Why Has Atlantic Equities Given Amgen Inc (NASDAQ:AMGN) a $202.00 Price Target
Atlantic Equities analyst have commenced coverage coverage on Amgen Inc (NASDAQ:AMGN) with a $202.00 target price and Overweight rating. The target price means a potential upside of 26.19% from company’s last stock close price.
From a total of 11 analysts covering Amgen Inc. (NASDAQ:AMGN) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN 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 $187.55 with a 17.09% above today’s ($159.55) stock price. Amgen Inc. was the topic of 14 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. Morgan Stanley upgraded shares on December 15 to “Overweight” rating. Piper Jaffray maintained shares with “Overweight” rating and $200 target share price in a report from an August 29. Piper Jaffray upgraded AMGN stock in a recent report from November 5 to “Overweight” rating. Vetr upgraded the rating on August 21. Vetr has a “Buy” rating and a $183.27 price target on shares. Finally, Raymond James initiated the stock with “Market Perform” rating in a report issued on a September 1.
Approximately 6.20M shares of stock traded hands or 98.72% up from the average. Amgen, Inc. (NASDAQ:AMGN) has declined 0.57% since May 15, 2015 and is downtrending. It has outperformed by 3.24% the S&P500.
The overall sentiment of institutions has decreased to 1.24 in Q2 2015. Its down 0.05, from 1.29 in 2015Q2. The ratio dived, as 72 institutions have sold all the shares of Amgen, Inc. that they owned while 438 funds have taken shares off the table. 95 funds have purchased shares for the first time while 539 added to their positions. These institutions now hold 609.37 million shares or 1.75% more than the 598.86 million shares they owned in 2015Q2.
The Fund Third Point Llc currently is holding shares equating to 12.85% of its total portfolio in Amgen, Inc. representing a total of 9.85 million shares. Another fund,Summit Capital Management Llc, is holding a total of 166,641 shares equating to 11.26% of their holdings. Additionally, Lamond Capital Partners Llc has a 100,000 share stake in Amgen, Inc. which represents 10.35% of their total portfolio. The Fund, Smead Capital Management Inc., based out of Washington, has also built up a stake in the stock, which represents a total of 5.7% of their total portfolio. Finally Krensavage Asset Management Llc, a fund which is based in the state of New York reported a total holdings of 103,536 shares.
Insider activity is a very important aspect to track on any stock. Going back to April 22, 2015, shareholders of Amgen, Inc. have witnessed 0 insider buys, and a total of 2 sales equating to a net activity of approximately $1.68 million . De Carbonnel Francois sold 5,000 shares worth approximately $769,192. Pelham Judith C sold 5,035 shares worth approximately $908,314. Patton Cynthia M sold 4,530 shares worth approximately $711,482. Balachandran Madhavan sold 21,750 shares worth approximately $3.43 million. The company insider Tross Stuart A sold 3,012 shares worth $509,964.
Amgen Inc. is a biotechnology company. The company has a market cap of $121.77 billion. The Firm is engaged in discovering, developing, manufacturing and delivering human therapeutics. It has 18.96 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.”