Amgen (NASDAQ:AMGN) Given New $370.00 Price Target at Daiwa Capital Markets

by · The Cerbat Gem

Amgen (NASDAQ:AMGN – Get Free Report) had its price target lifted by Daiwa Capital Markets from $310.00 to $370.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Daiwa Capital Markets’ price objective suggests a potential upside of 8.28% from the stock’s previous close.

AMGN has been the subject of several other reports. UBS Group decreased their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Bank of America raised their target price on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Morgan Stanley lowered their price target on Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. The Goldman Sachs Group cut their price target on shares of Amgen from $405.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $316.85.

View Our Latest Analysis on Amgen

Amgen Stock Up 1.5%

Amgen stock opened at $341.71 on Tuesday. The firm has a market capitalization of $184.00 billion, a P/E ratio of 27.94, a P/E/G ratio of 2.61 and a beta of 0.45. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen has a twelve month low of $253.30 and a twelve month high of $345.84. The stock’s fifty day simple moving average is $296.14 and its 200-day simple moving average is $290.80.

Amgen (NASDAQ:AMGN – Get Free Report) last released its earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $8.98 billion. During the same period in the previous year, the firm posted $5.58 EPS. Amgen’s revenue for the quarter was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities analysts expect that Amgen will post 20.62 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the sale, the executive vice president owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,036 shares of company stock valued at $2,992,594 in the last ninety days. Company insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Amgen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMGN. Brighton Jones LLC boosted its holdings in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Abel Hall LLC acquired a new stake in shares of Amgen during the first quarter worth approximately $232,000. IFP Advisors Inc increased its stake in shares of Amgen by 13.3% in the first quarter. IFP Advisors Inc now owns 6,911 shares of the medical research company’s stock worth $2,153,000 after buying an additional 809 shares during the last quarter. GW&K Investment Management LLC raised its holdings in Amgen by 0.8% in the first quarter. GW&K Investment Management LLC now owns 103,156 shares of the medical research company’s stock valued at $32,138,000 after acquiring an additional 838 shares in the last quarter. Finally, Crestwood Advisors Group LLC raised its holdings in shares of Amgen by 2.7% during the first quarter. Crestwood Advisors Group LLC now owns 10,773 shares of the medical research company’s stock worth $3,356,000 after purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

(Get Free Report)

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.

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