HSBC Forecasts Strong Price Appreciation for Amgen (NASDAQ:AMGN) Stock

Amgen (NASDAQ:AMGN) had its price target lifted by equities research analysts at HSBC from $343.00 to $381.00 in a note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the medical research company’s stock. HSBC’s price target would indicate a potential upside of 11.22% from the stock’s current price.

AMGN has been the topic of several other research reports. The Goldman Sachs Group cut their price target on Amgen from $405.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. Wells Fargo & Company increased their price target on shares of Amgen from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Morgan Stanley dropped their price target on Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Finally, Piper Sandler raised their price objective on shares of Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $319.90.

Amgen Trading Down 0.4%

NASDAQ AMGN opened at $342.55 on Wednesday. The firm has a market capitalization of $184.46 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. The business’s 50-day moving average price is $297.43 and its two-hundred day moving average price is $291.24. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen has a 12 month low of $253.30 and a 12 month high of $345.84.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company 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 posted $5.58 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, analysts expect that Amgen will post 20.62 EPS for the current year.

Insider Buying and Selling at Amgen

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the sale, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the transaction, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. This trade represents a 11.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.76% of the stock is currently owned by insiders.

Institutional Trading of Amgen

Several hedge funds and other institutional investors have recently bought and sold shares of AMGN. Wealth Preservation Advisors LLC purchased a new stake in Amgen in the 1st quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen in the 2nd quarter worth about $27,000. CBIZ Investment Advisory Services LLC lifted its position in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 85 shares during the period. Evelyn Partners Investment Management LLP bought a new stake in Amgen during the second quarter worth about $32,000. Finally, Howard Hughes Medical Institute purchased a new stake in Amgen in the second quarter worth about $32,000. Institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

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.