Amgen (NASDAQ:AMGN) Price Target Raised to $465.00

Amgen (NASDAQ:AMGN) had its price objective hoisted by Citigroup from $405.00 to $465.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the medical research company’s stock. Citigroup‘s target price would indicate a potential downside of 2.83% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Barclays increased their target price on Amgen from $380.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 21st. Mizuho boosted their price target on shares of Amgen from $303.00 to $352.00 and gave the company a “neutral” rating in a research note on Tuesday, August 18th. Piper Sandler upped their price objective on shares of Amgen from $427.00 to $457.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Sunday, October 18th. Finally, Morgan Stanley lifted their price objective on shares of Amgen from $359.00 to $410.00 and gave the company an “equal weight” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $410.28.

Amgen Stock Up 3.7%

Shares of AMGN traded up $17.28 during trading hours on Wednesday, hitting $478.54. The stock had a trading volume of 3,229,362 shares, compared to its average volume of 2,751,069. Amgen has a 1-year low of $302.13 and a 1-year high of $482.48. The firm has a market capitalization of $258.71 billion, a P/E ratio of 29.74, a price-to-earnings-growth ratio of 3.41 and a beta of 0.43. The firm has a 50 day simple moving average of $420.83 and a 200-day simple moving average of $376.16. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.79 by $0.66. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The business had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.07 billion. During the same quarter in the prior year, the company earned $5.64 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts predict that Amgen will post 22.96 EPS for the current fiscal year.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the sale, the senior vice president owned 6,404 shares in the company, valued at approximately $2,666,817.72. This trade represents a 16.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the transaction, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. The trade was a 28.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Amgen by 4.8% in the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after purchasing an additional 2,261,544 shares during the last quarter. State Street Corp raised its stake in shares of Amgen by 38.2% in the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock valued at $15,283,363,000 after buying an additional 11,656,755 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Amgen by 12.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company’s stock valued at $1,952,156,000 after buying an additional 605,928 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Amgen during the 2nd quarter valued at $1,831,903,000. Finally, Amundi grew its stake in shares of Amgen by 15.2% during the 2nd quarter. Amundi now owns 3,890,189 shares of the medical research company’s stock worth $1,408,715,000 after acquiring an additional 512,883 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen beat estimates with third-quarter revenue of $10.37 billion, up 8.5% year over year, and earnings per share of $6.45. It also raised its 2026 revenue and earnings guidance, helping support investor optimism. Read More.
• Positive Sentiment: Growth in products including Repatha and cancer drug IMDELLTRA is helping offset weakness elsewhere. Progress across the pipeline, alongside potential longer-term upside from obesity candidate MariTide, adds to the growth case. Read More.
• Neutral Sentiment: Analyst target increases were mixed in their implications: Goldman Sachs raised its target to $536 and kept a Buy rating, while several other firms maintained neutral or hold ratings and set targets below the recent share price. Read More.
• Negative Sentiment: Competition from biosimilars is weighing on Prolia and Xgeva sales, tempering the earnings beat and raising concerns about the impact on established products. Amgen also received an FDA warning letter concerning Vectibix promotion. Read More. · Read More.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.