Amgen (NASDAQ:AMGN) was downgraded by analysts at Citigroup to a “neutral” rating in a research report issued to clients and investors on Monday.
Several other brokerages have also commented on AMGN. Mizuho reaffirmed a “buy” rating and issued a $198.00 price objective (up previously from $183.00) on shares of Amgen in a research report on Thursday, September 28th. BMO Capital Markets reaffirmed a “hold” rating and issued a $198.00 price objective on shares of Amgen in a research report on Friday, October 20th. Jefferies Group reissued a “buy” rating and issued a $200.00 price target on shares of Amgen in a research report on Monday, September 25th. Royal Bank of Canada initiated coverage on shares of Amgen in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price target on the stock. Finally, Barclays boosted their price target on shares of Amgen from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Amgen presently has an average rating of “Hold” and an average price target of $190.22.
Shares of Amgen (NASDAQ AMGN) opened at $177.04 on Monday. The company has a market cap of $128,515.28, a PE ratio of 14.07, a price-to-earnings-growth ratio of 2.57 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. Amgen has a 12-month low of $145.12 and a 12-month high of $191.10.
Amgen declared that its board has approved a share buyback program on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $176.83, for a total value of $269,665.75. Following the completion of the transaction, the executive vice president now owns 56,106 shares of the company’s stock, valued at approximately $9,921,223.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The disclosure for this sale can be found here. In the last three months, insiders sold 8,575 shares of company stock valued at $1,509,339. Corporate insiders own 0.19% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. TrimTabs Asset Management LLC boosted its stake in shares of Amgen by 88.9% in the 1st quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after purchasing an additional 288 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new stake in shares of Amgen in the 3rd quarter valued at $108,000. Jackson Grant Investment Advisers Inc. boosted its stake in shares of Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after purchasing an additional 5 shares in the last quarter. Phocas Financial Corp. purchased a new stake in shares of Amgen in the 2nd quarter valued at $110,000. Finally, Omnia Family Wealth LLC raised its holdings in Amgen by 25.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after buying an additional 147 shares during the last quarter. 78.62% of the stock is owned by institutional investors and hedge funds.
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Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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