Amgen Inc.

🇺🇸NASDAQ Global Select
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Amgen Inc. stock analysis AMGN overview
Somewhat Bearish -25

Amgen (AMGN) Receives a Hold from Bernstein

🔍 Bernstein analyst Courtney Breen maintained a Hold rating on Amgen (AMGN) with a price target of $335.00.

📊 Quarterly revenue reached $9.9 billion, representing growth from $9.09 billion in the prior year period.

💰 Net profit improved significantly to $1.33 billion compared to $627 million during the same last-year quarter.

🏦 Bank of America Securities reiterated a Sell rating on Amgen as of April 15, contrasting with recent analyst consensus.

👩‍💼 Bernstein covers major healthcare peers including Eli Lilly, Moderna, and Merck & Company under Breen’s portfolio.

🎯 Analyst Courtney Breen has an average return of 15.3% and an 81.25% success rate on recommended stocks historically.

📉 Barclays analyst Emily Field also issued a Hold rating on Amgen in a separate report released today.

Bullish Signals
  • Amgen reported quarterly revenue of $9.9 billion, representing significant growth compared to last year's revenue of $9.09 billion.
  • The company generated a net profit of $1.33 billion this quarter, more than doubling the net profit of $627 million from the previous year.
Risk Factors
  • Bernstein analyst Courtney Breen maintained a Hold rating on Amgen, downgrading expectations by not upgrading despite positive earnings, with a price target set at $335.00.
  • Bank of America Securities reiterated a Sell rating on Amgen as recently as April 15, signaling continued concerns among major financial institutions.
  • Amgen received an additional Hold rating from Barclays analyst Emily Field, indicating mixed sentiment and lack of strong confidence in near-term upside.
  • The stock has been downgraded to a Sell rating by Bank of America just days after the quarterly report, potentially reflecting underlying valuation or growth concerns despite reported financial gains.
Full Analysis
The article reports that Bernstein analyst Courtney Breen has maintained a Hold rating on Amgen (AMGN) while setting a price target of $335.00, a decision announced on April 22. Breen focuses on the Healthcare sector and typically covers major players like Eli Lilly & Co, Moderna, and Merck & Company, with TipRanks data indicating he has an average return of 15.3% and an 81.25% success rate on his recommended stocks. This rating follows another Hold from Barclays analyst Emily Field in a report issued on the same day, though it contrasts with Bank of America Securities' Sell rating, which was reiterated on April 15 for the same stock. Underlying the analyst sentiment is Amgen's latest earnings release covering the quarter ending December 31. The company reported quarterly revenue of $9.9 billion and a net profit of $1.33 billion. This represents a significant increase compared to the previous year, where Amgen earned $9.09 billion in revenue and $627 million in net profit, highlighting a substantial growth in profitability alongside revenue expansion. The news content was syndicated from TipRanks and includes standard disclaimers noting that the Globe and Mail has not reviewed third-party materials and may receive compensation for the content placement.