Amgen (NASDAQ:AMGN) Given New $217.00 Price Target at Royal Bank of Canada

Amgen (NASDAQ:AMGN) had its price objective decreased by analysts at Royal Bank of Canada from $220.00 to $217.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the medical research company’s stock. Royal Bank of Canada’s target price indicates a potential downside of 11.57% from the company’s previous close.

A number of other equities analysts also recently commented on AMGN. JPMorgan Chase & Co. restated a “neutral” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, April 28th. Morgan Stanley reduced their price objective on shares of Amgen from $281.00 to $278.00 and set an “overweight” rating for the company in a research note on Monday. Evercore ISI restated a “buy” rating on shares of Amgen in a research note on Thursday, April 29th. BMO Capital Markets reduced their price objective on shares of Amgen from $301.00 to $296.00 and set an “outperform” rating for the company in a research note on Wednesday, April 28th. Finally, Oppenheimer cut their target price on shares of Amgen from $275.00 to $265.00 and set an “outperform” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. Amgen currently has a consensus rating of “Hold” and a consensus target price of $255.62.

Shares of AMGN opened at $245.38 on Tuesday. The company has a market capitalization of $141.29 billion, a P/E ratio of 19.79, a PEG ratio of 1.90 and a beta of 0.76. The company has a debt-to-equity ratio of 3.12, a current ratio of 2.28 and a quick ratio of 1.88. Amgen has a one year low of $210.28 and a one year high of $276.69. The business’s 50 day simple moving average is $248.86 and its 200-day simple moving average is $236.11.

Amgen (NASDAQ:AMGN) last announced its earnings results on Monday, April 26th. The medical research company reported $3.70 EPS for the quarter, missing the consensus estimate of $4.05 by ($0.35). Amgen had a return on equity of 95.55% and a net margin of 29.42%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.30 billion. During the same period in the previous year, the firm earned $4.17 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Amgen will post 16.15 EPS for the current fiscal year.

In related news, Director Ronald D. Sugar sold 1,000 shares of Amgen stock in a transaction that occurred on Wednesday, April 14th. The shares were sold at an average price of $249.98, for a total value of $249,980.00. Following the transaction, the director now directly owns 16,927 shares of the company’s stock, valued at $4,231,411.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Sanders Williams sold 250 shares of the firm’s stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $237.99, for a total transaction of $59,497.50. Following the completion of the sale, the director now owns 4,659 shares in the company, valued at approximately $1,108,795.41. The disclosure for this sale can be found here. Insiders sold 14,360 shares of company stock worth $3,407,034 over the last three months. 0.36% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Sage Rhino Capital LLC lifted its holdings in shares of Amgen by 5.5% during the first quarter. Sage Rhino Capital LLC now owns 2,449 shares of the medical research company’s stock worth $609,000 after purchasing an additional 127 shares during the period. Ascension Asset Management LLC acquired a new position in shares of Amgen during the first quarter worth $1,740,000. Ieq Capital LLC lifted its holdings in shares of Amgen by 59.0% during the first quarter. Ieq Capital LLC now owns 20,965 shares of the medical research company’s stock worth $5,216,000 after purchasing an additional 7,782 shares during the period. Valmark Advisers Inc. lifted its holdings in shares of Amgen by 7.2% during the first quarter. Valmark Advisers Inc. now owns 7,033 shares of the medical research company’s stock worth $1,750,000 after purchasing an additional 473 shares during the period. Finally, Savant Capital LLC lifted its holdings in shares of Amgen by 189.4% during the first quarter. Savant Capital LLC now owns 28,545 shares of the medical research company’s stock worth $7,102,000 after purchasing an additional 18,680 shares during the period. Hedge funds and other institutional investors own 75.23% of the company’s stock.

Amgen Company Profile

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, BLINCYTO, Corlanor, ENBREL, EPOGEN, IMLYGIC, KYPROLIS, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, and XGEVA.

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