Amgen (NASDAQ:AMGN) Given New $381.00 Price Target at Piper Sandler

Amgen (NASDAQ:AMGN) had its target price upped by stock analysts at Piper Sandler from $342.00 to $381.00 in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. Piper Sandler’s target price indicates a potential upside of 13.06% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company boosted their target price on Amgen from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Morgan Stanley reduced their price objective on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Cantor Fitzgerald raised their price target on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. DZ Bank lifted their target price on shares of Amgen from $335.00 to $364.00 in a report on Monday. Finally, Bank of America increased their price objective on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $314.05.

Amgen Stock Performance

Amgen stock traded up $0.99 during trading on Friday, hitting $336.99. The stock had a trading volume of 1,735,973 shares, compared to its average volume of 2,737,886. The stock’s 50 day moving average is $293.85 and its two-hundred day moving average is $290.01. Amgen has a 1 year low of $253.30 and a 1 year high of $345.84. The stock has a market cap of $181.46 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same period last year, the business earned $5.58 earnings per share. Amgen’s revenue was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, analysts predict that Amgen will post 20.62 EPS for the current year.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the transaction, the senior vice president directly owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. This trade represents a 11.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the sale, the executive vice president directly owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. This trade represents a 14.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,036 shares of company stock worth $2,992,594 over the last 90 days. Insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. OLD National Bancorp IN increased its stake in shares of Amgen by 296.2% during the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after buying an additional 13,460 shares during the period. Atlantic Union Bankshares Corp raised its position in shares of Amgen by 165.0% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock valued at $2,972,000 after purchasing an additional 6,627 shares during the period. Trinity Legacy Partners LLC raised its position in shares of Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after buying an additional 612 shares in the last quarter. Founders Financial Alliance LLC grew its position in Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock worth $491,000 after acquiring an additional 42 shares in the last quarter. Finally, Stephens Inc. AR raised its position in Amgen by 14.2% during the second quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after purchasing an additional 11,888 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.