Amgen Inc Receives a Buy from BMO Capital

By Ryan Adsit

BMO Capital analyst Ian Somaiya reiterated a Buy rating on Amgen Inc (NASDAQ: AMGN) today and set a price target of $198. The company’s shares opened today at $153.02.

According to TipRanks.com, Somaiya is a 5-star analyst with an average return of 10.3% and a 51.7% success rate. Somaiya covers the Healthcare sector, focusing on stocks such as Aeglea Biotherapeutics Inc, Corcept Therapeutics Inc, and Protagonist Therapeutics.

Currently, the analyst consensus on Amgen Inc is Moderate Buy and the average price target is $186, representing a 21.6% upside.

In a report issued on May 9, Oppenheimer also reiterated a Buy rating on the stock with a $189 price target.

Based on Amgen Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $5.41 billion and quarterly net profit of $2.07 billion. In comparison, last year the company earned revenue of $5.43 billion and had a net profit of $1.9 billion.

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