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

Amgen (NASDAQ:AMGN) had its price target hoisted by research analysts at UBS Group from $430.00 to $470.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. UBS Group’s price target would suggest a potential upside of 14.36% from the company’s current price.

A number of other analysts have also weighed in on AMGN. Wells Fargo & Company upped their price objective on Amgen from $400.00 to $435.00 and gave the stock an “equal weight” rating in a research report on Friday, September 4th. Oppenheimer reissued an “outperform” rating on shares of Amgen in a research note on Wednesday, September 23rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $410.00 price target on shares of Amgen in a research report on Wednesday, September 23rd. Barclays lifted their price objective on Amgen from $360.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Finally, Argus upped their target price on shares of Amgen from $375.00 to $460.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $389.71.

Amgen Trading Up 0.9%

Shares of AMGN stock traded up $3.54 during trading hours on Friday, hitting $410.99. The company had a trading volume of 405,155 shares, compared to its average volume of 2,744,292. The stock has a market capitalization of $222.19 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 2.98 and a beta of 0.41. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. Amgen has a fifty-two week low of $288.00 and a fifty-two week high of $447.03. The company’s fifty day moving average is $412.35 and its 200 day moving average is $371.88.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.62 by $0.67. The firm had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.Amgen’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Research analysts expect that Amgen will post 22.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amgen news, SVP Nancy Grygiel sold 2,970 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the transaction, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Rachna Khosla sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction 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 represents a 23.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 6,222 shares of company stock valued at $2,540,926. Company insiders own 0.85% of the company’s stock.

Institutional Trading of Amgen

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in shares of Amgen by 4.8% in the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after purchasing an additional 2,261,544 shares in the last quarter. State Street Corp boosted its stake in Amgen by 38.2% during the 2nd quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock valued at $15,283,363,000 after acquiring an additional 11,656,755 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Amgen by 12.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company’s stock worth $1,952,156,000 after purchasing an additional 605,928 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Amgen in the 2nd quarter valued at about $1,831,903,000. Finally, Invesco Ltd. lifted its position in shares of Amgen by 7.2% during the fourth quarter. Invesco Ltd. now owns 4,788,460 shares of the medical research company’s stock worth $1,567,311,000 after purchasing an additional 321,173 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen’s portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.