Amgen (NASDAQ:AMGN) PT Raised to $350.00

Amgen (NASDAQ:AMGNGet Free Report) had its price target raised by research analysts at The Goldman Sachs Group from $313.00 to $350.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 18.70% from the stock’s current price.

AMGN has been the topic of several other research reports. Truist Financial restated a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Wednesday, November 29th. Royal Bank of Canada raised Amgen from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $256.00 to $300.00 in a research report on Tuesday, December 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Amgen in a research report on Thursday, November 9th. They set a “hold” rating and a $240.00 price objective for the company. Argus upped their price objective on Amgen from $280.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Amgen in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $295.30.

Read Our Latest Stock Analysis on Amgen

Amgen Price Performance

AMGN stock opened at $294.85 on Wednesday. The business’s fifty day moving average price is $294.92 and its 200 day moving average price is $273.81. The company has a current ratio of 2.86, a quick ratio of 2.56 and a debt-to-equity ratio of 7.71. Amgen has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a market capitalization of $157.80 billion, a PE ratio of 23.61, a P/E/G ratio of 2.84 and a beta of 0.62.

Amgen (NASDAQ:AMGNGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 152.15% and a net margin of 23.83%. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the prior year, the business earned $4.09 EPS. Amgen’s revenue was up 19.8% on a year-over-year basis. On average, sell-side analysts anticipate that Amgen will post 19.81 EPS for the current year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,096 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $273.03, for a total transaction of $572,270.88. Following the completion of the sale, the senior vice president now directly owns 10,874 shares of the company’s stock, valued at approximately $2,968,928.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Amgen

Large investors have recently modified their holdings of the business. Claro Advisors LLC raised its stake in shares of Amgen by 6.9% during the 2nd quarter. Claro Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $415,000 after buying an additional 120 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Amgen by 3.8% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,012 shares of the medical research company’s stock valued at $2,445,000 after purchasing an additional 402 shares in the last quarter. Reuter James Wealth Management LLC increased its stake in Amgen by 48.0% in the 2nd quarter. Reuter James Wealth Management LLC now owns 4,363 shares of the medical research company’s stock valued at $969,000 after purchasing an additional 1,416 shares in the last quarter. Nicolet Advisory Services LLC increased its stake in Amgen by 4.4% in the 3rd quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock valued at $745,000 after purchasing an additional 117 shares in the last quarter. Finally, Fortune Financial Advisors LLC purchased a new position in Amgen in the 2nd quarter valued at approximately $230,000. 74.44% of the stock is owned by hedge funds and other institutional investors.

About Amgen

(Get Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Beh├žet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

Further Reading

Analyst Recommendations for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.