Amgen (NASDAQ:AMGN) Given New $305.00 Price Target at Guggenheim

Amgen (NASDAQ:AMGN) had its price objective boosted by Guggenheim from $288.00 to $305.00 in a research note issued on Thursday,MarketScreener reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. Guggenheim’s target price indicates a potential downside of 4.70% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. UBS Group lowered their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Bank of America boosted their price target on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Piper Sandler reissued an “overweight” rating on shares of Amgen in a report on Wednesday. Cantor Fitzgerald lifted their target price on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus price target of $308.83.

Amgen Price Performance

Shares of Amgen stock traded up $4.45 during trading hours on Thursday, hitting $320.04. The company’s stock had a trading volume of 1,385,479 shares, compared to its average volume of 2,731,755. The company has a market cap of $172.30 billion, a PE ratio of 26.16, a PEG ratio of 2.61 and a beta of 0.45. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The business has a 50 day moving average price of $289.29 and a two-hundred day moving average price of $288.18. Amgen has a 12-month low of $253.30 and a 12-month high of $335.88.

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, beating 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 company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter last year, the company earned $5.58 EPS. The firm’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. Analysts expect that Amgen will post 20.62 earnings per share for the current fiscal year.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amgen

Institutional investors and hedge funds have recently modified their holdings of the business. Wealth Preservation Advisors LLC bought a new stake in Amgen during the 1st quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after acquiring an additional 85 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the second quarter valued at approximately $27,000. Activest Wealth Management boosted its holdings in shares of Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares during the period. Finally, Evelyn Partners Investment Management LLP bought a new position in Amgen in the second quarter worth approximately $32,000. 76.50% of the stock is owned by institutional investors.

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.