Amgen (NASDAQ:AMGN) Given Overweight Rating at Cantor Fitzgerald

by · The Cerbat Gem

Cantor Fitzgerald reissued their overweight rating on shares of Amgen (NASDAQ:AMGN – Free Report) in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a $405.00 price objective on the medical research company’s stock.

A number of other equities analysts have also issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and raised their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Argus raised their price target on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $332.55.

View Our Latest Stock Report on Amgen

Amgen Stock Performance

AMGN stock opened at $316.98 on Tuesday. The firm has a market cap of $170.04 billion, a price-to-earnings ratio of 45.28, a PEG ratio of 2.86 and a beta of 0.61. The firm has a 50-day simple moving average of $325.58 and a two-hundred day simple moving average of $313.14. Amgen has a one year low of $249.70 and a one year high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN – Get Free Report) 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 company had revenue of $8.39 billion during 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 in the previous year, the business earned $5.00 earnings per share. On average, equities analysts forecast that Amgen will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.84%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Keynote Financial Services LLC raised its holdings in shares of Amgen by 0.6% during the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after acquiring an additional 30 shares during the period. Ascent Group LLC raised its holdings in shares of Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after acquiring an additional 31 shares during the period. RFP Financial Group LLC raised its holdings in shares of Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after acquiring an additional 32 shares during the period. Hofer & Associates. Inc raised its holdings in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after acquiring an additional 32 shares during the period. Finally, Cadinha & Co. LLC raised its holdings in Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Company Profile

(Get Free Report)

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.

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