Amgen (AMGN) Received its Third Buy in a Row


After Merrill Lynch and Cowen & Co. gave Amgen (NASDAQ: AMGN) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Jay Olson maintained a Buy rating on Amgen today and set a price target of $240.00. The company’s shares closed last Monday at $193.14.

According to TipRanks.com, Olson ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -14.0% and a 29.2% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, ACADIA Pharmaceuticals, and Enanta Pharmaceuticals.

Amgen has an analyst consensus of Moderate Buy, with a price target consensus of $247.81, a 25.3% upside from current levels. In a report issued on March 11, Cowen & Co. also maintained a Buy rating on the stock with a $270.00 price target.

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Based on Amgen’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.2 billion and net profit of $1.7 billion. In comparison, last year the company earned revenue of $6.23 billion and had a net profit of $1.93 billion.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMGN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Amgen, Inc. is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, BLINCYTO, Corlanor, ENBREL, EPOGEN, IMLYGIC, KYPROLIS, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, and XGEVA. The company was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.

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