Amgen Inc. (NASDAQ:AMGN – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $437.23, but opened at $408.90. Amgen shares last traded at $401.8520, with a volume of 811,949 shares changing hands.
Amgen News Summary
Here are the key news stories impacting Amgen this week:
- Positive Sentiment: Amgen and AstraZeneca reported that the Phase 3 DeLLphi-305 trial met its primary endpoint. Imdelltra combined with Imfinzi significantly improved overall survival in first-line extensive-stage small-cell lung cancer and also met progression-free survival and response-rate endpoints, strengthening the commercial outlook for Imdelltra. Amgen Imdelltra Phase 3 results
- Positive Sentiment: William Blair maintained a Buy rating, citing the Imdelltra Phase 3 success as support for Amgen’s pipeline and investment case. Piper Sandler also reaffirmed its Buy rating. Imdelltra analyst rating
- Neutral Sentiment: Amgen is scheduled to present at the Morgan Stanley Global Healthcare Conference, potentially providing updates on olpasiran, Imdelltra and broader pipeline priorities. Amgen Morgan Stanley conference presentation
- Neutral Sentiment: Analyst views remain mixed: Wells Fargo reiterated Hold, while Cantor Fitzgerald maintained Neutral with a $400 price target, suggesting limited near-term upside from recent levels. Wells Fargo Amgen rating
- Negative Sentiment: Novartis’ Phase 3 pelacarsen trial failed to reduce cardiovascular events despite lowering Lp(a), raising doubts about whether the biomarker translates into clinical benefits. Investors consequently questioned the prospects for Amgen’s olpasiran, which remains in a large late-stage heart-outcomes study. Novartis cholesterol drug setback
- Negative Sentiment: BMO downgraded Amgen to Market Perform from Outperform, citing a less favorable risk-reward balance and limited near-term upside. Broader market pressure from higher oil prices, inflation concerns and interest-rate uncertainty has added to selling pressure. BMO Amgen downgrade
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Bank of America boosted their price objective on Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 5th. Daiwa Securities Group lowered their price objective on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Barclays boosted their target price on shares of Amgen from $360.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Oppenheimer lifted their price target on shares of Amgen from $400.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $381.68.
Amgen Stock Performance
The stock has a 50-day simple moving average of $400.14 and a 200-day simple moving average of $367.79. The company has a market capitalization of $211.53 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 2.83 and a beta of 0.43. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44.
Amgen (NASDAQ:AMGN – Get Free Report) last released its earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The company had revenue of $10.05 billion during the quarter, compared to analysts’ expectations of $9.43 billion. During the same period in the prior year, the business posted $6.02 EPS. The business’s revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, analysts anticipate that Amgen Inc. will post 22.97 earnings per share for the current year.
Amgen Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, August 21st. Amgen’s dividend payout ratio is 62.65%.
Insider Buying and Selling at Amgen
In other news, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the transaction, the senior vice president directly owned 6,404 shares in the company, valued at $2,642,098.28. The trade was a 23.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by company insiders.
Institutional Trading of Amgen
Institutional investors and hedge funds have recently bought and sold shares of the company. Rational Advisors Inc. grew its position in shares of Amgen by 13.7% in the 2nd quarter. Rational Advisors Inc. now owns 199 shares of the medical research company’s stock worth $72,000 after acquiring an additional 24 shares in the last quarter. Beacon Financial Advisory LLC increased its holdings in shares of Amgen by 2.0% in the 2nd quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company’s stock valued at $461,000 after acquiring an additional 25 shares during the last quarter. Legacy Financial Advisors Inc. raised its position in shares of Amgen by 0.8% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company’s stock valued at $1,234,000 after acquiring an additional 26 shares in the last quarter. Roman Butler Fullerton & Co. raised its position in shares of Amgen by 1.4% during the 2nd quarter. Roman Butler Fullerton & Co. now owns 1,956 shares of the medical research company’s stock valued at $705,000 after acquiring an additional 27 shares in the last quarter. Finally, High Note Wealth LLC lifted its stake in Amgen by 5.8% during the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock worth $166,000 after purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.
About Amgen
Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and rare diseases. The company uses biologic research, genetics and other advanced technologies to develop treatments intended to address significant unmet medical needs.
Amgen’s medicines include Enbrel for certain inflammatory diseases; Prolia and Evenity for bone-related conditions; Xgeva for complications associated with cancer and bone disease; Repatha for cardiovascular risk reduction; Otezla for inflammatory conditions; and Aimovig for migraine prevention.
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