Amgen Inc. (NASDAQ:AMGN) Receives $305.65 Average Target Price from Analysts

Shares of Amgen Inc. (NASDAQ:AMGNGet Free Report) have earned a consensus rating of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $305.65.

Several equities analysts recently commented on AMGN shares. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. BMO Capital Markets increased their target price on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $230.00 to $300.00 in a research report on Friday, May 3rd. Truist Financial reaffirmed a “buy” rating and issued a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Finally, Raymond James began coverage on Amgen in a report on Thursday, March 28th. They set a “market perform” rating on the stock.

Check Out Our Latest Stock Report on Amgen

Amgen Trading Up 1.6 %

Shares of NASDAQ:AMGN opened at $305.85 on Friday. Amgen has a 52-week low of $211.71 and a 52-week high of $329.72. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The company has a market cap of $164.07 billion, a P/E ratio of 43.69, a P/E/G ratio of 2.72 and a beta of 0.60. The stock’s 50-day moving average is $287.82 and its 200-day moving average is $286.79.

Amgen (NASDAQ:AMGNGet Free Report) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. During the same quarter last year, the firm posted $3.98 EPS. The company’s revenue was up 22.0% on a year-over-year basis. Equities research analysts predict that Amgen will post 19.47 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 2.94%. Amgen’s dividend payout ratio is 128.57%.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. WealthPlan Investment Management LLC raised its position in Amgen by 82.6% in the 3rd quarter. WealthPlan Investment Management LLC now owns 840 shares of the medical research company’s stock worth $226,000 after purchasing an additional 380 shares during the last quarter. LGT Group Foundation raised its position in shares of Amgen by 10.2% during the third quarter. LGT Group Foundation now owns 7,421 shares of the medical research company’s stock worth $1,976,000 after acquiring an additional 686 shares during the last quarter. Donoghue Forlines LLC acquired a new position in shares of Amgen during the third quarter valued at $631,000. PFG Investments LLC boosted its holdings in Amgen by 9.2% in the third quarter. PFG Investments LLC now owns 2,028 shares of the medical research company’s stock valued at $545,000 after acquiring an additional 171 shares during the last quarter. Finally, Keystone Financial Group increased its position in Amgen by 3.5% in the third quarter. Keystone Financial Group now owns 1,459 shares of the medical research company’s stock worth $392,000 after purchasing an additional 49 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Company Profile

(Get Free Report

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.

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