Cowen & Co. Releases a Buy Rating on Amgen Inc

By Jason Carr

In a report released today, Eric Schmidt from Cowen & Co. reiterated a Buy rating on Amgen Inc (NASDAQ: AMGN), with a price target of $209. The company’s shares opened today at $167.37.

Schmidt said:

“The highly anticipated FOURIER CV outcomes data details were presented at ACC.”

According to, Schmidt is a top 100 analyst with an average return of 34.7% and a 64.5% success rate. Schmidt covers the Healthcare sector, focusing on stocks such as Merrimack Pharmaceuticals, Ionis Pharmaceuticals Inc, and Threshold Pharmaceuticals.

Currently, the analyst consensus on Amgen Inc is Strong Buy and the average price target is $197.43, representing a 18.0% upside.

In a report issued on March 5, Oppenheimer also reiterated a Buy rating on the stock with a $189 price target.

Amgen Inc’s market cap is currently $134.8B and has a P/E ratio of 17.59. The company has a book value ratio of 4.4492.

Based on the recent corporate insider activity of 94 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2016, Madhavan Balachandran, the EVP, Operations of AMGN sold 30,000 shares for a total of $4,623,600.

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