In a report released today, Matthew Harrison from Morgan Stanley maintained a Buy rating on Amgen (AMGN – Research Report), with a price target of $277.00. The company’s shares closed last Monday at $240.40, close to its 52-week high of $244.99.
According to TipRanks.com, Harrison is a 5-star analyst with an average return of 11.5% and a 61.4% success rate. Harrison covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Alexion Pharmaceuticals, and Vertex Pharmaceuticals.
Currently, the analyst consensus on Amgen is a Moderate Buy with an average price target of $249.57, a 3.1% upside from current levels. In a report issued on January 9, BMO Capital also maintained a Buy rating on the stock with a $275.00 price target.
Based on Amgen’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $5.71 billion and net profit of $1.97 billion. In comparison, last year the company earned revenue of $6.2 billion and had a net profit of $1.93 billion.
Based on the recent corporate insider activity of 88 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMGN in relation to earlier this year.
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