Amgen (NASDAQ:AMGN) Price Target Raised to $315.00

Amgen (NASDAQ:AMGN) had its target price lifted by Citigroup from $310.00 to $315.00 in a research note published on Wednesday morning,MarketScreener reports. Citigroup currently has a neutral rating on the medical research company’s stock.

A number of other brokerages have also commented on AMGN. Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Bank of America boosted their target price on Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 23rd. Piper Sandler boosted their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Morgan Stanley boosted their target price on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $309.15.

Amgen Price Performance

Shares of AMGN stock opened at $279.22 on Wednesday. The stock has a 50-day moving average price of $289.84 and a 200 day moving average price of $289.92. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The firm has a market cap of $150.32 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.49 and a beta of 0.49. Amgen has a 12 month low of $253.30 and a 12 month high of $335.88.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts expect that Amgen will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, August 22nd. Amgen’s payout ratio is 77.84%.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amgen

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Amgen by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after acquiring an additional 841,117 shares in the last quarter. State Street Corp lifted its stake in Amgen by 0.6% in the 2nd quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock valued at $8,196,775,000 after acquiring an additional 177,035 shares in the last quarter. Geode Capital Management LLC lifted its stake in Amgen by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock valued at $3,619,489,000 after acquiring an additional 291,271 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Amgen by 5.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock valued at $3,600,043,000 after acquiring an additional 687,735 shares in the last quarter. Finally, Laurel Wealth Advisors LLC lifted its stake in Amgen by 27,765.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after acquiring an additional 6,676,575 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.