Amgen (NASDAQ:AMGN) Given New $352.00 Price Target at Mizuho

Key Points

• Mizuho raised Amgen’s price target to $352 from $303 while maintaining a “neutral” rating, implying roughly 16% downside from the stock’s current price.
• Analyst sentiment remains cautious, with Amgen holding a consensus “Hold” rating and an average price target of $375.93.
• Amgen reported quarterly EPS of $6.29 and revenue of $10.05 billion, exceeding estimates, while revenue rose 9.5% year over year. Insiders have sold $2.54 million worth of shares over the past 90 days.

Amgen (NASDAQ:AMGN - Get Free Report) had its target price lifted by equities researchers at Mizuho from $303.00 to $352.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the medical research company's stock. Mizuho's target price suggests a potential downside of 16.07% from the stock's current price.

Several other analysts have also recently commented on AMGN. Canaccord Genuity Group increased their price target on shares of Amgen from $366.00 to $384.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. The Goldman Sachs Group set a $389.00 price objective on shares of Amgen in a research report on Friday, June 5th. BMO Capital Markets upped their price objective on Amgen from $400.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Citigroup increased their price objective on Amgen from $345.00 to $405.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Finally, Barclays lifted their target price on Amgen from $360.00 to $380.00 and gave the company an "equal weight" rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and a consensus price target of $375.93.

Amgen Stock Performance

Amgen stock opened at $419.38 on Tuesday. The stock has a 50-day simple moving average of $372.05 and a 200 day simple moving average of $359.47. The stock has a market capitalization of $226.73 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 3.86 and a beta of 0.41. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. Amgen has a 12-month low of $269.77 and a 12-month high of $421.79.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping analysts' consensus estimates of $5.62 by $0.67. The firm had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company's revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, research analysts anticipate that Amgen will post 22.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the transaction, the senior vice president owned 6,404 shares of the company's stock, valued at $2,666,817.72. This represents a 16.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the transaction, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,222 shares of company stock valued at $2,540,926 in the last ninety days. Company insiders own 0.85% of the company's stock.

Hedge Funds Weigh In On Amgen

Several hedge funds have recently added to or reduced their stakes in the stock. Roman Butler Fullerton & Co. grew its position in shares of Amgen by 1.4% during the 2nd quarter. Roman Butler Fullerton & Co. now owns 1,956 shares of the medical research company's stock worth $705,000 after buying an additional 27 shares during the period. High Note Wealth LLC increased its stake in shares of Amgen by 5.8% in the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock valued at $166,000 after acquiring an additional 28 shares during the last quarter. TAGStone Capital Inc. raised its position in shares of Amgen by 0.7% in the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company's stock valued at $1,351,000 after acquiring an additional 28 shares during the period. Verus Capital Partners LLC raised its position in shares of Amgen by 2.3% in the 4th quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company's stock valued at $403,000 after acquiring an additional 28 shares during the period. Finally, Destination Wealth Management boosted its stake in Amgen by 2.1% during the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company's stock worth $456,000 after acquiring an additional 29 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.

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