Daiwa launched its Amgen Inc. [NASDAQ:AMGN] rating to the equivalent of Buy and assigned the price target of $300, in a research note dated December 29, 2020. That figure represents around a 25.45% premium from where the company’s shares closed on Monday. Some new analysts also started their coverage, with UBS’s analysts assigning the shares to “a Neutral” rating in a research note to investors issued in late October. Meanwhile, Raymond James had raised its rating on AMGN to “an Outperform” from the earlier “Mkt perform”, in a research note produced for clients October 26, 2020. In addition, there was an upgrade from Truist on October 12, 2020. The rater changed AMGN from “a Hold” to “a Buy”.
Is Amgen Inc. [NASDAQ:AMGN] a Good Buy Right Now?
It should be noted that AMGN technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Sell. The average signal changed from 72% Sell in the last week and compares with 72% Sell in the past month. Data from Amgen Inc.’s Trend Spotter indicated that the signals were Weakest. The stock current average is 2.57 million shares in the past 20 days and the short term average signal indicates a 100% Sell. In the last 50 days, the average trading volume was 2.52 million shares while the medium term average advocated for 100% Sell. The average long-term signal stands at 50% Sell and the 100-day average volume stands at 2.66 million shares.
AMGN Price Performance
On Wall Street, Amgen Inc. [NASDAQ:AMGN] finished Monday’s session up 0.32% at $223.65. The stock went up to $226.90 at the same session while its lowest single day price was $223.03. In the last five days, it saw a fall of about -2.12%, Amgen Inc. shares dropped by almost -7.23% since the beginning of the year. However, the share price has dropped to as low as -15.59% below its one year high. On 07/06/20, the company shares recorded $264.97, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/23/20, the same year at $177.05. The company’s shares have declined by -7.40% in the past year. The 50-day SMA achieved is $227.52 while the 200-day SMA is $233.39. Volume gained to 1.5 million from 0.96 million in the previous session.
Amgen Inc. [AMGN] Valuation Measures
Notably, Amgen Inc. [AMGN] stock can be classified as a good candidate in the listing of underestimated low-priced Drug Manufacturers – General companies to purchase soonest possible with the prevailing 12-month PE ratio of 18.03. The measure means the stock is exchanging at a discount as compared to the 24.27x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 5.21 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.76 which means AMGN serve an attractive investment opportunity compared to its competitors.
AMGN Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 222.15 level, and in case of violation of this particular level, it will cause more drop to 220.66 level. On the upper level, 228.40 is still the key resistance. The stock may increase to the subsequent resistance at 226.02. The Relative Strength Index (RSI) pinned on the 14-day chart is 43.69, implying a neutral technical stance while the MACD stands at -3.99, meaning price will decrease in the next trading period. Percent R indicator moved to 70.52%, implying bearish price movement. Stochastic %K at 25.52% suggest selling the stock.
What is the short interest in Amgen Inc.?
Short interest in the Amgen Inc. stock has surged, increasing by 0.57 million shares to total 6.91 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 7.48 million, data from Yahoo Finance shows. The decrease of -8.25% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.19% of the overall float for the stock.
Amgen Inc.’s Biggest Shareholders: Who Owns Amgen Inc. [AMGN]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 45,176,984 shares or roughly 7.76% of the outstanding AMGN shares. This means their shares have reduced by -738,612 from the 45,176,984 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Capital Research & Management Co updated stake is worth $7,438,564,927. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -2.70% stake valued at $7,153,446,027 while SSgA Funds Management, Inc. added theirs at $6,945,188,938. During the last quarter, BlackRock Fund Advisors liquidated -892,381 of its shares in Amgen Inc. while SSgA Funds Management, Inc. bought 5,016,641 shares. The PRIMECAP Management Co.’s holdings currently number 17,407,082 shares at $3893093889.3. According to the firm’s last 13F report, Fidelity Management & Research Co shares in the company at filing stood at 12,688,691 shares, roughly $2,817,396,950.
AMGN Earnings Forecast For The Current Quarter
Amgen Inc. [AMGN] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $6.59B and an earnings per share of $3.41 for Dec 2020. Looking further ahead, the company is expected to report revenue of $6.37B at an EPS of $4.21 for Mar 2021. The estimates represent upside of 3.90% and 5.24% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
AMGN Earnings Estimates For The Current Year
For the financial year, Amgen Inc. [NASDAQ:AMGN] is expected to bring in revenue of $25.38B. The returns are nearly $1.63 billion higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 16.17, higher than that of FY19 by $1.35. Estimates put this year’s earnings growth at 9.10%, 5.10% for the next, and at an annual 6.65% over the next 5-year period. As for sales, forecasts are for an increase of 6.90% in the current fiscal year and a further 3.90% over the following year.