Amgen (NASDAQ:AMGN) Reaches New 12-Month High on Analyst Upgrade

Amgen Inc. (NASDAQ:AMGN) hit a new 52-week high during trading on Tuesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $280.00 to $285.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Amgen traded as high as $336.05 and last traded at $335.1070, with a volume of 1290548 shares. The stock had previously closed at $323.66.

Several other research analysts have also weighed in on AMGN. Raymond James Financial started coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Piper Sandler reissued an “overweight” rating on shares of Amgen in a research report on Wednesday, November 5th. Cantor Fitzgerald upped their target price on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company lifted their price target on Amgen from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Finally, The Goldman Sachs Group cut their price objective on shares of Amgen from $405.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus target price of $311.74.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amgen

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen in the first quarter valued at $25,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in Amgen during the second quarter worth about $27,000. Activest Wealth Management raised its stake in Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after acquiring an additional 103 shares in the last quarter. Finally, Evelyn Partners Investment Management LLP acquired a new stake in shares of Amgen during the second quarter worth approximately $32,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 3.2%

The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The firm has a fifty day moving average price of $290.66 and a 200 day moving average price of $288.96. The company has a market cap of $179.82 billion, a P/E ratio of 27.30, a PEG ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, topping 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 business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. During the same period in the previous year, the firm posted $5.58 earnings per share. Amgen’s revenue for the quarter was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a yield of 2.9%. Amgen’s dividend payout ratio is 73.57%.

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.