Amgen Inc (AMGN) Gets a Buy Rating from Cowen & Co.

By Carrie Williams

In a report released yesterday, Yaron Werber from Cowen & Co. maintained a Buy rating on Amgen Inc (AMGNResearch Report), with a price target of $229. The company’s shares closed yesterday at $179.32.

According to TipRanks.com, Werber is a 5-star analyst with an average return of 15.7% and a 65.6% success rate. Werber covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Inc., Rocket Pharmaceuticals Inc, and Unum Therapeutics Inc.

Currently, the analyst consensus on Amgen Inc is a Moderate Buy with an average price target of $217, which is a 21.0% upside from current levels. In a report issued on April 16, BMO Capital also maintained a Buy rating on the stock with a $229 price target.

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Based on Amgen Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.2 billion and net profit of $1.93 billion. In comparison, last year the company earned revenue of $5.59 billion and had a net profit of $2.31 billion.

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