Morgan Stanley Has Lowered Expectations for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price target cut by Morgan Stanley from $333.00 to $329.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has an “equal weight” rating on the medical research company’s stock. Morgan Stanley’s price target points to a potential upside of 10.89% from the company’s current price.

Other analysts have also issued research reports about the company. The Goldman Sachs Group lowered their target price on Amgen from $405.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Wells Fargo & Company set a $300.00 price objective on shares of Amgen in a research note on Wednesday. Bank of America increased their target price on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Finally, Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus price target of $307.33.

Amgen Price Performance

Shares of AMGN opened at $296.70 on Wednesday. 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 twelve month low of $253.30 and a twelve month high of $335.88. The firm has a market capitalization of $159.73 billion, a PE ratio of 24.26, a P/E/G ratio of 2.61 and a beta of 0.49. The stock’s 50 day moving average is $288.05 and its two-hundred day moving average is $287.76.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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 return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. During the same quarter in the prior year, the business posted $5.58 earnings per share. Amgen’s revenue was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Research analysts anticipate that Amgen will post 20.62 earnings per share for the current year.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Amgen

Institutional investors and hedge funds have recently made changes to their positions in the company. OLD National Bancorp IN boosted its stake in Amgen by 296.2% during the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after purchasing an additional 13,460 shares in the last quarter. Trinity Legacy Partners LLC raised its holdings in Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after buying an additional 612 shares during the period. Founders Financial Alliance LLC lifted its position in shares of Amgen by 2.7% in the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after acquiring an additional 42 shares in the last quarter. Stephens Inc. AR lifted its holdings in shares of Amgen by 14.2% in the second quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after purchasing an additional 11,888 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in Amgen by 2.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,397 shares of the medical research company’s stock worth $86,423,000 after acquiring an additional 7,308 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

About Amgen

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.