Amgen (NASDAQ:AMGN) PT Lowered to $207.00 at Morgan Stanley

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Amgen (NASDAQ:AMGN) had its target price reduced by Morgan Stanley from $211.00 to $207.00 in a research report released on Monday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the medical research company’s stock.

Several other brokerages also recently weighed in on AMGN. Oppenheimer set a $210.00 price target on Amgen and gave the company a buy rating in a report on Friday, May 24th. Credit Suisse Group began coverage on Regeneron Pharmaceuticals in a report on Monday, May 20th. They issued a neutral rating and a $336.00 price target for the company. BidaskClub upgraded Westport Fuel Systems from a hold rating to a buy rating in a report on Friday, July 12th. JPMorgan Chase & Co. reiterated a neutral rating on shares of Anglo American in a report on Wednesday, May 15th. Finally, Zacks Investment Research upgraded GreenTree Hospitality Group from a sell rating to a hold rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. Amgen has a consensus rating of Hold and a consensus target price of $208.10.

Shares of Amgen stock opened at $177.06 on Monday. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.77 and a quick ratio of 2.53. Amgen has a 1 year low of $166.30 and a 1 year high of $210.19. The firm has a market cap of $108.25 billion, a P/E ratio of 12.24, a P/E/G ratio of 2.17 and a beta of 1.16. The stock’s 50 day moving average is $179.17.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, April 30th. The medical research company reported $3.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.45 by $0.11. The company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.55 billion. Amgen had a return on equity of 71.02% and a net margin of 34.00%. Amgen’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.47 EPS. As a group, equities research analysts expect that Amgen will post 13.88 earnings per share for the current fiscal year.

In other news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $175.68, for a total transaction of $351,360.00. Following the completion of the sale, the director now directly owns 16,219 shares of the company’s stock, valued at approximately $2,849,353.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 6,000 shares of company stock valued at $1,077,980 over the last three months. Corporate insiders own 0.25% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Weaver Consulting Group purchased a new stake in Amgen during the 1st quarter worth $239,000. Commonwealth Bank of Australia boosted its position in Amgen by 19.7% during the 4th quarter. Commonwealth Bank of Australia now owns 66,961 shares of the medical research company’s stock worth $13,027,000 after purchasing an additional 11,040 shares during the period. Phocas Financial Corp. purchased a new stake in Amgen during the 4th quarter worth $117,000. Duality Advisers LP purchased a new stake in Amgen during the 4th quarter worth $3,983,000. Finally, Nordea Investment Management AB boosted its position in Amgen by 5.0% during the 1st quarter. Nordea Investment Management AB now owns 4,709,467 shares of the medical research company’s stock worth $894,700,000 after purchasing an additional 225,485 shares during the period. 77.25% of the stock is owned by institutional investors.

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, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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