Amgen (NASDAQ:AMGN) Given New $530.00 Price Target at UBS Group

Amgen (NASDAQ:AMGN) had its price objective upped by equities researchers at UBS Group from $470.00 to $530.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. UBS Group‘s target price would suggest a potential upside of 10.77% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Amgen from $359.00 to $410.00 and gave the company an “equal weight” rating in a report on Wednesday. Sanford C. Bernstein reiterated a “market perform” rating and issued a $400.00 price objective on shares of Amgen in a research report on Wednesday. BMO Capital Markets lowered their target price on shares of Amgen from $450.00 to $415.00 and set a “market perform” rating on the stock in a research note on Monday, October 12th. Cantor Fitzgerald raised their target price on Amgen from $440.00 to $465.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Canaccord Genuity Group set a $440.00 target price on Amgen in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Amgen has a consensus rating of “Hold” and an average target price of $413.38.

Amgen Stock Performance

AMGN stock traded up $17.22 during trading on Wednesday, hitting $478.48. 4,618,234 shares of the company traded hands, compared to its average volume of 2,758,517. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. Amgen has a 1 year low of $302.13 and a 1 year high of $482.48. The stock’s 50-day simple moving average is $420.83 and its 200 day simple moving average is $376.16. The company has a market cap of $258.68 billion, a PE ratio of 29.74, a P/E/G ratio of 3.41 and a beta of 0.43.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share for the quarter, beating the consensus estimate of $5.79 by $0.66. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same period in the previous year, the firm earned $5.64 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts expect that Amgen will post 22.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the sale, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Rachna Khosla sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,642,098.28. This represents a 23.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,222 shares of company stock valued at $2,540,926 over the last 90 days. 0.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its stake in Amgen by 38.2% during the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock worth $15,283,363,000 after purchasing an additional 11,656,755 shares during the last quarter. Bank of America Corp DE bought a new stake in Amgen during the second quarter valued at $1,831,903,000. Wellington Management Group LLP increased its stake in Amgen by 1,102.7% during the second quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company’s stock valued at $993,031,000 after purchasing an additional 2,514,254 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Amgen by 4.8% during the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock worth $17,874,974,000 after purchasing an additional 2,261,544 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Amgen by 702.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,535,257 shares of the medical research company’s stock worth $647,126,000 after purchasing an additional 1,344,010 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported adjusted Q3 EPS of $6.45 and revenue of $10.37 billion, both ahead of analyst expectations, with revenue up 8.5% year over year. The company also raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and its GAAP EPS outlook to $18.34–$19.28. Amgen Q3 financial results
• Positive Sentiment: Investors also saw support in growth medicines and pipeline prospects: Repatha and IMDELLTRA helped offset declines elsewhere, while the company highlighted progress for IMDELLTRA and potential longer-term opportunity from MariTide. Amgen outlook and product growth
• Positive Sentiment: Several firms lifted price targets, including Goldman Sachs to $536 and Scotiabank to $530; William Blair reaffirmed its Outperform rating. Scotiabank price target
• Negative Sentiment: Biosimilar competition is weighing on Prolia and Xgeva, and declines in those products remain a risk even as growth brands expand. Some analysts also remain cautious: price targets from firms including JPMorgan and Citigroup were below the prevailing share price, while Bank of America maintained a Sell rating. Q3 pipeline and outlook analysis

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.