Analyst Rating Update on Amgen (AMGN)

Amgen (AMGN) : 15 analysts are covering Amgen (AMGN) and their average rating on the stock is 2.37, which is read as a Buy. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Amgen (AMGN) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 10 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Amgen (AMGN) stock is expected to deviate a maximum of $14.3 from the average target price of $184 for the short term period. 12 Street Experts have initiated coverage on the stock with the most promising target being $201 and the most muted being $157.

For the current week, the company shares have a recommendation consensus of Buy. Also, Equity Analysts at the Brokerage Firm, Citigroup, maintains their rating on the shares of Amgen (NASDAQ:AMGN). Citigroup has a Neutral rating on the shares. As per the latest research report, the brokerage house raises the price target to $175 per share from a prior target of $165. The rating by the firm was issued on July 29, 2016.


Amgen (NASDAQ:AMGN): The stock opened at $173.74 on Wednesday but the bulls could not build on the opening and the stock topped out at $174.39 for the day. The stock traded down to $172.28 during the day, due to lack of any buying support eventually closed down at $173.43 with a loss of -0.41% for the day. The stock had closed at $174.15 on the previous day. The total traded volume was 3,911,773 shares.

Amgen Inc. (Amgen) is a biotechnology company. The Company is engaged in discovering, developing, manufacturing and delivering human therapeutics. The Companys sales and marketing forces are located in the United States and Europe. In the United States, it sells its products to pharmaceutical wholesale distributors. The Company also markets certain products directly to consumers through direct-to-consumer print and television advertising, as well as through the Internet. Outside the United States, the Company sells its products to healthcare providers and/or pharmaceutical wholesale distributors. The Companys products include Neulasta (pegfilgrastim)/NEUPOGEN (filgrastim), Enbrel (etanercept), XGEVA/Prolia (denosumab), ESAs (erythropoiesis-stimulating agents), Sensipar/Mimpara (cinacalcet), Kyprolis and Evolocumab, among others.

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