Amgen (AMGN) Receives a Buy from Oppenheimer


Oppenheimer analyst Jay Olson assigned a Buy rating to Amgen (AMGN) yesterday and set a price target of $266.00. The company’s shares closed last Monday at $227.04.

According to TipRanks.com, Olson is a 4-star analyst with an average return of 5.9% and a 47.0% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and Crispr Therapeutics AG.

Currently, the analyst consensus on Amgen is a Moderate Buy with an average price target of $269.69, a 19.4% upside from current levels. In a report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $260.00 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 $6.63 billion and net profit of $1.62 billion. In comparison, last year the company earned revenue of $6.2 billion and had a net profit of $1.7 billion.

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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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