Amgen Inc. (NASDAQ:AMGN) Receives Average Recommendation of “Hold” from Analysts

Shares of Amgen Inc. (NASDAQ:AMGN) have earned a consensus recommendation of “Hold” from the eighteen brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $300.9412.

Several research firms have weighed in on AMGN. Bank of America raised their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Raymond James Financial began coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Piper Sandler raised their target price on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. Finally, Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. OLD National Bancorp IN raised its holdings in shares of Amgen by 296.2% in the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after purchasing an additional 13,460 shares during the last quarter. Trinity Legacy Partners LLC raised its holdings in shares of Amgen by 3.9% in the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after purchasing an additional 612 shares during the last quarter. Founders Financial Alliance LLC raised its holdings in shares of Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after purchasing an additional 42 shares during the last quarter. Stephens Inc. AR raised its holdings in shares of Amgen by 14.2% in the second quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after purchasing an additional 11,888 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Amgen by 2.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,397 shares of the medical research company’s stock valued at $86,423,000 after purchasing an additional 7,308 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 2.2%

AMGN opened at $298.43 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock has a market capitalization of $160.66 billion, a PE ratio of 24.40, a PEG ratio of 2.61 and a beta of 0.49. Amgen has a 1-year low of $253.30 and a 1-year high of $335.88. The firm has a 50-day moving average price of $287.75 and a two-hundred day moving average price of $287.46.

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

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.