Amgen, Inc. (NASDAQ:AMGN) and the Center for Social Sector Leadership at the University of California (UC), Berkeley’s Haas School of Business today announced a multi-year partnership to offer a graduate-level course on measuring outcomes of cancer patient advocacy education and support programs. The MBA course, Social Impact Metrics, is designed to advance the ability of nonprofit organizations to measure the effectiveness of their programs, which is critical in an increasingly challenging donor environment. The overall goal of the initiative is to create a set of measurement best practices that can be adopted across the cancer nonprofit community and beyond.
Amgen has awarded four cancer patient advocacy groups – Bladder Cancer Advocacy Network, Cancer Support Community, Chris4Life Colon Cancer Foundation and Critical Mass – with $35,000 sponsorships to measure the impact of an educational or support initiative. The Berkeley MBA students and faculty will work with the winners to evaluate a specific metrics challenge, recommend a solution, and provide an implementation plan during the semester-long course from August to December 2015.
“Establishing meaningful metrics is critical for nonprofits to improve their impact on the lives of those they serve and demonstrate results to funders,” said Colin Boyle, deputy director of University of California, San Francisco Global Health Services and the Haas faculty member who will be teaching this course.
The partnership was formed based on the results of a survey of cancer nonprofit organizations conducted by Amgen in 2013. The study found that creating robust metrics can be a challenge in the social impact field, even as foundations, nonprofits, social enterprises and corporations seek to develop stronger and more significant measures of effectiveness.
“This partnership, like other experiential learning opportunities at UC Berkeley, gives our students a chance to develop and implement solutions in the real world,” said Nora Silver, faculty director for the Center for Social Sector Leadership(formerly known as the Center for Nonprofit and Public Leadership). “These types of experiences will prove invaluable to our students as they learn how to forge evidence-based solutions that address current challenges for nonprofits.”
“Amgen and other healthcare companies provide substantial support to patient advocacy organizations with the hope that, together, we are making a difference in meeting the needs of patients and families,” said Raymond C. Jordan, senior vice president of Corporate Affairs at Amgen. “By measuring the impact of these programs, we can learn how to be more effective in achieving our shared goal of improving the lives of people with cancer. Amgen is excited to support this unique initiative that establishes multi-disciplinary collaboration between the pharmaceutical, academic and patient advocacy communities.” (Original Source)
Shares of Amgen closed yesterday at $169.79. AMGN has a 1-year high of $181.81 and a 1-year low of $127.67. The stock’s 50-day moving average is $163.32 and its 200-day moving average is $159.35.
On the ratings front, Amgen has been the subject of a number of recent research reports. In a report released yesterday, Deutsche Bank analyst Robyn Karnauskas maintained a Buy rating on AMGN, with a price target of $195, which implies an upside of 14.8% from current levels. Separately, on August 12, RBC’s Michael Yee maintained a Buy rating on the stock and has a price target of $190.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Robyn Karnauskas and Michael Yee have a total average return of 16.0% and 10.8% respectively. Karnauskas has a success rate of 76.4% and is ranked #45 out of 3738 analysts, while Yee has a success rate of 68.4% and is ranked #269.
The street is mostly Bullish on AMGN stock. Out of 10 analysts who cover the stock, 6 suggest a Buy rating and 4 recommend to Hold the stock. The 12-month average price target assigned to the stock is $178.90, which implies an upside of 5.4% from current levels.