The world of medical research has been a hot topic since the outbreak of the COVID-19 pandemic. As investors look for ways to leverage the market potential in this sector, StockNews.com has thrown open the doors to its latest coverage on Amgen (NASDAQ:AMGN). The brokerage firm set a “strong-buy” rating on the company’s stock in a note issued to its investors last Thursday.
This announcement comes on the heels of Amgen’s quarterly earnings results, posted on April 27th, which showed an increase in earnings per share from $3.84 to $3.98. This was due to a combination of factors such as the company’s ROI standing at an impressive 248.47%, buoyed by an equally impressive net margin of 30.23%.
While some analysts may have expressed muted concerns over Amgen’s year-over-year revenue drop of 2.1%, others, like StockNews.com, remain optimistic about the company’s performance in an industry that is likely to grow in leaps and bounds.
It is important to note that Amgen is not just any medical research company – it boasts more than four decades worth of experience and innovation in biotechnology with products that cater to patients worldwide. Its bold strides into areas like oncology have made it a go-to for physicians treating patients with cancer-related conditions globally.
With all these underpinnings and much more, it is hard not to take notice of Amgen’s potential. Analysts are predicting that they will post annual EPS of $18.12 this year. This bodes well for anyone looking for a viable long-term investment option with attractive returns from one of America’s largest biotech companies.
In summary, if you are an investor looking for powerful market avenues to try your hands on, then look no further than Amgen (NASDAQ:AMGN). The recently published coverage by StockNews.com makes this clear through their recommendation of the company as a “strong-buy” stock. With decades of innovation, a winning track record, and a growing industry, now is an excellent time to consider investing in Amgen for great potential gains.
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The Mixed Reviews & Market Trajectory of Amgen’s Shares
The shares of AMGN opened at $225.02 on Thursday, with a market capitalization of $120.23 billion and a beta of 0.64. The company has been receiving mixed reviews from a variety of research analysts, which can make it difficult for potential investors to make informed decisions regarding their investments.
BMO Capital Markets recently lowered their price target on Amgen from $276.00 to $253.00 and assigned a “market perform” rating on the stock in early February. This was followed by Royal Bank of Canada dropping their price objective from $268.00 to $258.00 and assigning a “sector perform” rating on the stock.
Furthermore, SVB Securities reduced their previously stated price objective on Amgen from $282.00 to $267.00, while Truist Financial dropped theirs from $280.00 to $260.00, but maintained a “buy” rating on the stock.
Among the various analysts assessing Amgen’s financial outlook were also those who increased their previously stated price targets – notably Mizuho which raised its target from $208.00 to $214.00 per share back in May this year.
As these differing evaluations suggest, the company is currently experiencing difficulty achieving total consensus with industry experts: only four analysts hold sell ratings whilst six affirmed buy ratings; one analyst gave a strong buy rating and three declared hold ratings respectively.
With an average rating of “hold” as reported by Bloomberg.com, there seems to be generally mixed opinions regarding Amgen’s future trajectory; with general consensus putting the value at around $250.94 per share.
Despite its current streak of varying assessments within Wall Street itself, Amgen remains committed toward providing therapy solutions to ailments such as chronic kidney disease (CKD). Only time will tell whether or not this focus will have the desired effect but nonetheless it continues with innovative therapies in hopes of making life-changing differences through the proactive therapies.