Amgen Inc Received its Third Buy in a Row

By Ryan Adsit

After Cowen & Co. and BMO Capital assigned a Buy rating to Amgen Inc in the last month, the company received another Buy, this time from Oppenheimer. Analyst Leah R. Cann reiterated a Buy rating on Amgen Inc (NASDAQ: AMGN) today and set a price target of $189. The company’s shares closed yesterday at $157.06.

R. Cann observed:

“There were several Abstracts for Amgen Programs released yesterday from American Society of Clinical Oncology for Amgen programs. We have reviewed data in Abstracts 10530 and 7032 in this note, which support our expectations for Blincyto. Our estimates for product sales remain unchanged.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 10.4% and a 68.4% success rate. Cann covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Seattle Genetics, and Acceleron Pharma.

Currently, the analyst consensus on Amgen Inc is Moderate Buy and the average price target is $189.50, representing a 20.7% upside.

In a report issued on May 5, Mizuho Securities also reiterated a Buy rating on the stock with a $195 price target.

The company has a one year high of $184.21 and a one year low of $133.64. Currently, Amgen Inc has an average volume of 3.63M.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.