Amgen (NASDAQ:AMGN) Rating Increased to Strong-Buy at Dbs Bank

Amgen (NASDAQ:AMGN) was upgraded by equities research analysts at Dbs Bank to a “strong-buy” rating in a report released on Monday, Zacks.com reports.

AMGN has been the subject of several other reports. Argus lifted their price objective on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Royal Bank of Canada boosted their price objective on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Morgan Stanley dropped their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Finally, TD Cowen boosted their target price on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Trading Up 0.9 %

NASDAQ AMGN opened at $335.95 on Monday. Amgen has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock’s fifty day moving average price is $329.44 and its 200-day moving average price is $305.22. The stock has a market cap of $180.22 billion, a P/E ratio of 47.99, a P/E/G ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the company posted $5.00 earnings per share. As a group, equities analysts forecast that Amgen will post 19.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMGN. Aveo Capital Partners LLC raised its position in shares of Amgen by 19.9% during the 4th quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock valued at $786,000 after purchasing an additional 453 shares during the period. Gryphon Financial Partners LLC raised its holdings in Amgen by 295.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock valued at $1,021,000 after acquiring an additional 2,752 shares during the period. Clearbridge Investments LLC raised its holdings in Amgen by 2.5% during the fourth quarter. Clearbridge Investments LLC now owns 103,117 shares of the medical research company’s stock valued at $29,700,000 after acquiring an additional 2,552 shares during the period. Oak Harbor Wealth Partners LLC lifted its position in shares of Amgen by 35.5% in the fourth quarter. Oak Harbor Wealth Partners LLC now owns 1,369 shares of the medical research company’s stock valued at $394,000 after acquiring an additional 359 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Amgen by 0.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 120,997 shares of the medical research company’s stock worth $34,850,000 after acquiring an additional 992 shares during the period. 76.50% of the stock is currently owned by institutional investors.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.