Amgen (NASDAQ:AMGN) Price Target Cut to $375.00 by Analysts at Argus

Amgen (NASDAQ:AMGN) had its price objective cut by research analysts at Argus from $400.00 to $375.00 in a report released on Wednesday,MarketScreener reports. The firm currently has a “buy” rating on the medical research company’s stock. Argus’ price target would indicate a potential upside of 13.89% from the stock’s current price.

A number of other research firms have also issued reports on AMGN. Deutsche Bank Aktiengesellschaft upped their price target on shares of Amgen from $285.00 to $295.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Cantor Fitzgerald reissued a “neutral” rating and issued a $350.00 price objective on shares of Amgen in a report on Wednesday, April 8th. TD Cowen restated a “buy” rating on shares of Amgen in a research note on Wednesday, February 4th. Mizuho raised their target price on Amgen from $280.00 to $295.00 and gave the stock an “outperform” rating in a report on Tuesday, February 10th. Finally, Morgan Stanley set a $332.00 price target on Amgen in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $355.19.

Amgen Stock Down 0.5%

NASDAQ AMGN traded down $1.50 on Wednesday, hitting $329.25. The stock had a trading volume of 724,479 shares, compared to its average volume of 2,725,798. Amgen has a 52-week low of $267.83 and a 52-week high of $391.29. The business’s fifty day moving average price is $347.53 and its 200 day moving average price is $343.86. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The stock has a market cap of $177.69 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 3.26 and a beta of 0.44.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.77 by $0.38. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. Amgen’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities research analysts anticipate that Amgen will post 22.37 earnings per share for the current year.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, the senior vice president directly owned 7,009 shares in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is owned by insiders.

Institutional Trading of Amgen

Several large investors have recently bought and sold shares of the business. Anfield Capital Management LLC increased its stake in shares of Amgen by 1,000.0% in the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after acquiring an additional 70 shares during the last quarter. Dogwood Wealth Management LLC boosted its position in shares of Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 55 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Amgen during the 4th quarter valued at about $26,000. Tower View Wealth Management LLC grew its holdings in shares of Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 63 shares during the period. 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 purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

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.