Analysts at Morgan Stanley trimmed the price target of Amgen (NASDAQ: AMGN) to $273.00 on Tuesday. This is down from the earlier $281.00. Morgan Stanley analysts issued a note to several investors informing this cut in Amgen’s PT. The research firm further announces the rating of “overweight” to NASDAQ: AMGN stocks. This suggests a 13.98% potential upside from Amgen’s current stock price.
Wall Street Analysts Rates NASDAQ:AMGN Stocks At “Hold”
Several Wall Street analysts have submitted their reports on the NASDAQ: AMGN stocks. ValuEngine downgraded the rating from “hold” to “sell” on October 8. Wells Fargo & Co. gave the rating of “in-line” and posted the target price as $247.00 on NASDAQ: AMGN which is up from $237.00. Oppenheimer did the same and increased its target price for the company to $280.00 and announced an “outperform” rating for NASDAQ: AMGN. William Blair put a “hold” rating on AMGN stocks on September 23. The general consensus is a “hold” rating plus the average PT of $255.08.
NASDAQ:AMGN Quarterly Earnings Estimate
The quarterly earnings for the previous fiscal quarter were released by the company on July 28. The earnings stood at $4.25 EPS for that quarter beating to the general consensus of $3.81 proposed by Thomson Reuters. The company’s return on equity also stood at 91.98% along with the net margin of 30.04%.
The expected income for NASDAQ: AMGN, a medical research company, was marked at $6.19 billion but it topped the estimate by making a revenue of $6.21 billion for that quarter.