Wells Fargo:Amgen (NASDAQ:AMGN) Valuation Insights

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How Wells Fargo Currently Rates Amgen (NASDAQ:AMGN)

In recent note distributed to Clients today, Wells Fargo analysts have started Amgen (NASDAQ:AMGN) coverage with Market Perform rating.

From a total of 11 analysts covering Amgen Inc. (NASDAQ:AMGN) stock, 8 rate it a ”Buy”, 0 a “Sell”, and 8 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $213 while the lowest target price is $157. The mean of all analyst targets is $184.55 with a 17.48% above today’s ($159.01) stock price. Amgen Inc. was the topic of 12 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray upgraded shares on November 5 to “Overweight” rating. Piper Jaffray maintained shares with “Overweight” rating and $200 target share price in a report from an August 29. Raymond James initiated AMGN stock in a recent report from September 1 with “Market Perform” rating. RBC Capital Markets maintained the rating on July 31. RBC Capital Markets has a “Outperform” rating and a $190 price target on shares. Finally, Deutsche Bank maintained the stock with “Buy” rating in a report issued on a July 31.

Approximately 1.25M shares of stock traded hands. Amgen, Inc. (NASDAQ:AMGN) has declined 3.56% since May 1, 2015 and is downtrending. It has underperformed by 0.78% the S&P500.

Amgen Inc. is a biotechnology company. The company has a market cap of $117.05 billion. The Firm is engaged in discovering, developing, manufacturing and delivering human therapeutics. It has 18.99 P/E ratio. The Company’s sales and marketing forces are located in the United States and Europe.

According to Zacks Investment Research, “Amgen Inc. discovers, develops and delivers innovative human therapeutics. A biotechnology pioneer, Amgen was one of the first companies to realize the new science’s promise by bringing safe and effective medicines from lab, to manufacturing plant, to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis, and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people’s lives.” Get a free copy of the Zacks research report on Amgen, Inc. (AMGN).

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