Guggenheim Issues Positive Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price objective raised by stock analysts at Guggenheim from $340.00 to $343.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. Guggenheim’s target price would indicate a potential downside of 5.61% from the company’s previous close.

AMGN has been the subject of a number of other research reports. Daiwa Securities Group lowered their target price on Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Cantor Fitzgerald restated a “neutral” rating and issued a $350.00 price target on shares of Amgen in a report on Monday, July 6th. The Goldman Sachs Group set a $389.00 price target on Amgen in a report on Friday, June 5th. Royal Bank Of Canada reiterated a “positive” rating on shares of Amgen in a research note on Thursday, June 18th. Finally, Morgan Stanley decreased their target price on shares of Amgen from $340.00 to $333.00 and set an “equal weight” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $355.85.

Amgen Stock Performance

NASDAQ:AMGN opened at $363.39 on Monday. The firm’s fifty day simple moving average is $344.81 and its 200 day simple moving average is $349.45. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. Amgen has a twelve month low of $269.77 and a twelve month high of $391.29. The firm has a market capitalization of $196.13 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 3.59 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the prior year, the firm earned $4.90 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities research analysts expect that Amgen will post 22.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, the senior vice president owned 7,009 shares of the company’s stock, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amgen

Several large investors have recently modified their holdings of the stock. High Note Wealth LLC lifted its holdings in Amgen by 5.8% during the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock worth $166,000 after buying an additional 28 shares during the last quarter. TAGStone Capital Inc. increased its holdings in shares of Amgen by 0.7% in the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company’s stock valued at $1,351,000 after acquiring an additional 28 shares during the last quarter. Verus Capital Partners LLC raised its position in shares of Amgen by 2.3% during the 4th quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company’s stock valued at $403,000 after acquiring an additional 28 shares in the last quarter. Destination Wealth Management raised its position in shares of Amgen by 2.1% during the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company’s stock valued at $456,000 after acquiring an additional 29 shares in the last quarter. Finally, Breakwater Capital Group lifted its stake in Amgen by 1.4% during the first quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company’s stock worth $717,000 after purchasing an additional 29 shares during the last quarter. 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.