Amgen (NASDAQ:AMGN) Price Target Raised to $303.00 at Mizuho

Amgen (NASDAQ:AMGN) had its price target hoisted by investment analysts at Mizuho from $295.00 to $303.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Mizuho’s price target would suggest a potential downside of 13.56% from the stock’s previous close.

A number of other research analysts have also commented on the company. Rothschild & Co Redburn increased their price objective on Amgen from $180.00 to $200.00 and gave the company a “sell” rating in a report on Wednesday, February 18th. UBS Group increased their target price on shares of Amgen from $390.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Wells Fargo & Company raised their target price on Amgen from $375.00 to $390.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 19th. Canaccord Genuity Group began coverage on shares of Amgen in a research report on Monday, April 20th. They set a “hold” rating and a $366.00 target price on the stock. Finally, Truist Financial lifted their target price on shares of Amgen from $325.00 to $327.00 and gave the company a “hold” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $354.42.

Amgen Price Performance

AMGN opened at $350.53 on Tuesday. The stock has a market cap of $189.18 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 3.56 and a beta of 0.42. Amgen has a 1 year low of $267.83 and a 1 year high of $391.29. 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 stock has a fifty day moving average price of $341.03 and a 200 day moving average price of $345.86.

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, beating analysts’ consensus estimates of $4.77 by $0.38. The firm had revenue of $8.62 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Analysts forecast that Amgen will post 22.38 EPS for the current fiscal year.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $323.73, for a total transaction of $400,454.01. Following the completion of the transaction, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dogwood Wealth Management LLC boosted its holdings in shares of Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after buying an additional 55 shares during the period. Anfield Capital Management LLC boosted its holdings in shares of Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after buying an additional 70 shares during the period. Board of the Pension Protection Fund acquired a new position in Amgen during the fourth quarter worth $26,000. Tower View Wealth Management LLC boosted its holdings in Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after purchasing an additional 63 shares during the last quarter. Finally, Manning & Napier Advisors LLC boosted its holdings in Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after purchasing an additional 32 shares during the last quarter. 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.