Barclays Issues Positive Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price objective lifted by equities researchers at Barclays from $350.00 to $360.00 in a report released on Wednesday, Marketbeat.com reports. The firm currently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price target points to a potential downside of 8.42% from the stock’s previous close.

Several other equities research analysts have also weighed in on the stock. The Goldman Sachs Group set a $389.00 price objective on shares of Amgen in a research note on Friday, June 5th. Erste Group Bank restated a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Freedom Capital upgraded Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Argus dropped their target price on Amgen from $400.00 to $375.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada reissued a “positive” rating on shares of Amgen in a report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Amgen has an average rating of “Hold” and an average target price of $357.00.

Amgen Stock Performance

Shares of AMGN opened at $393.10 on Wednesday. The stock has a market capitalization of $212.16 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 3.81 and a beta of 0.41. The business’s fifty day moving average price is $353.56 and its 200 day moving average price is $352.71. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. Amgen has a 12-month low of $269.77 and a 12-month high of $398.00.

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, beating the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the previous year, the firm earned $4.90 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities research analysts forecast that Amgen will post 22.31 EPS for the current year.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the transaction, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.85% of the stock is owned by company insiders.

Institutional Trading of Amgen

Hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in Amgen during the 4th quarter valued at $2,164,162,000. Capital World Investors lifted its holdings in shares of Amgen by 22.9% in the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. State Street Corp boosted its position in shares of Amgen by 4.4% in the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock worth $10,012,872,000 after buying an additional 1,287,310 shares during the period. Geode Capital Management LLC grew its holdings in shares of Amgen by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after buying an additional 1,035,779 shares in the last quarter. Finally, Amundi grew its holdings in shares of Amgen by 41.1% during the fourth quarter. Amundi now owns 3,396,945 shares of the medical research company’s stock valued at $1,111,854,000 after buying an additional 988,856 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

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.