Amgen (NASDAQ:AMGN) Price Target Raised to $272.00

Amgen (NASDAQ:AMGN) had its price target increased by Bank of America from $261.00 to $272.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an underperform rating on the medical research company’s stock.

AMGN has been the subject of several other reports. Piper Sandler lifted their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. UBS Group reduced their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Raymond James Financial began coverage on Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating for the company. Finally, Citigroup boosted their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $309.70.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $272.98 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen has a 12 month low of $253.30 and a 12 month high of $335.88. The stock has a 50 day moving average of $288.86 and a 200-day moving average of $288.89. The company has a market capitalization of $146.96 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.37 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the previous year, the company posted $4.97 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities research analysts predict that Amgen will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio is presently 77.84%.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Amgen

Institutional investors have recently modified their holdings of the business. Octavia Wealth Advisors LLC raised its position in shares of Amgen by 1.5% in the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock valued at $759,000 after purchasing an additional 35 shares during the period. Fairvoy Private Wealth LLC raised its position in shares of Amgen by 1.1% in the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after purchasing an additional 35 shares during the period. Nicholson Wealth Management Group LLC raised its position in shares of Amgen by 0.6% in the second quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock valued at $1,652,000 after purchasing an additional 35 shares during the period. Crumly & Associates Inc. raised its position in shares of Amgen by 3.2% in the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after purchasing an additional 36 shares during the period. Finally, Maryland Capital Advisors Inc. raised its position in shares of Amgen by 5.2% in the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock valued at $204,000 after purchasing an additional 36 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.