Analysts Raise Their Target Price for Amgen in March

Analysts’ recommendations and target price

Wall Street analysts expect an upside potential of 11.28% for Amgen (AMGN) based on the company’s closing price on March 27. Analysts first revised the company’s target price downward from $207.25 in January to $206.30 in February but then raised it to $207.33 in March. The current consensus analyst recommendation for the stock is a “buy.”

To learn about Amgen’s growth drivers in 2019, read What’s Expected to Drive Amgen’s Growth in 2019.

Analysts Raise Their Target Price for Amgen in March

Of the 24 analysts covering Amgen, five have given it “strong buys,” six have given it “buys,” and 13 have given it “holds.” The highest and lowest target price estimates for the company are $234 and $179, respectively.

On March 27, Amgen closed at $186.32, 1.04% lower than its previous closing price, 14.09% higher than its 52-week low of $163.31, and 11.36% lower than its 52-week high of $210.19. The company’s market cap is $119.17 billion.

Based on its closing price on March 27, Amgen has reported returns of -2.51% in the last week, -1.98% in the last month, and 4.44% in the last quarter. The company has reported returns of -10.08% in the last half year, 6.35% in the last year, and -4.29% year-to-date.

Revenue and EPS estimates

In the fourth quarter, Amgen reported revenue of $6.23 billion, a YoY (year-over-year) rise of 7.38%, and $385.97 million higher than the consensus estimate. The company reported non-GAAP (generally accepted accounting principles) EPS of $3.42, a YoY rise of 18.34% and $0.15 higher than the consensus estimate.

Analysts expect Amgen’s revenue to see YoY changes of 0.02% to $5.56 billion in the first quarter, -3.52% to $5.85 billion in the second quarter, -3.32% to $5.71 billion in the third quarter, and -6.72% to $5.81 billion in the fourth quarter of 2019. Analysts also expect Amgen’s non-GAAP EPS to see YoY changes of 0.68% to $3.49 in the first quarter, -4.77% to $3.65 in the second quarter, -3.80% to $3.55 in the third quarter, and -1.12% to $3.38 in the fourth quarter.

Analysts expect Amgen’s revenue to see YoY changes of -3.87% to $22.83 billion in 2019, 0.33% to $22.90 billion in 2020, and 0.78% to $23.08 billion in 2021. Analysts also expect Amgen’s non-GAAP EPS to see YoY changes of -2.24% to $14.08 in 2019, 6.23% to $14.95 in 2020, and 4.04% to $15.56 in 2021.