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Jefferies Believes Amgen Inc (AMGN) Won’t Stop Here


In a report released yesterday, Michael Yee from Jefferies maintained a Buy rating on Amgen Inc (NASDAQ: AMGN), with a price target of $220. The company’s shares closed yesterday at $204.02, close to its 52-week high of $210.19.

According to TipRanks.com, Yee is a 4-star analyst with an average return of 5.8% and a 54.5% success rate. Yee covers the Healthcare sector, focusing on stocks such as Aevi Genomic Medicine Inc, Rubius Therapeutics Inc, and Vertex Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Amgen Inc with a $206.17 average price target, a 1.1% upside from current levels. In a report issued on October 1, Oppenheimer also assigned a Buy rating to the stock with a $224 price target.

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Based on Amgen Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $6.08 billion and net profit of $2.3 billion. In comparison, last year the company earned revenue of $5.78 billion and had a net profit of $2.02 billion.

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