Jefferies Maintains Amgen to Buy with Price Target $198.00

Brokerage firm Jefferies Maintains its rating on Amgen(NASDAQ:AMGN). In a research note issued to the investors, the brokerage major Raises the price-target to $198.00 per share. The shares have been rated Buy. The rating by Jefferies was issued on Jul 28, 2016.

In a different note, Bernstein said it Initiates Coverage on Amgen, according to a research note issued on Jun 29, 2016. The shares have been rated ‘Market Perform’ by the firm.

Amgen (AMGN) shares turned negative on Thursdays trading session with the shares closing down -0.76 points or -0.44% at a volume of 21,22,162. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $173.67. The peak price level was also seen at $173.67 while the days lowest was $172.04. Finally the shares closed at $172.67. The 52-week high of the shares is $177.52 while the 52-week low is $130.09. According to the latest information available, the market cap of the company is $129,219 M.

Amgen has also declared a cash dividend of $1.0000 on Jul 22, 2016. The shares will quote ex-dividend on Aug 15, 2016 and the record date has been fixed on Aug 17, 2016. The dividend payable date has been fixed on Sep 8, 2016.

Amgen(AMGN) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $5.69B. Analysts had an estimated revenue of $5.58B. Earnings per share were $2.84. Analysts had estimated an EPS of $2.74.

Several Insider Transactions has been reported to the SEC. On May 5, 2016, Madhavan Balachandran (EVP, Operations) sold 30,000 shares at $154.12 per share price.Also, On May 3, 2016, Sean E Harper (EVP, Research & Development) sold 21,875 shares at $157.99 per share price.On May 3, 2016, David Baltimore (director) sold 3,312 shares at $157.21 per share price, according to the Form-4 filing with the securities and exchange commission.

Amgen Inc. (Amgen) is a biotechnology company. The Company is engaged in discovering developing manufacturing and delivering human therapeutics. The Company’s 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 Company’s 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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