Amgen (NASDAQ:AMGN) Sets New 52-Week High – Here’s What Happened

Amgen Inc. (NASDAQ:AMGN)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $395.15 and last traded at $393.7690, with a volume of 360618 shares traded. The stock had previously closed at $376.26.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Piper Sandler reissued an “overweight” rating on shares of Amgen in a research note on Friday, June 12th. Wall Street Zen lowered shares of Amgen from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. UBS Group boosted their price target on Amgen from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Argus reduced their price objective on Amgen from $400.00 to $375.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $350.00 price objective on shares of Amgen in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $356.62.

Amgen Trading Up 4.6%

The company has a market cap of $212.48 billion, a P/E ratio of 27.35, a P/E/G ratio of 3.80 and a beta of 0.41. The stock’s 50-day moving average is $352.31 and its two-hundred day moving average is $352.35. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.38. The company had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities research analysts predict that Amgen Inc. will post 22.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the transaction, the senior vice president owned 7,009 shares of the company’s stock, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Amgen

Several institutional investors have recently made changes to their positions in the business. Anfield Capital Management LLC raised its position in Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after acquiring an additional 70 shares during the period. Dogwood Wealth Management LLC grew its holdings in Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 55 shares during the period. Tower View Wealth Management LLC increased its position in Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after buying an additional 63 shares in the last quarter. Manning & Napier Advisors LLC raised its stake in shares of Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after buying an additional 32 shares during the period. Finally, Ares Financial Consulting LLC purchased a new position in shares of Amgen during the 4th quarter valued at about $34,000. Institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

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.