Amgen (NASDAQ:AMGN – Get Free Report) had its price objective lifted by analysts at Citigroup from $405.00 to $465.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the medical research company’s stock. Citigroup‘s target price would suggest a potential downside of 2.83% from the stock’s previous close.
A number of other brokerages have also recently commented on AMGN. Royal Bank Of Canada boosted their target price on shares of Amgen from $430.00 to $470.00 and gave the company an “outperform” rating in a report on Wednesday. Weiss Ratings raised shares of Amgen from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Wells Fargo & Company boosted their price objective on shares of Amgen from $430.00 to $460.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Barclays upped their price objective on shares of Amgen from $380.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 21st. Finally, Bank of America lifted their target price on shares of Amgen from $312.00 to $317.00 and gave the company an “underperform” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $410.28.
Read Our Latest Report on AMGN
Amgen Stock Up 3.7%
AMGN traded up $17.28 on Wednesday, hitting $478.54. The company had a trading volume of 3,229,362 shares, compared to its average volume of 2,751,069. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. Amgen has a 52-week low of $302.13 and a 52-week high of $482.48. The stock has a fifty day simple moving average of $420.83 and a 200-day simple moving average of $376.16. The firm has a market capitalization of $258.71 billion, a P/E ratio of 29.74, a P/E/G ratio of 3.41 and a beta of 0.43.
Amgen (NASDAQ:AMGN – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share for the quarter, topping analysts’ consensus estimates of $5.79 by $0.66. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The firm had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter in the prior year, the business earned $5.64 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts expect that Amgen will post 22.96 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Nancy Grygiel sold 2,970 shares of Amgen stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the sale, the senior vice president owned 7,340 shares of the company’s stock, valued at $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 6,222 shares of company stock worth $2,540,926. Corporate insiders own 0.85% of the company’s stock.
Institutional Investors Weigh In On Amgen
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. State Street Corp grew its stake in Amgen by 38.2% during the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock worth $15,283,363,000 after purchasing an additional 11,656,755 shares during the period. MW Advisory LLC acquired a new position in Amgen in the second quarter valued at approximately $1,054,000. Baird Financial Group Inc. lifted its stake in Amgen by 1.6% in the second quarter. Baird Financial Group Inc. now owns 339,825 shares of the medical research company’s stock valued at $123,057,000 after buying an additional 5,496 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Amgen by 105.8% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 13,514 shares of the medical research company’s stock valued at $5,696,000 after buying an additional 6,947 shares during the period. Finally, Nilsine Partners LLC bought a new stake in shares of Amgen in the 2nd quarter valued at $3,329,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.
Key Stories Impacting Amgen
Here are the key news stories impacting Amgen this week:
- Positive Sentiment: Amgen beat estimates with third-quarter revenue of $10.37 billion, up 8.5% year over year, and earnings per share of $6.45. It also raised its 2026 revenue and earnings guidance, helping support investor optimism. Read More.
- Positive Sentiment: Growth in products including Repatha and cancer drug IMDELLTRA is helping offset weakness elsewhere. Progress across the pipeline, alongside potential longer-term upside from obesity candidate MariTide, adds to the growth case. Read More.
- Neutral Sentiment: Analyst target increases were mixed in their implications: Goldman Sachs raised its target to $536 and kept a Buy rating, while several other firms maintained neutral or hold ratings and set targets below the recent share price. Read More.
- Negative Sentiment: Competition from biosimilars is weighing on Prolia and Xgeva sales, tempering the earnings beat and raising concerns about the impact on established products. Amgen also received an FDA warning letter concerning Vectibix promotion. Read More. · Read More.
Amgen Company Profile
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 neuroscience.
The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.
Founded in 1980, Amgen is headquartered in Thousand Oaks, California.
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