Amgen (NASDAQ:AMGN) Price Target Raised to $319.00 at Truist Financial

Amgen (NASDAQ:AMGN) had its price objective hoisted by research analysts at Truist Financial from $318.00 to $319.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the medical research company’s stock. Truist Financial’s price objective indicates a potential downside of 4.85% from the stock’s current price.

Several other brokerages also recently commented on AMGN. Bank of America raised their price objective on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Weiss Ratings restated a “buy (b)” rating on shares of Amgen in a report on Monday, December 29th. Citigroup lifted their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Daiwa Capital Markets boosted their price objective on Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. Finally, Guggenheim raised their target price on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $338.55.

Amgen Trading Down 1.9%

AMGN stock traded down $6.38 during midday trading on Thursday, reaching $335.26. The company’s stock had a trading volume of 697,703 shares, compared to its average volume of 2,158,128. The business’s 50-day simple moving average is $328.43 and its 200-day simple moving average is $303.75. The stock has a market cap of $180.53 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 3.01 and a beta of 0.45. Amgen has a 52 week low of $260.55 and a 52 week high of $346.38. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.01 by $0.63. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The firm’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the company earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, sell-side analysts expect that Amgen will post 20.62 EPS for the current year.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 890 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the transaction, the senior vice president directly owned 7,082 shares in the company, valued at $2,381,251.68. The trade was a 11.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the sale, the executive vice president owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,908 shares of company stock worth $3,674,966 in the last ninety days. Insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Amgen by 0.3% in the third quarter. Vanguard Group Inc. now owns 53,876,851 shares of the medical research company’s stock valued at $15,204,047,000 after buying an additional 165,281 shares in the last quarter. State Street Corp increased its stake in Amgen by 0.6% during the 2nd quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock worth $8,196,775,000 after acquiring an additional 177,035 shares during the period. Capital International Investors increased its stake in Amgen by 1.5% during the 3rd quarter. Capital International Investors now owns 19,192,995 shares of the medical research company’s stock worth $5,414,296,000 after acquiring an additional 282,219 shares during the period. Capital World Investors raised its holdings in Amgen by 11.5% in the 3rd quarter. Capital World Investors now owns 18,795,474 shares of the medical research company’s stock valued at $5,303,578,000 after acquiring an additional 1,935,876 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Amgen by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock valued at $3,619,489,000 after acquiring an additional 291,271 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

About Amgen

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.