Daiwa Securities Group Forecasts Strong Price Appreciation for Amgen (NASDAQ:AMGN) Stock

Amgen (NASDAQ:AMGN) had its target price raised by equities researchers at Daiwa Securities Group from $370.00 to $410.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Daiwa Securities Group’s price target points to a potential upside of 10.06% from the stock’s current price.

Several other equities analysts have also recently commented on the company. Argus boosted their target price on Amgen from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday. HSBC reissued a “buy” rating and set a $425.00 price objective on shares of Amgen in a report on Wednesday, December 10th. Wells Fargo & Company raised 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. Weiss Ratings reissued a “buy (b)” rating on shares of Amgen in a research note on Monday, December 29th. Finally, Scotiabank assumed coverage on shares of Amgen in a report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price objective for the company. 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 given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $353.39.

Amgen Stock Performance

Shares of AMGN opened at $372.54 on Tuesday. The firm has a market cap of $200.60 billion, a PE ratio of 26.16, a PEG ratio of 3.96 and a beta of 0.46. Amgen has a 1 year low of $261.43 and a 1 year high of $385.12. The company has a debt-to-equity ratio of 5.78, a current ratio of 1.14 and a quick ratio of 0.90. The stock’s fifty day moving average price is $335.21 and its two-hundred day moving average price is $311.98.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.87 billion for the quarter, compared to the consensus estimate of $9.46 billion. During the same quarter in the prior year, the business posted $5.31 earnings per share. The business’s quarterly 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, equities research analysts forecast that Amgen will post 20.62 EPS for the current year.

Insider Activity at Amgen

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

Institutional Trading of Amgen

Institutional investors have recently added to or reduced their stakes in the business. Cornerstone Select Advisors LLC raised its position in Amgen by 3.5% in the 4th quarter. Cornerstone Select Advisors LLC now owns 4,067 shares of the medical research company’s stock worth $1,331,000 after buying an additional 137 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Amgen in the fourth quarter worth approximately $86,737,000. Zhang Financial LLC grew its stake in shares of Amgen by 11.0% in the fourth quarter. Zhang Financial LLC now owns 19,273 shares of the medical research company’s stock worth $6,308,000 after acquiring an additional 1,915 shares during the period. Fideuram Asset Management Ireland dac purchased a new position in shares of Amgen during the fourth quarter valued at approximately $5,395,000. Finally, Fiducient Advisors LLC lifted its position in Amgen by 4.5% during the fourth quarter. Fiducient Advisors LLC now owns 5,427 shares of the medical research company’s stock valued at $1,776,000 after purchasing an additional 232 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Company Profile

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.