The stock of Amgen, Inc. (NASDAQ:AMGN) hit a new 52-week low and has $125.13 target or 9.00% below today’s $137.50 share price. The 8 months bearish chart indicates high risk for the $100.51B company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $125.13 price target is reached, the company will be worth $9.05B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 1.36M shares traded hands. Amgen, Inc. (NASDAQ:AMGN) has declined 10.03% since April 1, 2016 and is downtrending. It has underperformed by 11.24% the S&P500.
Amgen, Inc. (NASDAQ:AMGN) Ratings Coverage
Out of 16 analysts covering Amgen Inc. (NASDAQ:AMGN), 9 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 56% are positive. Amgen Inc. has been the topic of 28 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of Amgen, Inc. (NASDAQ:AMGN) has “Hold” rating given on Friday, August 26 by Gabelli. The rating was initiated by Bernstein on Wednesday, June 29 with “Market Perform”. On Tuesday, September 1 the stock rating was initiated by Raymond James with “Market Perform”. Deutsche Bank maintained the stock with “Buy” rating in Friday, July 31 report. The firm has “Neutral” rating given on Friday, July 29 by Citigroup. The firm earned “Overweight” rating on Friday, December 18 by Atlantic Securities. Vetr upgraded the shares of AMGN in a report on Friday, August 21 to “Buy” rating. Citigroup initiated Amgen, Inc. (NASDAQ:AMGN) on Thursday, February 25 with “Neutral” rating. The company was maintained on Monday, February 8 by Argus Research. As per Thursday, October 29, the company rating was maintained by UBS.
According to Zacks Investment Research, “Amgen Inc. discovers, develops and delivers innovative human therapeutics. A biotechnology pioneer, Amgen was one of the first companies to realize the new science’s promise by bringing safe and effective medicines from lab, to manufacturing plant, to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis, and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people’s lives.”
Insitutional Activity: The institutional sentiment increased to 1.28 in Q2 2016. Its up 0.21, from 1.07 in 2016Q1. The ratio increased, as 56 funds sold all Amgen, Inc. shares owned while 422 reduced positions. 77 funds bought stakes while 533 increased positions. They now own 577.82 million shares or 7.76% less from 626.39 million shares in 2016Q1.
Robecosam Ag holds 0.41% or 29,556 shares in its portfolio. Gam Ag, a Switzerland-based fund reported 182,487 shares. Moreover, Ep Wealth has 1.43% invested in Amgen, Inc. (NASDAQ:AMGN) for 59,003 shares. Cypress Management Limited Liability Corp (Wy) owns 55 shares or 0% of their US portfolio. Payden Rygel has 650 shares for 0.01% of their US portfolio. Guardian Investment Mgmt has invested 2.79% of its portfolio in Amgen, Inc. (NASDAQ:AMGN). Moreover, Mai Capital Mgmt has 0.87% invested in Amgen, Inc. (NASDAQ:AMGN) for 74,325 shares. Trillium Asset Mgmt Ltd has invested 0.39% of its portfolio in Amgen, Inc. (NASDAQ:AMGN). Kayne Anderson Rudnick Mgmt Limited Liability accumulated 0.3% or 132,497 shares. The New York-based Guardian Life Of America has invested 0.03% in Amgen, Inc. (NASDAQ:AMGN). Delta Lloyd Nv holds 52,654 shares or 0.27% of its portfolio. Janney Montgomery Scott Ltd, a Pennsylvania-based fund reported 95,301 shares. Cg Asset Management Lc has invested 0.47% of its portfolio in Amgen, Inc. (NASDAQ:AMGN). Nomura Holdings Incorporated accumulated 30,015 shares or 0.02% of the stock. Ladenburg Thalmann Financial Svcs accumulated 69,999 shares or 0.17% of the stock.
Insider Transactions: Since August 1, 2016, the stock had 0 insider purchases, and 1 insider sale for $523,758 net activity. $523,758 worth of Amgen, Inc. (NASDAQ:AMGN) was sold by Such Annette Louise on Monday, August 1.
More recent Amgen, Inc. (NASDAQ:AMGN) news were published by: Fool.com which released: “5 Things Amgen Inc.’s Management Wants You to Know” on October 28, 2016. Also Investorplace.com published the news titled: “Why McKesson Corporation (MCK), Amgen, Inc. (AMGN) and Electronic Arts Inc …” on October 28, 2016. Seekingalpha.com‘s news article titled: “Amgen Is Melting Down” with publication date: October 31, 2016 was also an interesting one.
AMGN Company Profile
Amgen Inc., incorporated on October 31, 1986, is a biotechnology company. The Firm discovers, develops, makes and delivers various human therapeutics. The Company’s business segment is human therapeutics. The Company’s marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine). The Firm focuses its research and development on human therapeutics for the treatment of serious illness in the areas of oncology/hematology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.
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