Amgen (NASDAQ:AMGN) Given New $390.00 Price Target at Wells Fargo & Company

Amgen (NASDAQ:AMGN) had its target price upped by research analysts at Wells Fargo & Company from $375.00 to $390.00 in a research report issued to clients and investors on Thursday,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 10.96% from the company’s previous close.

Several other research firms have also recently weighed in on AMGN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amgen in a research note on Monday, December 29th. Barclays started coverage on shares of Amgen in a report on Friday, February 20th. They set an “equal weight” rating and a $350.00 price objective for the company. The Goldman Sachs Group lifted their target price on Amgen from $403.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. 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, February 6th. Finally, Sanford C. Bernstein lowered Amgen from an “outperform” rating to a “market perform” rating and set a $335.00 price target for the company. in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Amgen presently has an average rating of “Hold” and an average price target of $354.60.

Amgen Stock Performance

NASDAQ:AMGN opened at $351.48 on Thursday. The stock has a 50-day moving average price of $359.46 and a 200 day moving average price of $326.94. The stock has a market capitalization of $189.47 billion, a P/E ratio of 24.70, a P/E/G ratio of 3.58 and a beta of 0.45. Amgen has a 12-month low of $261.43 and a 12-month high of $391.29. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 5.78.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned $5.31 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. Equities research analysts forecast that Amgen will post 20.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Amgen

Institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC raised its holdings in shares of Amgen by 2.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 160,646 shares of the medical research company’s stock valued at $45,334,000 after purchasing an additional 3,619 shares in the last quarter. Davis Capital Management purchased a new stake in shares of Amgen in the 3rd quarter worth approximately $1,841,000. D.A. Davidson & CO. boosted its stake in shares of Amgen by 2.6% during the third quarter. D.A. Davidson & CO. now owns 243,054 shares of the medical research company’s stock valued at $68,590,000 after purchasing an additional 6,222 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Amgen by 56.2% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 13,056 shares of the medical research company’s stock valued at $3,684,000 after purchasing an additional 4,699 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Amgen by 18.2% during the third quarter. Jones Financial Companies Lllp now owns 39,778 shares of the medical research company’s stock valued at $10,888,000 after buying an additional 6,115 shares during the period. 76.50% of the stock is owned by 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.