Scotiabank Issues Positive Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its target price upped by equities research analysts at Scotiabank from $500.00 to $530.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the medical research company’s stock. Scotiabank‘s target price points to a potential upside of 10.77% from the stock’s current price.

A number of other research analysts have also recently weighed in on AMGN. Cantor Fitzgerald lifted their price objective on shares of Amgen from $440.00 to $465.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank Of Canada increased their target price on shares of Amgen from $430.00 to $470.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays raised their price target on shares of Amgen from $380.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 21st. Sanford C. Bernstein reiterated a “market perform” rating and issued a $400.00 price objective on shares of Amgen in a research note on Wednesday. Finally, BMO Capital Markets decreased their target price on Amgen from $450.00 to $415.00 and set a “market perform” rating for the company in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $411.31.

Amgen Trading Up 3.7%

AMGN traded up $17.22 during mid-day trading on Wednesday, hitting $478.48. 4,594,541 shares of the stock were exchanged, compared to its average volume of 2,757,751. The firm’s fifty day moving average is $420.83 and its two-hundred day moving average is $376.16. Amgen has a 1-year low of $302.13 and a 1-year high of $482.48. The company has a market cap of $258.68 billion, a PE ratio of 29.74, a PEG ratio of 3.41 and a beta of 0.43. 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) last released its earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share for the quarter, beating the consensus estimate of $5.79 by $0.66. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.07 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%. Amgen’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $5.64 EPS. Equities analysts forecast that Amgen will post 22.96 earnings per share for the current fiscal year.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 2,000 shares of the firm’s stock in a transaction 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 sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,642,098.28. This trade represents a 23.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nancy Grygiel sold 2,970 shares of Amgen stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,222 shares of company stock valued at $2,540,926 in the last quarter. 0.85% of the stock is currently owned by company insiders.

Institutional Trading of Amgen

A number of hedge funds and other institutional investors have recently bought and sold shares of AMGN. Quest 10 Wealth Builders Inc. lifted its position in Amgen by 220.0% during the third quarter. Quest 10 Wealth Builders Inc. now owns 80 shares of the medical research company’s stock valued at $34,000 after buying an additional 55 shares in the last quarter. Wellington Altus USA Inc. grew its stake in Amgen by 72.3% during the second 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 period. Nvwm LLC increased its position in shares of Amgen by 412.5% in the third quarter. Nvwm LLC now owns 82 shares of the medical research company’s stock worth $35,000 after acquiring an additional 66 shares in the last quarter. PFS Partners LLC increased its position in shares of Amgen by 95.5% in the third quarter. PFS Partners LLC now owns 86 shares of the medical research company’s stock worth $36,000 after acquiring an additional 42 shares in the last quarter. Finally, TOWER TRUST & INVESTMENT Co acquired a new stake in shares of Amgen in the third quarter worth $38,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen beat estimates with third-quarter revenue of $10.37 billion, up 8.5% year over year, and earnings per share of $6.45. It also raised its 2026 revenue and earnings guidance, helping support investor optimism. Read More.
• Positive Sentiment: Growth in products including Repatha and cancer drug IMDELLTRA is helping offset weakness elsewhere. Progress across the pipeline, alongside potential longer-term upside from obesity candidate MariTide, adds to the growth case. Read More.
• Neutral Sentiment: Analyst target increases were mixed in their implications: Goldman Sachs raised its target to $536 and kept a Buy rating, while several other firms maintained neutral or hold ratings and set targets below the recent share price. Read More.
• Negative Sentiment: Competition from biosimilars is weighing on Prolia and Xgeva sales, tempering the earnings beat and raising concerns about the impact on established products. Amgen also received an FDA warning letter concerning Vectibix promotion. Read More. · Read More.

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.