Amgen (NASDAQ:AMGN) Stock Rating Lowered by Wall Street Zen

Amgen (NASDAQ:AMGN) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities analysts have also recently issued reports on the company. Piper Sandler upped their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Bank of America upped their target price on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Morgan Stanley upped their price target on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Citigroup upped their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Finally, Raymond James Financial began coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Amgen currently has an average rating of “Hold” and a consensus price target of $309.42.

Amgen Price Performance

Shares of AMGN opened at $290.13 on Friday. Amgen has a 12-month low of $253.30 and a 12-month high of $335.88. The business has a 50-day simple moving average of $286.77 and a two-hundred day simple moving average of $287.43. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The stock has a market cap of $156.19 billion, a PE ratio of 23.72, a PEG ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter in the prior year, the firm earned $4.97 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts anticipate that Amgen will post 20.62 earnings per share for the current fiscal year.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Amgen by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after purchasing an additional 841,117 shares in the last quarter. State Street Corp boosted its position in shares of Amgen by 0.6% during the 2nd quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock valued at $8,196,775,000 after purchasing an additional 177,035 shares in the last quarter. Geode Capital Management LLC raised its stake 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 worth $3,619,489,000 after buying an additional 291,271 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Amgen by 5.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock worth $3,600,043,000 after buying an additional 687,735 shares during the period. Finally, Laurel Wealth Advisors LLC raised its stake in Amgen by 27,765.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock worth $1,870,880,000 after buying an additional 6,676,575 shares during the period. Institutional investors own 76.50% of the company’s stock.

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.