Sanford C. Bernstein Downgrades Amgen (NASDAQ:AMGN) to Market Perform

Amgen (NASDAQ:AMGN) was downgraded by Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday,Finviz reports. They presently have a $335.00 price target on the medical research company’s stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 1.81% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. Daiwa Capital Markets increased their price objective on shares of Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. DZ Bank increased their price target on Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. HSBC restated a “buy” rating and set a $425.00 price target on shares of Amgen in a research report on Wednesday, December 10th. Argus boosted their target price on shares of Amgen from $310.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, December 30th. Finally, Scotiabank began coverage on Amgen in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $339.24.

Amgen Stock Down 0.4%

NASDAQ:AMGN traded down $1.35 during mid-day trading on Tuesday, reaching $329.06. The stock had a trading volume of 448,126 shares, compared to its average volume of 2,386,687. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99. The company has a market capitalization of $177.19 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 2.94 and a beta of 0.45. Amgen has a 1-year low of $261.43 and a 1-year high of $346.38. The stock’s 50 day simple moving average is $331.69 and its two-hundred day simple moving average is $306.41.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter last year, the business posted $5.58 EPS. Amgen’s quarterly 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. Equities analysts anticipate that Amgen will post 20.62 EPS for the current year.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the sale, the senior vice president owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This trade represents a 11.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,908 shares of company stock valued at $3,674,966 in the last quarter. Insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Amgen

Institutional investors and hedge funds have recently modified their holdings of the stock. Toth Financial Advisory Corp raised its holdings in Amgen by 3.9% during the 4th quarter. Toth Financial Advisory Corp now owns 26,697 shares of the medical research company’s stock worth $8,738,000 after buying an additional 1,009 shares during the period. Aspiriant LLC raised its holdings in shares of Amgen by 5.9% during the fourth quarter. Aspiriant LLC now owns 4,737 shares of the medical research company’s stock valued at $1,550,000 after acquiring an additional 262 shares during the period. ASL Financial LLC acquired a new stake in shares of Amgen during the fourth quarter valued at approximately $704,000. Howard Capital Management Group LLC lifted its position in shares of Amgen by 1.5% in the 4th quarter. Howard Capital Management Group LLC now owns 5,453 shares of the medical research company’s stock valued at $1,785,000 after acquiring an additional 79 shares in the last quarter. Finally, Pacific Sage Partners LLC boosted its stake in Amgen by 9.9% in the 4th quarter. Pacific Sage Partners LLC now owns 5,913 shares of the medical research company’s stock worth $1,935,000 after purchasing an additional 533 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Company Profile

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.