Amgen (NASDAQ:AMGN)‘s stock had its “buy” rating restated by equities research analysts at Cann in a research report issued on Friday, June 8th.
The analysts wrote, “The timing of this EC approval of Prolia in GIOP is in line with our expectations, following FDA approval in this setting in May 2018. in GIOP in the EU supports our expectations for Prolia sales through 2022. With this approval, patients who receive treatment with glucocorticoids, who need options to improve their bone mineral density, provide a new addressable market for Prolia. Prolia is in its eighth year of launch, and has achieved an estimated market penetration of greater than 60%. We anticipate Prolia sales will increase to $2.75 billion in 2022 from $1.97 billion in 2017 and will account for 8.4% of sales.””
Several other equities analysts have also recently issued reports on the stock. TheStreet upgraded shares of Amgen from a “c+” rating to a “b-” rating in a research note on Friday, May 25th. BidaskClub upgraded shares of Amgen from a “sell” rating to a “hold” rating in a research note on Friday, May 25th. Mizuho set a $200.00 target price on shares of Amgen and gave the company a “buy” rating in a research note on Tuesday, May 15th. Morgan Stanley lowered their target price on shares of Amgen from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 25th. Finally, Royal Bank of Canada lowered their target price on shares of Amgen to $183.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $194.77.
AMGN stock traded up $0.21 during trading on Friday, hitting $185.36. 60,580 shares of the stock traded hands, compared to its average volume of 2,741,705. Amgen has a 1 year low of $163.31 and a 1 year high of $201.23. The company has a market capitalization of $122.51 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 2.30 and a beta of 1.38. The company has a debt-to-equity ratio of 2.14, a quick ratio of 3.60 and a current ratio of 3.88.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, April 24th. The medical research company reported $3.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.23. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.44 billion. Amgen had a net margin of 9.67% and a return on equity of 35.80%. Amgen’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.15 EPS. research analysts predict that Amgen will post 13.67 earnings per share for the current fiscal year.
In other news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $174.10, for a total value of $265,502.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 4,575 shares of company stock worth $809,851 in the last quarter. Company insiders own 0.19% of the company’s stock.
Several large investors have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Amgen by 110.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock worth $113,000 after acquiring an additional 340 shares during the period. Braun Bostich & Associates Inc. bought a new stake in Amgen during the 1st quarter worth approximately $113,000. WealthTrust Fairport LLC bought a new stake in Amgen during the 1st quarter worth approximately $121,000. Taylor Hoffman Wealth Management bought a new stake in Amgen during the 4th quarter worth approximately $127,000. Finally, Cornerstone Advisors Inc. raised its stake in Amgen by 76.5% during the 1st quarter. Cornerstone Advisors Inc. now owns 729 shares of the medical research company’s stock worth $124,000 after acquiring an additional 316 shares during the period. Hedge funds and other institutional investors own 78.27% of the company’s stock.
Amgen Company Profile
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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