Amgen (NASDAQ:AMGN) Price Target Raised to $295.00

Amgen (NASDAQ:AMGN) had its price target boosted by Deutsche Bank Aktiengesellschaft from $285.00 to $295.00 in a research report issued on Thursday,MarketScreener reports. The brokerage presently has a “hold” rating on the medical research company’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential downside of 19.79% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Cantor Fitzgerald increased their price objective on Amgen from $315.00 to $350.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup increased their target price on shares of Amgen from $315.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of Amgen from $300.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. Guggenheim upped their price target on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Scotiabank assumed coverage on Amgen in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $348.09.

Amgen Trading Up 0.4%

Shares of AMGN stock opened at $367.80 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.14 and a debt-to-equity ratio of 5.78. The stock has a 50-day simple moving average of $333.66 and a 200 day simple moving average of $310.84. Amgen has a fifty-two week low of $261.43 and a fifty-two week high of $374.90. The stock has a market capitalization of $198.05 billion, a P/E ratio of 25.85, a P/E/G ratio of 3.20 and a beta of 0.46.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.76 by $0.53. Amgen had a return on equity of 148.37% and a net margin of 20.98%.The company had revenue of $9.87 billion for the quarter, compared to analysts’ expectations of $9.46 billion. During the same quarter in the prior year, the company earned $5.31 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. On average, sell-side analysts expect that Amgen will post 20.62 earnings per share for the current fiscal year.

Insider Transactions at Amgen

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction on Wednesday, November 12th. The stock was 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 in the company, valued at approximately $14,120,924.09. This trade represents a 14.10% decrease in their position. The sale 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 stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the transaction, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 10,908 shares of company stock worth $3,674,966. Corporate insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Amgen

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dogwood Wealth Management LLC boosted its position in shares of Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after buying an additional 55 shares during the period. Anfield Capital Management LLC increased its position in Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after buying an additional 70 shares during the period. Board of the Pension Protection Fund acquired a new stake in shares of Amgen during the fourth quarter worth $26,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen in the second quarter valued at about $27,000. Finally, Manning & Napier Advisors LLC increased its position in Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after acquiring an additional 32 shares during the period. 76.50% of the stock is owned by institutional investors.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.