J.P. Morgan Maintains a Hold Rating on Amgen Inc (AMGN)

By Ryan Adsit

J.P. Morgan analyst Cory Kasimov maintained a Hold rating on Amgen Inc (AMGNResearch Report) yesterday and set a price target of $190. The company’s shares closed yesterday at $167.81, close to its 52-week low of $167.17.

According to TipRanks.com, Kasimov is a 2-star analyst with an average return of 0.2% and a 40.4% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Inc., BioMarin Pharmaceutical Inc., and ACADIA Pharmaceuticals Inc.

Currently, the analyst consensus on Amgen Inc is a Moderate Buy with an average price target of $215.13, a 28.2% upside from current levels. In a report issued on May 1, Cantor Fitzgerald also reiterated a Hold rating on the stock with a $221 price target.

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Based on Amgen Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.54 billion and net profit of $1.99 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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