Daiwa Capital Markets Issues Positive Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price target lifted by Daiwa Capital Markets from $310.00 to $370.00 in a research note issued to investors on Tuesday,MarketScreener reports. They currently have an outperform rating on the medical research company’s stock.

A number of other brokerages have also issued reports on AMGN. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Bank of America upped their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. DZ Bank increased their target price on shares of Amgen from $335.00 to $364.00 in a report on Monday, November 10th. Wells Fargo & Company raised their price target on shares of Amgen from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Raymond James Financial started coverage on Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $316.85.

Amgen Trading Up 0.7%

AMGN opened at $343.99 on Tuesday. Amgen has a 52 week low of $253.30 and a 52 week high of $345.84. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The business has a fifty day simple moving average of $297.43 and a 200-day simple moving average of $291.24. The firm has a market cap of $185.23 billion, a P/E ratio of 28.13, a P/E/G ratio of 2.61 and a beta of 0.45.

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

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, November 21st. This represents a $9.52 annualized dividend and a yield of 2.8%. Amgen’s payout ratio is presently 73.57%.

Insider Buying and Selling

In other news, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares in the company, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Rachna Khosla sold 890 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the transaction, the senior vice president directly owned 7,082 shares in the company, valued at $2,381,251.68. This trade represents a 11.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Amgen

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. West Family Investments Inc. raised its stake in shares of Amgen by 1.1% in the third quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company’s stock valued at $779,000 after buying an additional 30 shares during the period. Viawealth LLC raised its stake in Amgen by 0.4% in the 3rd quarter. Viawealth LLC now owns 7,168 shares of the medical research company’s stock valued at $2,023,000 after acquiring an additional 30 shares during the period. LOM Asset Management Ltd lifted its holdings in Amgen by 1.2% during the third quarter. LOM Asset Management Ltd now owns 2,554 shares of the medical research company’s stock valued at $721,000 after purchasing an additional 30 shares during the last quarter. Sittner & Nelson LLC boosted its position in Amgen by 0.4% during the third quarter. Sittner & Nelson LLC now owns 7,276 shares of the medical research company’s stock worth $2,053,000 after purchasing an additional 30 shares during the period. Finally, TAGStone Capital Inc. boosted its position in Amgen by 0.8% during the third quarter. TAGStone Capital Inc. now owns 4,101 shares of the medical research company’s stock worth $1,157,000 after purchasing an additional 32 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

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.