Shares of Amgen, Inc. AMGN have been quite volatile this year. While most of March and April saw the stock rise, May did not; since the beginning of the month, the shares have lost 0.75 percent, even in spite of the 1.86 percent rebound witnessed since last Friday. With the stock down 3.2 percent year-to-date, the crowd seems to believe there is plenty of room for upside.
Related Link: Here's How Crowdsourced Ratings Can Beat The Market
On Tuesday, top raters at the Vetr community decided to upgrade their rating on shares of Amgen from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) - out of a possible 5.0 Stars rating. The new rating better reflects the crowd’s average price target of $175.53 which implies an upside potential of more than 12 percent from current valuations.
Finally, it should be noted that only 72 percent of the crowd's ratings on the biotech are bullish, implying that top raters are more optimistic than the crowd as a whole.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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