Amgen (NASDAQ:AMGN) Price Target Increased to $307.00 by Analysts at UBS Group

Amgen (NASDAQ:AMGN) had its target price increased by UBS Group from $284.00 to $307.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the medical research company’s stock.

Several other research firms also recently issued reports on AMGN. Truist Financial reiterated a buy rating and set a $320.00 price objective on shares of Amgen in a research note on Friday, April 12th. SVB Leerink cut Amgen from an outperform rating to a market perform rating and cut their target price for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. StockNews.com cut shares of Amgen from a buy rating to a hold rating in a report on Thursday, March 28th. BMO Capital Markets boosted their price target on shares of Amgen from $336.00 to $355.00 and gave the company an outperform rating in a report on Friday. Finally, Royal Bank of Canada lowered their target price on Amgen from $332.00 to $328.00 and set an outperform rating on the stock in a research note on Friday. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $305.05.

Amgen Stock Up 11.8 %

Shares of NASDAQ AMGN opened at $311.29 on Friday. The business has a 50-day moving average price of $274.95 and a 200 day moving average price of $281.46. Amgen has a 52-week low of $211.71 and a 52-week high of $329.72. The stock has a market cap of $166.97 billion, a PE ratio of 44.47, a price-to-earnings-growth ratio of 3.01 and a beta of 0.60. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 145.62% and a net margin of 12.74%. Amgen’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.98 earnings per share. Equities research analysts forecast that Amgen will post 19.46 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.89%. Amgen’s dividend payout ratio (DPR) is 128.57%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Amgen

Several hedge funds and other institutional investors have recently made changes to their positions in the business. J.W. Cole Advisors Inc. boosted its holdings in Amgen by 11.7% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 2,785 shares of the medical research company’s stock worth $748,000 after buying an additional 292 shares during the period. Brown Advisory Inc. boosted its holdings in Amgen by 1.5% during the 3rd quarter. Brown Advisory Inc. now owns 344,853 shares of the medical research company’s stock valued at $92,683,000 after acquiring an additional 5,253 shares during the period. Rovin Capital UT ADV purchased a new position in shares of Amgen during the third quarter worth approximately $360,000. Summit Wealth & Retirement Planning Inc. purchased a new stake in Amgen in the third quarter worth about $208,000. Finally, Groesbeck Investment Management Corp NJ raised its position in shares of Amgen by 6.8% in the 3rd quarter. Groesbeck Investment Management Corp NJ now owns 3,588 shares of the medical research company’s stock worth $964,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

About Amgen

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.