Amgen (AMGN) Earns “Buy” Rating from Mizuho

Amgen (NASDAQ:AMGN)‘s stock had its “buy” rating reissued by research analysts at Mizuho in a note issued to investors on Wednesday. They presently have a $211.00 price target on the medical research company’s stock. Mizuho’s price objective would indicate a potential upside of 13.21% from the company’s previous close.

The analysts wrote, “We also plan to unveil our buyside survey results in full detail and provide additional commentary on what we’re hearing from investors. This webinar will last 60 minutes. We will have slides (and I can’t promise a replay). Hope you can tune in. ===Ways to Access this Webinar=== 1. Link to add this webinar to your calendar ==> Click Here 2. Full-length URL (to use on day of webinar … click on it or cut/paste into your browser) ==> https://mizuhogroup.webex.com/mizuhogroup/onstage/ g.php?MTID=e55aa48dfcfbba81a9521ea1537d2ea77 3. Need audio-only cuz you’re travelling? ==> Email Me Please call / email with any questions – Salim PLEASE REFER TO PAGE 3 OF THIS REPORT FOR IMPORTANT DISCLOSURE AND ANALYST CERTIFICATION INFORMATION. Mizuho Securities USA LLC does and seeks to do business with companies covered in its research reports.””

Several other research analysts have also recently issued reports on the stock. Citigroup raised their target price on shares of Amgen from $204.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, January 4th. Royal Bank of Canada reissued a “neutral” rating and set a target price on shares of Amgen in a report on Monday, January 14th. Goldman Sachs Group reissued a “buy” rating and set a $232.00 target price on shares of Amgen in a report on Thursday, January 17th. Morgan Stanley reduced their target price on shares of Amgen from $213.00 to $212.00 and set an “overweight” rating for the company in a report on Wednesday, December 19th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $223.00 target price on shares of Amgen in a report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. Amgen currently has an average rating of “Hold” and an average price target of $205.77.

Shares of Amgen stock traded down $2.60 during trading on Wednesday, hitting $186.38. 228,042 shares of the company’s stock were exchanged, compared to its average volume of 3,386,183. The company has a debt-to-equity ratio of 2.36, a current ratio of 2.79 and a quick ratio of 2.57. Amgen has a 52-week low of $163.31 and a 52-week high of $210.19. The stock has a market cap of $119.31 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 2.06 and a beta of 1.21.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, January 29th. The medical research company reported $3.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.26 by $0.16. Amgen had a net margin of 35.35% and a return on equity of 66.74%. The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter last year, the company posted $2.89 earnings per share. As a group, equities analysts expect that Amgen will post 13.93 EPS for the current year.

In other Amgen news, SVP Cynthia M. Patton sold 1,777 shares of Amgen stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $202.88, for a total value of $360,517.76. Following the completion of the transaction, the senior vice president now owns 23,090 shares of the company’s stock, valued at $4,684,499.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $190.00, for a total transaction of $380,000.00. Following the completion of the transaction, the director now directly owns 14,988 shares of the company’s stock, valued at approximately $2,847,720. The disclosure for this sale can be found here. Insiders sold 23,777 shares of company stock valued at $4,648,718 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in AMGN. Claybrook Capital LLC acquired a new position in Amgen during the fourth quarter worth about $53,000. Cheviot Value Management LLC boosted its position in Amgen by 14.6% during the fourth quarter. Cheviot Value Management LLC now owns 1,901 shares of the medical research company’s stock worth $370,000 after acquiring an additional 242 shares during the last quarter. Achmea Investment Management B.V. boosted its position in Amgen by 0.6% during the fourth quarter. Achmea Investment Management B.V. now owns 126,323 shares of the medical research company’s stock worth $24,593,000 after acquiring an additional 785 shares during the last quarter. Delek Group Ltd. acquired a new position in Amgen during the fourth quarter worth about $1,590,000. Finally, PRW Wealth Management LLC acquired a new position in Amgen during the fourth quarter worth about $62,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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