TMCnet News
Downgrade Alert for Amgen (AMGN)Aug 02, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Amgen (NASDAQ:AMGN) was downgraded from Buy to Hold at Argus Research today. The stock closed yesterday at $81.82 on volume of 4.0 million shares, below average daily volume of 5.3 million. Amgen Inc. discovers, develops, manufactures, and markets human therapeutics based on cellular and molecular biology. The Company focuses its research on secreted protein and small molecule therapeutics, with particular emphasis on neuroscience and cancer. Amgen concentrates on the areas of hematology, cancer, infectious disease, endocrinology, neurobiology, and inflammation. Amgen (NASDAQ:AMGN) is currently priced 8.0% above its average consensus analyst price target of $75.27. Amgen shares have support at the 50-day moving average (MA) of $73.55 and additional support at the 200-day MA of $66.82. In the past 52 weeks, Amgen share prices have been bracketed by a low of $47.66 and a high of $84.39 and closed yesterday at $81.82, 72% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.1%. SmarTrend recommended that subscribers consider buying shares of Amgen on April 25th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $69.66. Since that recommendation, shares of Amgen have risen 17.5%. We continue to monitor AMGN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |