Daiwa Securities Group Has Lowered Expectations for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price target lowered by investment analysts at Daiwa Securities Group from $410.00 to $390.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Daiwa Securities Group’s target price suggests a potential upside of 17.62% from the company’s current price.

A number of other equities research analysts have also recently issued reports on AMGN. Argus increased their target price on shares of Amgen from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Rothschild & Co Redburn upped their price objective on shares of Amgen from $180.00 to $200.00 and gave the stock a “sell” rating in a research note on Wednesday, February 18th. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Mizuho boosted their target price on Amgen from $280.00 to $295.00 and gave the stock an “outperform” rating in a report on Tuesday, February 10th. Finally, Citigroup increased their price target on Amgen from $315.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $356.35.

Amgen Price Performance

AMGN stock traded down $4.72 during trading on Wednesday, hitting $331.57. The company had a trading volume of 320,247 shares, compared to its average volume of 2,731,923. The company has a fifty day moving average price of $352.03 and a two-hundred day moving average price of $342.49. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The company has a market cap of $178.94 billion, a P/E ratio of 23.07, a P/E/G ratio of 3.31 and a beta of 0.44. Amgen has a fifty-two week low of $261.43 and a fifty-two week high of $391.29.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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 firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities research analysts expect that Amgen will post 22.36 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 company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $323.73, for a total transaction of $400,454.01. Following the transaction, the senior vice president directly owned 7,009 shares in the company, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Amgen

Several institutional investors have recently modified their holdings of AMGN. Dogwood Wealth Management LLC raised its position in shares of Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 55 shares during the last quarter. Anfield Capital Management LLC grew its stake in shares of Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after purchasing an additional 70 shares during the period. Board of the Pension Protection Fund bought a new stake in Amgen in the fourth quarter valued at about $26,000. Tower View Wealth Management LLC increased its holdings 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 valued at $29,000 after purchasing an additional 63 shares during the last quarter. Finally, Manning & Napier Advisors LLC lifted its stake in Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

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.