Amgen (NASDAQ:AMGN) Given New $359.00 Price Target at Morgan Stanley

Amgen (NASDAQ:AMGN) had its price target dropped by investment analysts at Morgan Stanley from $362.00 to $359.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the medical research company’s stock. Morgan Stanley’s price objective indicates a potential downside of 13.11% from the company’s current price.

Other analysts also recently issued reports about the stock. Weiss Ratings raised shares of Amgen from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 6th. Piper Sandler lifted their price objective on shares of Amgen from $427.00 to $457.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Citigroup upped their price objective on shares of Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Jefferies Financial Group restated a “hold” rating and set a $410.00 target price on shares of Amgen in a research report on Wednesday, September 23rd. Finally, Mizuho lifted their price target on Amgen from $303.00 to $352.00 and gave the company a “neutral” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $385.14.

Amgen Stock Performance

NASDAQ:AMGN traded up $10.56 during trading hours on Wednesday, reaching $413.16. The company had a trading volume of 500,137 shares, compared to its average volume of 2,748,756. Amgen has a 1-year low of $288.00 and a 1-year high of $447.03. The firm has a market cap of $223.37 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41. The business’s 50 day moving average price is $411.44 and its 200-day moving average price is $371.01. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.62 by $0.67. The business had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Research analysts forecast that Amgen will post 22.94 EPS for the current year.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,252 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the transaction, the senior vice president owned 6,404 shares of the company’s stock, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the sale, the senior vice president owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 6,222 shares of company stock valued at $2,540,926 over the last 90 days. Company insiders own 0.85% of the company’s stock.

Institutional Trading of Amgen

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nautilus Advisors LLC raised its position in Amgen by 2.3% in the third quarter. Nautilus Advisors LLC now owns 2,096 shares of the medical research company’s stock valued at $884,000 after purchasing an additional 48 shares during the period. Rosenberg Matthew Hamilton increased its holdings in Amgen by 3.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 1,474 shares of the medical research company’s stock worth $621,000 after purchasing an additional 55 shares during the period. Park National Corp OH raised its position in Amgen by 7.9% in the 3rd quarter. Park National Corp OH now owns 2,442 shares of the medical research company’s stock valued at $1,029,000 after purchasing an additional 179 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its position in Amgen by 4.8% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 259,022 shares of the medical research company’s stock valued at $103,614,000 after purchasing an additional 11,950 shares in the last quarter. Finally, Eastern Bank boosted its stake in shares of Amgen by 1.7% in the 3rd quarter. Eastern Bank now owns 4,525 shares of the medical research company’s stock valued at $1,907,000 after buying an additional 76 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen’s portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.