Guggenheim Raises Price Target on Amgen (AMGN)

Guggenheim reported on Tuesday that they have increased their price target on biotechnology medicines company, Amgen, Inc.(AMGN).

The firm, which currently has a “Neutral” rating on AMGN, has raised the company’s price target to $95. This price target suggests a 5% upside to the stock’s current price of $89.55.

Analysts have increased the company’s price target due to the company’s decreased competition which occurred after the recall of Omonty.

Amgen shares were mostly flat during premarket trading Tuesday. The stock has increased 32% in the past year.

The Bottom Line
Shares of Amgen, Inc.(AMGN) have a 2.10% yield, based on Monday’s closing price of $89.55.

Amgen, Inc.(AMGN) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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