Amgen (NASDAQ:AMGN) Stock Upgrade
Morgan Stanley gave Amgen (NASDAQ:AMGN) shares a new Overweight rating in a very recent research note revealed on Tuesday, 15 December. The increase from the last Equal-Weight rating is certainly an interesting one.
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 $187.55 with a 14.85% above today’s ($162.65) stock price. Amgen Inc. was the topic of 13 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. Wells Fargo initiated shares on December 4 with “Market Perform” rating. Piper Jaffray maintained shares with “Overweight” rating and $200 target share price in a report from an August 29. UBS maintained AMGN stock in a recent report from October 29 with “Buy” 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, Vetr upgraded the stock to “Buy” rating in a report issued on an August 21.
Approximately 5.35 million shares of stock traded hands or 79.53% up from the average. Amgen, Inc. (NASDAQ:AMGN) has declined 0.08% since May 12, 2015 and is downtrending. It has outperformed by 3.59% 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 fall, 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 selling transactions 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 $3.43M. 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 $119.22 billion. The Firm is engaged in discovering, developing, manufacturing and delivering human therapeutics. It has 19.42 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.”