FY2027 Earnings Forecast for Amgen Issued By Leerink Partnrs

Amgen Inc. (NASDAQ:AMGN) – Investment analysts at Leerink Partnrs lifted their FY2027 earnings estimates for shares of Amgen in a report issued on Tuesday, June 10th. Leerink Partnrs analyst D. Risinger now expects that the medical research company will post earnings per share of $20.08 for the year, up from their prior forecast of $19.97. The consensus estimate for Amgen’s current full-year earnings is $20.62 per share. Leerink Partnrs also issued estimates for Amgen’s FY2028 earnings at $19.65 EPS and FY2029 earnings at $21.37 EPS.

Other equities research analysts have also issued research reports about the stock. Guggenheim started coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price objective for the company. Piper Sandler reduced their target price on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Cantor Fitzgerald started coverage on shares of Amgen in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target for the company. UBS Group restated a “neutral” rating and set a $315.00 price target (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Finally, Royal Bank of Canada decreased their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $309.22.

Amgen Stock Up 1.9%

Shares of AMGN opened at $297.29 on Thursday. Amgen has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock has a fifty day simple moving average of $281.03 and a two-hundred day simple moving average of $285.48. The company has a market capitalization of $159.85 billion, a PE ratio of 39.38, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period in the prior year, the business earned $3.96 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Amgen

Hedge funds have recently added to or reduced their stakes in the business. Centricity Wealth Management LLC acquired a new stake in shares of Amgen in the fourth quarter valued at $25,000. Wealth Preservation Advisors LLC purchased a new stake in Amgen during the 1st quarter worth about $25,000. Pinney & Scofield Inc. acquired a new stake in Amgen in the 4th quarter valued at about $26,000. First Pacific Financial boosted its stake in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after buying an additional 67 shares during the period. Finally, CBIZ Investment Advisory Services LLC boosted its stake in shares of Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after buying an additional 85 shares during the period. 76.50% of the stock is currently 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.