SVB Securities Issues a Hold Rating on Amgen (AMGN)

In a report released on November 7, David Risinger from SVB Securities assigned a Hold rating to Amgen (AMGNResearch Report). The company’s shares closed yesterday at $289.65.

Risinger covers the Healthcare sector, focusing on stocks such as Pfizer, Gilead Sciences, and Eli Lilly & Co. According to TipRanks, Risinger has an average return of 13.7% and a 73.81% success rate on recommended stocks.

Amgen has an analyst consensus of Hold, with a price target consensus of $259.36, which is a -10.46% downside from current levels. In a report released on November 8, BMO Capital also maintained a Hold rating on the stock with a $260.00 price target.

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Based on Amgen’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $6.65 billion and a net profit of $2.14 billion. In comparison, last year the company earned a revenue of $6.71 billion and had a net profit of $1.88 billion

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Founded in 1980, California-based Amgen, Inc. is one of the world’s leading biotechnology companies, which is engaged in the discovery, development, manufacture and marketing of human therapeutics. It primarily focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas.

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