Amgen (NASDAQ:AMGN) Price Target Raised to $470.00

by · The Cerbat Gem

Amgen (NASDAQ:AMGN – Free Report) had its price objective increased by UBS Group from $430.00 to $470.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

A number of other research firms also recently issued reports on AMGN. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Sanford C. Bernstein boosted their price objective on Amgen from $335.00 to $345.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. HSBC downgraded Amgen from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $445.00 to $425.00 in a research note on Thursday, September 10th. Truist Financial raised their target price on Amgen from $362.00 to $380.00 and gave the company a “hold” rating in a report on Wednesday, October 7th. Finally, Canaccord Genuity Group raised their target price on Amgen from $366.00 to $384.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $389.71.

Read Our Latest Stock Report on AMGN

Amgen Price Performance

Amgen stock opened at $414.87 on Friday. Amgen has a 1-year low of $288.00 and a 1-year high of $447.03. The firm has a market capitalization of $224.29 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. The firm’s fifty day moving average price is $412.94 and its two-hundred day moving average price is $372.34. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44.

Amgen (NASDAQ:AMGN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm had revenue of $10.05 billion during the quarter, compared to analysts’ expectations of $9.43 billion. During the same period last year, the company earned $6.02 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities research analysts predict that Amgen will post 22.94 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were issued a $2.52 dividend. The ex-dividend date was Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.4%. Amgen’s dividend payout ratio is currently 62.65%.

Insider Activity

In related news, SVP Nancy Grygiel sold 2,970 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the transaction, the senior vice president directly owned 7,340 shares of the company’s stock, valued at $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rachna Khosla sold 1,252 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the transaction, the senior vice president directly owned 6,404 shares in the company, valued at $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Altus USA Inc. grew its position in shares of Amgen by 72.3% in the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company’s stock worth $28,000 after buying an additional 34 shares during the last quarter. Tower View Wealth Management LLC raised its holdings in shares of Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 63 shares in the last quarter. Security National Bank of Sioux City Iowa IA bought a new position in shares of Amgen during the second quarter valued at approximately $36,000. Steph & Co. bought a new position in shares of Amgen during the third quarter valued at approximately $42,000. Finally, Evergreen Advisors LLC purchased a new stake in Amgen in the first quarter worth $37,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Key Amgen News

Here are the key news stories impacting Amgen this week:

  • Positive Sentiment: UBS upgraded Amgen to Buy and raised its price target to $470 from $430, implying further upside from the reported $414.87 share price. The upgrade is the clearest near-term catalyst behind the stock’s strength. Benzinga analyst upgrade report
  • Positive Sentiment: Amgen announced a head-to-head Phase 3 trial for its monthly diabetes drug candidate against semaglutide. Success could strengthen the company’s position in the highly competitive GLP-1 market and provide a significant future growth opportunity, although clinical and commercial risks remain. Amgen monthly diabetes trial article
  • Positive Sentiment: Cantor Fitzgerald raised its Amgen price target to $440 from $400, signaling improved expectations despite maintaining a Hold rating. Cantor Fitzgerald price target report

About Amgen

(Get Free Report)

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen’s portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.

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