Amgen (NASDAQ:AMGN) Upgraded by Wall Street Zen to Buy Rating

Amgen (NASDAQ:AMGN) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other brokerages also recently commented on AMGN. Piper Sandler reissued an “overweight” rating on shares of Amgen in a research report on Wednesday. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Citigroup raised their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Cantor Fitzgerald increased their price target on shares of Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Bank of America increased their target price on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $308.83.

Amgen Stock Up 1.5%

Shares of Amgen stock opened at $320.20 on Friday. The firm has a market cap of $172.38 billion, a PE ratio of 26.18, a P/E/G ratio of 2.61 and a beta of 0.45. Amgen has a 52-week low of $253.30 and a 52-week high of $335.88. The business’s 50 day simple moving average is $289.94 and its 200 day simple moving average is $288.50. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, analysts predict that Amgen will post 20.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated Wednesday, August 20th. The stock was 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 in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amgen

Hedge funds have recently made changes to their positions in the stock. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen during the first quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC increased its position in 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 acquiring an additional 85 shares during the period. Evelyn Partners Investment Management LLP bought a new position in shares of Amgen during the second quarter valued at $32,000. Finally, Howard Hughes Medical Institute bought a new position in shares of Amgen during the second quarter valued at $32,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

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.