Deutsche Bank Aktiengesellschaft Has Lowered Expectations for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price target dropped by investment analysts at Deutsche Bank Aktiengesellschaft from $305.00 to $285.00 in a research report issued to clients and investors on Wednesday. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 1.76% from the stock’s current price.

AMGN has been the subject of a number of other reports. Barclays increased their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Redburn Partners dropped their price objective on shares of Amgen from $200.00 to $195.00 in a report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Bank of America lifted their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $323.05.

Amgen Trading Up 0.0 %

Shares of NASDAQ AMGN opened at $280.07 on Wednesday. Amgen has a twelve month low of $257.80 and a twelve month high of $346.85. The stock has a market cap of $150.55 billion, a price-to-earnings ratio of 35.86, a P/E/G ratio of 2.62 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The company’s fifty day moving average is $312.46 and its 200-day moving average is $317.31.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the company posted $4.96 earnings per share. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts predict that Amgen will post 19.52 EPS for the current year.

Hedge Funds Weigh In On Amgen

A number of institutional investors have recently bought and sold shares of the business. Kennedy Capital Management LLC acquired a new position in shares of Amgen during the 1st quarter worth approximately $3,240,000. LRI Investments LLC bought a new position in Amgen during the first quarter worth $152,000. Redwood Grove Capital LLC increased its holdings in shares of Amgen by 17.2% in the first quarter. Redwood Grove Capital LLC now owns 47,687 shares of the medical research company’s stock valued at $13,558,000 after purchasing an additional 7,000 shares during the last quarter. Cetera Investment Advisers grew its stake in Amgen by 268.9% in the 1st quarter. Cetera Investment Advisers now owns 233,379 shares of the medical research company’s stock valued at $66,355,000 after buying an additional 170,108 shares during the last quarter. Finally, Cetera Advisors LLC raised its holdings in Amgen by 151.3% in the 1st quarter. Cetera Advisors LLC now owns 70,984 shares of the medical research company’s stock valued at $20,182,000 after acquiring an additional 42,739 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

About Amgen

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.