In a report released today, Jay Olson from Oppenheimer assigned a Buy rating to Amgen (AMGN), with a price target of $270.00. The company’s shares closed last Friday at $247.72.
According to TipRanks.com, Olson is a 1-star analyst with an average return of -2.1% and a 43.2% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and ACADIA Pharmaceuticals.
Currently, the analyst consensus on Amgen is a Moderate Buy with an average price target of $266.14, representing a 7.0% upside. In a report issued on September 18, Raymond James also assigned a Buy rating to the stock.
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Based on Amgen’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $6.21 billion and net profit of $1.8 billion. In comparison, last year the company earned revenue of $5.87 billion and had a net profit of $2.18 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.