Amgen (NASDAQ:AMGN) Price Target Raised to $325.00 at Wells Fargo & Company

Amgen (NASDAQ:AMGN) had its target price raised by Wells Fargo & Company from $300.00 to $325.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm presently has an “equal weight” rating on the medical research company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 3.52% from the stock’s current price.

Several other analysts also recently commented on AMGN. Piper Sandler lifted their target price on shares of Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Erste Group Bank upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Morgan Stanley decreased their price objective on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Raymond James Financial began coverage on Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Finally, Daiwa Capital Markets upped their price objective on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.10.

Amgen Price Performance

Shares of AMGN opened at $313.95 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45. The company’s fifty day simple moving average is $314.99 and its 200 day simple moving average is $298.07. Amgen has a 1-year low of $253.30 and a 1-year high of $346.38. The company has a market cap of $169.06 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.90 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. During the same period in the prior year, the firm earned $5.58 EPS. Amgen’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, research analysts forecast that Amgen will post 20.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction 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 represents a 14.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the transaction, the senior vice president owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 10,908 shares of company stock worth $3,674,966. 0.69% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amgen

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

About Amgen

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.