Evercore ISI Maintains a Hold Rating on Amgen Inc (AMGN)

By Austin Angelo

In a report issued on August 9, Umer Raffat from Evercore ISI maintained a Hold rating on Amgen Inc (AMGNResearch Report). The company’s shares closed on Friday at $196.25.

Raffat said:

“We used a discount rate which is a function of cost of equity and cost of debt. Terminal growth rate estimates were used to derive future cash flows.”

According to TipRanks.com, Raffat is a 1-star analyst with an average return of -4.6% and a 55.0% success rate. Raffat covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Dova Pharmaceuticals Inc, and Gilead Sciences.

Amgen Inc has an analyst consensus of Strong Buy, with a price target consensus of $216.56, representing a 10.3% upside. In a report issued on July 30, J.P. Morgan also maintained a Hold rating on the stock.

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Amgen Inc’s market cap is currently $117.7B and has a P/E ratio of 15.54. The company has a Price to Book ratio of 10.95.

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