Amgen (NASDAQ:AMGN) Price Target Raised to $343.00

Amgen (NASDAQ:AMGN) had its price objective increased by stock analysts at Guggenheim from $340.00 to $343.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Guggenheim’s price objective suggests a potential downside of 5.61% from the stock’s current price.

A number of other research firms have also issued reports on AMGN. Piper Sandler restated an “overweight” rating on shares of Amgen in a research report on Friday, June 12th. Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Amgen in a research note on Thursday, June 18th. The Goldman Sachs Group set a $389.00 price target on shares of Amgen in a report on Friday, June 5th. Finally, UBS Group upped their price target on shares of Amgen from $390.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $355.85.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $363.39 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The firm’s 50-day moving average price is $344.81 and its two-hundred day moving average price is $349.45. Amgen has a 52-week low of $269.77 and a 52-week high of $391.29. The stock has a market capitalization of $196.13 billion, a P/E ratio of 25.29, a P/E/G ratio of 3.59 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $4.77 by $0.38. The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.Amgen’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, sell-side analysts forecast that Amgen will post 22.32 earnings per share for the current year.

Insider Buying and Selling at Amgen

In related 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 value of $400,454.01. Following the completion of the sale, the senior vice president owned 7,009 shares of the company’s stock, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amgen

Several large investors have recently bought and sold shares of AMGN. Robeco Institutional Asset Management B.V. lifted its position in shares of Amgen by 10.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company’s stock valued at $157,584,000 after acquiring an additional 43,884 shares during the last quarter. Curtis Advisory Group LLC acquired a new position in shares of Amgen in the 4th quarter worth $1,669,000. Adell Harriman & Carpenter Inc. grew its holdings in shares of Amgen by 7.9% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company’s stock worth $7,204,000 after acquiring an additional 1,609 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Amgen during the fourth quarter valued at $22,441,000. Finally, Robinhood Asset Management LLC purchased a new stake in shares of Amgen during the fourth quarter valued at $17,526,000. Institutional investors and hedge funds 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.