Amgen (NASDAQ:AMGN) Price Target Lowered to $200.00 at Credit Suisse Group

Posted by on Jul 13th, 2023

Amgen (NASDAQ:AMGN – Free Report) had its price objective lowered by Credit Suisse Group from $220.00 to $200.00 in a research report sent to investors on Wednesday morning, FlyOnTheWall reports.

A number of other equities analysts have also recently issued reports on the company. Piper Sandler cut their target price on Amgen from $293.00 to $288.00 in a report on Friday, April 28th. Jefferies Financial Group dropped their price objective on Amgen from $325.00 to $275.00 in a research note on Friday, July 7th. Barclays dropped their price objective on Amgen from $225.00 to $210.00 in a research note on Tuesday. Mizuho raised their price objective on Amgen from $208.00 to $214.00 in a research note on Wednesday, May 3rd. Finally, Oppenheimer dropped their price objective on Amgen from $292.00 to $290.00 and set an outperform rating on the stock in a research note on Monday, April 24th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $249.71.

Amgen Stock Performance

Shares of AMGN stock opened at $225.68 on Wednesday. The company has a market cap of $120.59 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.72 and a beta of 0.63. Amgen has a 52 week low of $211.71 and a 52 week high of $296.67. The company has a quick ratio of 2.79, a current ratio of 3.14 and a debt-to-equity ratio of 11.36. The firm has a 50 day moving average of $224.66 and a 200-day moving average of $239.07.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings data on Thursday, April 27th. The medical research company reported $3.98 EPS for the quarter, topping the consensus estimate of $3.84 by $0.14. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.18 billion. Amgen had a net margin of 30.23% and a return on equity of 248.47%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.25 EPS. On average, equities analysts forecast that Amgen will post 18.12 earnings per share for the current year.

Institutional Investors Weigh In On Amgen

Large investors have recently added to or reduced their stakes in the company. Roundview Capital LLC lifted its position in Amgen by 1.3% in the 1st quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock worth $2,027,000 after buying an additional 107 shares during the last quarter. Merit Financial Group LLC lifted its position in Amgen by 39.2% in the 1st quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock worth $555,000 after buying an additional 647 shares during the last quarter. Ergoteles LLC bought a new stake in Amgen in the 1st quarter worth approximately $219,000. First Western Trust Bank bought a new stake in Amgen in the first quarter valued at approximately $334,000. Finally, Fuller & Thaler Asset Management Inc. lifted its position in Amgen by 2.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock valued at $5,970,000 after purchasing an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

About Amgen

(Get Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

Read More

Analyst Recommendations for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.