Inc. (NASDAQ:AMGN)‘s stock had its “buy” rating reissued by equities researchers at Jefferies Group LLC in a note issued to investors on Monday, July 17th. They presently have a $195.00 target price on the medical research company’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 15.09% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Mizuho set a $195.00 price target on Amgen and gave the company a “buy” rating in a research note on Saturday, May 6th. UBS AG reiterated a “neutral” rating and set a $174.00 price objective (down from $175.00) on shares of Amgen in a research note on Monday, May 22nd. BMO Capital Markets reiterated a “buy” rating and set a $198.00 price objective (down from $200.00) on shares of Amgen in a research note on Monday, May 22nd. Leerink Swann restated a “market perform” rating and issued a $161.00 price target on shares of Amgen in a research note on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $189.00 price target on shares of Amgen in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $186.64.

Amgen (NASDAQ:AMGN) traded up 0.19% during midday trading on Monday, reaching $169.43. 1,571,584 shares of the company’s stock traded hands. The firm has a market cap of $123.63 billion, a price-to-earnings ratio of 15.43 and a beta of 1.35. The stock’s 50 day moving average price is $174.48 and its 200 day moving average price is $167.49. Amgen has a 1-year low of $133.64 and a 1-year high of $184.21.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The business had revenue of $5.81 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same quarter in the previous year, the firm earned $2.84 EPS. Amgen’s revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Amgen will post $12.57 EPS for the current year.

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

A number of hedge funds have recently bought and sold shares of the stock. Veritable L.P. increased its stake in Amgen by 13.5% in the second quarter. Veritable L.P. now owns 29,522 shares of the medical research company’s stock valued at $5,085,000 after buying an additional 3,508 shares in the last quarter. OxFORD Asset Management LLP increased its position in shares of Amgen by 42.2% in the second quarter. OxFORD Asset Management LLP now owns 16,946 shares of the medical research company’s stock worth $2,919,000 after buying an additional 5,030 shares during the period. Evercore Wealth Management LLC increased its position in shares of Amgen by 13.1% in the second quarter. Evercore Wealth Management LLC now owns 14,334 shares of the medical research company’s stock worth $2,469,000 after buying an additional 1,656 shares during the period. Ally Financial Inc. increased its position in shares of Amgen by 108.3% in the second quarter. Ally Financial Inc. now owns 25,000 shares of the medical research company’s stock worth $4,306,000 after buying an additional 13,000 shares during the period. Finally, Global Endowment Management LP acquired a new position in shares of Amgen during the second quarter worth about $3,393,000. 79.53% of the stock is owned by hedge funds and other institutional investors.

Amgen Company Profile

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).

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