Amgen (NASDAQ:AMGN) Price Target Raised to $390.00 at Wells Fargo & Company

Amgen (NASDAQ:AMGN) had its price target lifted by Wells Fargo & Company from $375.00 to $390.00 in a research report report published on Thursday,MarketScreener reports. The firm currently has an equal weight rating on the medical research company’s stock.

A number of other research firms also recently issued reports on AMGN. Guggenheim boosted their target price on shares of Amgen from $305.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Leerink Partners restated a “market perform” rating and issued a $355.00 price target on shares of Amgen in a report on Thursday, March 5th. Mizuho lifted their price target on shares of Amgen from $280.00 to $295.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. Cantor Fitzgerald upped their price objective on shares of Amgen from $315.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Finally, HSBC reissued a “buy” rating and set a $425.00 price objective on shares of Amgen in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $354.60.

Amgen Trading Down 0.4%

NASDAQ AMGN opened at $349.92 on Thursday. The stock has a market capitalization of $188.63 billion, a P/E ratio of 24.59, a P/E/G ratio of 3.49 and a beta of 0.45. The business has a 50 day simple moving average of $359.86 and a 200 day simple moving average of $327.10. The company has a debt-to-equity ratio of 5.78, a current ratio of 1.14 and a quick ratio of 0.90. Amgen has a one year low of $261.43 and a one year high of $391.29.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.76 by $0.53. The firm had revenue of $9.87 billion for the quarter, compared to analyst estimates of $9.46 billion. Amgen had a return on equity of 148.37% and a net margin of 20.98%.The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.31 earnings per share. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. Research analysts expect that Amgen will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be issued a dividend of $2.52 per share. The ex-dividend date is Friday, May 15th. This represents a $10.08 annualized dividend and a yield of 2.9%. Amgen’s payout ratio is 70.84%.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Vanguard Group Inc. boosted its stake in shares of Amgen by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock worth $17,949,296,000 after buying an additional 961,975 shares during the last quarter. State Street Corp grew its holdings in shares of Amgen by 4.4% in the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock valued at $10,012,872,000 after acquiring an additional 1,287,310 shares in the last quarter. Capital World Investors increased its position in shares of Amgen by 22.9% during the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after acquiring an additional 4,302,237 shares during the last quarter. Capital International Investors increased its position in shares of Amgen by 1.5% during the third quarter. Capital International Investors now owns 19,192,995 shares of the medical research company’s stock valued at $5,414,296,000 after acquiring an additional 282,219 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Amgen by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock worth $4,665,822,000 after acquiring an additional 1,035,779 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.