Amgen (NASDAQ:AMGN) Price Target Raised to $305.00 at Guggenheim

Amgen (NASDAQ:AMGN) had its price target raised by equities researchers at Guggenheim from $288.00 to $305.00 in a research report issued on Thursday,MarketScreener reports. The firm presently has a “neutral” rating on the medical research company’s stock. Guggenheim’s target price would suggest a potential downside of 4.70% from the company’s previous close.

AMGN has been the topic of a number of other research reports. Piper Sandler restated an “overweight” rating on shares of Amgen in a report on Wednesday. Citigroup upped their price objective on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Cantor Fitzgerald increased their price target on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday. Bank of America lifted their price objective on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Finally, Raymond James Financial initiated coverage on Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating for the company. Eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $308.83.

Amgen Price Performance

NASDAQ AMGN traded up $4.45 during trading on Thursday, reaching $320.04. The company’s stock had a trading volume of 1,385,479 shares, compared to its average volume of 2,731,755. The stock has a market capitalization of $172.30 billion, a PE ratio of 26.16, a P/E/G ratio of 2.61 and a beta of 0.45. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The firm has a fifty day moving average of $289.29 and a 200 day moving average of $288.18. Amgen has a one year low of $253.30 and a one year high of $335.88.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating the consensus estimate of $5.01 by $0.63. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Analysts expect that Amgen will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Axxcess Wealth Management LLC boosted its holdings in shares of Amgen by 59.0% in the third quarter. Axxcess Wealth Management LLC now owns 16,638 shares of the medical research company’s stock worth $4,695,000 after buying an additional 6,172 shares during the last quarter. Cora Capital Advisors LLC grew its holdings in Amgen by 5.1% during the third quarter. Cora Capital Advisors LLC now owns 1,059 shares of the medical research company’s stock valued at $299,000 after purchasing an additional 51 shares during the period. Maridea Wealth Management LLC bought a new position in shares of Amgen in the third quarter worth about $219,000. BBR Partners LLC increased its holdings in Amgen by 0.5% in the 3rd quarter. BBR Partners LLC now owns 7,117 shares of the medical research company’s stock worth $2,008,000 after acquiring an additional 32 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC raised its stake in Amgen by 1.9% during the 3rd quarter. Marble Harbor Investment Counsel LLC now owns 2,294 shares of the medical research company’s stock worth $647,000 after acquiring an additional 42 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

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.