Argus Boosts Amgen (NASDAQ:AMGN) Price Target to $360.00

Amgen (NASDAQ:AMGN) had its target price boosted by equities research analysts at Argus from $310.00 to $360.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the medical research company’s stock. Argus’ price target would indicate a potential upside of 9.21% from the company’s current price.

Other equities analysts have also issued reports about the company. Guggenheim upped their target price on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Bank of America boosted their price target on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Piper Sandler raised their price objective on shares of Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Truist Financial began coverage on shares of Amgen in a report on Monday, November 24th. They issued a “hold” rating and a $318.00 target price on the stock. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Amgen in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average target price of $334.14.

Amgen Stock Down 1.0%

Amgen stock opened at $329.63 on Tuesday. The firm has a 50 day moving average price of $323.50 and a two-hundred day moving average price of $301.99. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. Amgen has a 52-week low of $257.05 and a 52-week high of $346.38. The firm has a market cap of $177.50 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 3.09 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.01 by $0.63. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. During the same period in the prior year, the firm earned $5.58 earnings per share. Amgen’s revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities analysts predict that Amgen will post 20.62 EPS for the current year.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the sale, the senior vice president directly owned 7,225 shares of the company’s stock, valued at $2,436,703.50. This trade represents a 30.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the sale, the senior vice president owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 10,908 shares of company stock worth $3,674,966. Insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Amgen

A number of large investors have recently added to or reduced their stakes in AMGN. Vanguard Group Inc. increased its position in shares of Amgen by 0.3% in the third quarter. Vanguard Group Inc. now owns 53,876,851 shares of the medical research company’s stock valued at $15,204,047,000 after acquiring an additional 165,281 shares during the period. State Street Corp boosted its holdings in shares of Amgen by 0.6% during the second quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock worth $8,196,775,000 after purchasing an additional 177,035 shares during the period. Capital International Investors grew its stake in shares of Amgen by 1.5% in the third quarter. Capital International Investors now owns 19,192,995 shares of the medical research company’s stock worth $5,414,296,000 after purchasing an additional 282,219 shares during the last quarter. Capital World Investors increased its holdings in Amgen by 11.5% during the 3rd quarter. Capital World Investors now owns 18,795,474 shares of the medical research company’s stock valued at $5,303,578,000 after purchasing an additional 1,935,876 shares during the period. Finally, Geode Capital Management LLC raised its position in Amgen by 2.3% during 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 purchasing an additional 291,271 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

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.