Amgen (NASDAQ:AMGN) Stock Price Target Raised at Truist Financial

Amgen (NASDAQ:AMGN) had its target price lifted by research analysts at Truist Financial from $362.00 to $380.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the medical research company’s stock. Truist Financial’s price objective indicates a potential downside of 8.28% from the company’s previous close.

AMGN has been the topic of a number of other reports. Canaccord Genuity Group increased their price target on Amgen from $366.00 to $384.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. HSBC lowered Amgen from a “buy” rating to a “hold” rating and dropped their target price for the stock from $445.00 to $425.00 in a research report on Thursday, September 10th. Bank of America increased their price objective on shares of Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a report on Wednesday, August 5th. Oppenheimer reiterated an “outperform” rating on shares of Amgen in a research report on Wednesday, September 23rd. Finally, Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $385.79.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $11.71 during midday trading on Wednesday, hitting $414.31. The company’s stock had a trading volume of 625,023 shares, compared to its average volume of 2,749,887. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. Amgen has a 1-year low of $288.00 and a 1-year high of $447.03. The firm’s fifty day moving average price is $411.44 and its 200-day moving average price is $371.01. The firm has a market cap of $223.99 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.91 and a beta of 0.41.

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

Insider Transactions at Amgen

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. MW Advisory LLC bought a new position in shares of Amgen during the 2nd quarter worth approximately $1,054,000. Baird Financial Group Inc. grew its position in Amgen by 1.6% in the second quarter. Baird Financial Group Inc. now owns 339,825 shares of the medical research company’s stock valued at $123,057,000 after acquiring an additional 5,496 shares during the period. Integrated Advisors Network LLC grew its position in Amgen by 50.5% in the first quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company’s stock valued at $6,664,000 after acquiring an additional 6,356 shares during the period. KBC Group NV raised its stake in Amgen by 51.7% during the second quarter. KBC Group NV now owns 382,676 shares of the medical research company’s stock worth $138,574,000 after acquiring an additional 130,497 shares in the last quarter. Finally, Nilsine Partners LLC acquired a new position in Amgen during the second quarter worth $3,329,000. 76.50% of the stock is currently owned by 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.