Amgen (NASDAQ:AMGN) Rating Lowered to Buy at Wall Street Zen

Amgen (NASDAQ:AMGN) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

Several other research firms have also issued reports on AMGN. The Goldman Sachs Group restated a “buy” rating on shares of Amgen in a report on Tuesday, November 25th. Erste Group Bank raised Amgen from a “hold” rating to a “buy” rating in a research report on Friday. Daiwa Capital Markets boosted their price objective on Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Scotiabank started coverage on Amgen in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 target price for the company. Finally, Guggenheim lifted their target price on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $335.65.

Amgen Stock Performance

Shares of AMGN stock opened at $321.23 on Friday. The stock has a market capitalization of $172.98 billion, a PE ratio of 24.82, a PEG ratio of 2.98 and a beta of 0.45. The business’s 50 day simple moving average is $314.36 and its 200 day simple moving average is $297.78. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99. Amgen has a one year low of $253.30 and a one year high of $346.38.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter in the previous year, the company earned $5.58 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, research analysts forecast that Amgen will post 20.62 earnings per share for the current year.

Insider Buying and Selling at Amgen

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total value of $2,317,053.57. Following the transaction, the executive vice president directly owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the sale, the senior vice president directly owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 10,908 shares of company stock valued at $3,674,966. Corporate insiders own 0.69% of the company’s stock.

Institutional Trading of Amgen

Several institutional investors and hedge funds have recently modified their holdings of the stock. West Family Investments Inc. grew its position in shares of Amgen by 1.1% during the 3rd quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company’s stock valued at $779,000 after acquiring an additional 30 shares during the period. Viawealth LLC lifted its stake in Amgen by 0.4% in the third quarter. Viawealth LLC now owns 7,168 shares of the medical research company’s stock valued at $2,023,000 after purchasing an additional 30 shares during the last quarter. LOM Asset Management Ltd grew its holdings in Amgen by 1.2% during the third quarter. LOM Asset Management Ltd now owns 2,554 shares of the medical research company’s stock valued at $721,000 after purchasing an additional 30 shares during the period. Sittner & Nelson LLC increased its position in Amgen by 0.4% in the third quarter. Sittner & Nelson LLC now owns 7,276 shares of the medical research company’s stock worth $2,053,000 after buying an additional 30 shares during the last quarter. Finally, TAGStone Capital Inc. increased its position in Amgen by 0.8% in the third quarter. TAGStone Capital Inc. now owns 4,101 shares of the medical research company’s stock worth $1,157,000 after buying an additional 32 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

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.