Oppenheimer Issues a Buy Rating on Amgen (AMGN)

By Carrie Williams

Oppenheimer analyst Jay Olson assigned a Buy rating to Amgen (AMGNResearch Report) yesterday and set a price target of $266.00. The company’s shares closed last Friday at $241.43.

According to TipRanks.com, Olson is a 3-star analyst with an average return of 3.3% and a 47.4% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and Crispr Therapeutics AG.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Amgen with a $270.17 average price target, which is a 10.3% upside from current levels. In a report issued on January 19, Morgan Stanley also maintained a Buy rating on the stock with a $285.00 price target.

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The company has a one-year high of $276.69 and a one-year low of $177.05. Currently, Amgen has an average volume of 2.54M.

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Amgen, Inc. is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, BLINCYTO, Corlanor, ENBREL, EPOGEN, IMLYGIC, KYPROLIS, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, and XGEVA. The company was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.