Amgen (NASDAQ:AMGN) Given New $364.00 Price Target at DZ Bank

Amgen (NASDAQ:AMGN) had its target price increased by DZ Bank from $335.00 to $364.00 in a research note issued to investors on Monday,MarketScreener reports. DZ Bank’s price target points to a potential upside of 12.07% from the stock’s previous close.

AMGN has been the subject of a number of other reports. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Guggenheim lifted their target price on Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a research note on Thursday. Raymond James Financial assumed coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. The Goldman Sachs Group lowered their price target on Amgen from $405.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, Piper Sandler reissued an “overweight” rating on shares of Amgen in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Amgen has an average rating of “Hold” and a consensus target price of $311.74.

Amgen Trading Up 1.4%

Shares of AMGN stock opened at $324.80 on Monday. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a fifty day moving average of $289.94 and a 200-day moving average of $288.65. Amgen has a 52-week low of $253.30 and a 52-week high of $335.88. The stock has a market cap of $174.90 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.01 by $0.63. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same quarter in the prior year, the business posted $5.58 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities research analysts forecast that Amgen will post 20.62 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred 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 sale, the senior vice president owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen during the first quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after buying an additional 85 shares during the last quarter. Evelyn Partners Investment Management LLP purchased a new stake in Amgen during the second quarter worth about $32,000. Finally, Howard Hughes Medical Institute bought a new stake in Amgen in the second quarter worth about $32,000. Institutional investors and hedge funds 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.