Amgen’s (AMGN) “Buy” Rating Reiterated at Cann

Cann reaffirmed their buy rating on shares of Amgen Inc. (NASDAQ:AMGN) in a research note issued to investors on Friday. Cann currently has a $203.00 price target on the medical research company’s stock.

“Amgen yesterday announced that the Journal of Clinical Oncology has published positive results from the Imlygic (talimogene laherparepvec) phase II ‘264 study, demonstrating a doubling of response rate or better in the Imlygic combination arm. The data published yesterday in JCO are encouraging, and these along with results from ongoing studies could lead to unexpected adoption of Imlygic and provide upside to our sales estimates. These data demonstrated that Imlygic has a dramatic effect in combination with Yervoy, and the combination looks as strong a much of the reference data for other combinations.”,” the firm’s analyst commented.

Other analysts also recently issued reports about the company. Oppenheimer Holdings, Inc. restated an outperform rating and set a $203.00 price objective (up from $189.00) on shares of Amgen in a report on Wednesday, July 26th. BidaskClub upgraded Amgen from a buy rating to a strong-buy rating in a report on Friday, June 23rd. ValuEngine upgraded Amgen from a hold rating to a buy rating in a report on Thursday, July 6th. BMO Capital Markets downgraded Amgen from an outperform rating to a market perform rating in a report on Wednesday, July 26th. Finally, Mizuho restated a buy rating and set a $198.00 price objective (up from $183.00) on shares of Amgen in a report on Thursday, September 28th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $189.99.

Amgen (AMGN) opened at 185.82 on Friday. The stock’s 50 day moving average price is $181.33 and its 200 day moving average price is $170.23. Amgen has a 52-week low of $133.64 and a 52-week high of $191.10. The stock has a market capitalization of $135.59 billion, a price-to-earnings ratio of 16.93 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. Amgen’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.84 EPS. On average, analysts forecast that Amgen will post $12.58 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Amgen’s (AMGN) “Buy” Rating Reiterated at Cann” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://ledgergazette.com/2017/10/09/amgens-amgn-buy-rating-reiterated-at-cann.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in AMGN. Waldron LP acquired a new stake in Amgen in the 1st quarter valued at $444,000. Acadian Asset Management LLC increased its holdings in Amgen by 81.0% in the 1st quarter. Acadian Asset Management LLC now owns 4,770 shares of the medical research company’s stock valued at $784,000 after purchasing an additional 2,135 shares in the last quarter. Meritage Portfolio Management increased its holdings in Amgen by 0.5% in the 1st quarter. Meritage Portfolio Management now owns 45,730 shares of the medical research company’s stock valued at $7,503,000 after purchasing an additional 230 shares in the last quarter. NBT Bank N A NY increased its holdings in Amgen by 19.9% in the 1st quarter. NBT Bank N A NY now owns 5,565 shares of the medical research company’s stock valued at $913,000 after purchasing an additional 925 shares in the last quarter. Finally, Mycio Wealth Partners LLC increased its holdings in Amgen by 6.9% in the 1st quarter. Mycio Wealth Partners LLC now owns 5,594 shares of the medical research company’s stock valued at $918,000 after purchasing an additional 363 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

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 (filgras

“Amgen yesterday announced that the Journal of Clinical Oncology has published positive results from the Imlygic (talimogene laherparepvec) phase II ‘264 study, demonstrating a doubling of response rate or better in the Imlygic combination arm. The data published yesterday in JCO are encouraging, and these along with results from ongoing studies could lead to unexpected adoption of Imlygic and provide upside to our sales estimates. These data demonstrated that Imlygic has a dramatic effect in combination with Yervoy, and the combination looks as strong a much of the reference data for other combinations.”,” the firm’s analyst commented.

Other analysts also recently issued reports about the company. Oppenheimer Holdings, Inc. restated an outperform rating and set a $203.00 price objective (up from $189.00) on shares of Amgen in a report on Wednesday, July 26th. BidaskClub upgraded Amgen from a buy rating to a strong-buy rating in a report on Friday, June 23rd. ValuEngine upgraded Amgen from a hold rating to a buy rating in a report on Thursday, July 6th. BMO Capital Markets downgraded Amgen from an outperform rating to a market perform rating in a report on Wednesday, July 26th. Finally, Mizuho restated a buy rating and set a $198.00 price objective (up from $183.00) on shares of Amgen in a report on Thursday, September 28th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $189.99.

Amgen (AMGN) opened at 185.82 on Friday. The stock’s 50 day moving average price is $181.33 and its 200 day moving average price is $170.23. Amgen has a 52-week low of $133.64 and a 52-week high of $191.10. The stock has a market capitalization of $135.59 billion, a price-to-earnings ratio of 16.93 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. Amgen’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.84 EPS. On average, analysts forecast that Amgen will post $12.58 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Amgen’s (AMGN) “Buy” Rating Reiterated at Cann” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://ledgergazette.com/2017/10/09/amgens-amgn-buy-rating-reiterated-at-cann.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in AMGN. Waldron LP acquired a new stake in Amgen in the 1st quarter valued at $444,000. Acadian Asset Management LLC increased its holdings in Amgen by 81.0% in the 1st quarter. Acadian Asset Management LLC now owns 4,770 shares of the medical research company’s stock valued at $784,000 after purchasing an additional 2,135 shares in the last quarter. Meritage Portfolio Management increased its holdings in Amgen by 0.5% in the 1st quarter. Meritage Portfolio Management now owns 45,730 shares of the medical research company’s stock valued at $7,503,000 after purchasing an additional 230 shares in the last quarter. NBT Bank N A NY increased its holdings in Amgen by 19.9% in the 1st quarter. NBT Bank N A NY now owns 5,565 shares of the medical research company’s stock valued at $913,000 after purchasing an additional 925 shares in the last quarter. Finally, Mycio Wealth Partners LLC increased its holdings in Amgen by 6.9% in the 1st quarter. Mycio Wealth Partners LLC now owns 5,594 shares of the medical research company’s stock valued at $918,000 after purchasing an additional 363 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

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).

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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