Amgen (NASDAQ:AMGN) Price Target Raised to $380.00

by · The Cerbat Gem

Amgen (NASDAQ:AMGN – Free Report) had its price objective raised by Truist Financial from $362.00 to $380.00 in a research report report published on Wednesday morning, Marketbeat.com reports. The brokerage currently has a hold rating on the medical research company’s stock.

A number of other brokerages have also recently commented on AMGN. TD Cowen increased their target price on shares of Amgen from $420.00 to $452.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald boosted their price target on shares of Amgen from $400.00 to $440.00 and gave the stock a “neutral” rating in a research report on Monday. Canaccord Genuity Group upped their price objective on shares of Amgen from $366.00 to $384.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Citigroup increased their price objective on shares of Amgen from $345.00 to $405.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Finally, Weiss Ratings raised shares of Amgen from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Hold” and an average target price of $389.71.

View Our Latest Research Report on Amgen

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $414.87 on Wednesday. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. 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 PE ratio of 25.78, a P/E/G ratio of 2.94 and a beta of 0.41. The business’s 50 day moving average price is $412.94 and its 200-day moving average price is $372.18.

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

Amgen Dividend Announcement

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

Insider Activity

In other news, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction that occurred on 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 sale, the senior vice president owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rachna Khosla sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the transaction, the senior vice president owned 6,404 shares in the company, valued at $2,642,098.28. This represents a 23.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 over the last quarter. 0.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amgen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marquette Asset Management LLC lifted its holdings in shares of Amgen by 78.4% in the 3rd quarter. Marquette Asset Management LLC now owns 330 shares of the medical research company’s stock worth $139,000 after acquiring an additional 145 shares during the last quarter. Friday Financial acquired a new stake in Amgen in the 3rd quarter valued at approximately $208,000. Castleview Partners LLC increased its holdings in Amgen by 5.8% in the 3rd quarter. Castleview Partners LLC now owns 11,160 shares of the medical research company’s stock valued at $4,704,000 after purchasing an additional 608 shares during the last quarter. Stokes Capital Advisors LLC raised its position in Amgen by 187.8% in the third quarter. Stokes Capital Advisors LLC now owns 8,811 shares of the medical research company’s stock valued at $3,714,000 after purchasing an additional 5,750 shares during the period. Finally, Mirador Capital Partners LP raised its position in Amgen by 16.5% in the third quarter. Mirador Capital Partners LP now owns 1,642 shares of the medical research company’s stock valued at $692,000 after purchasing an additional 232 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

More 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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