Amgen (NASDAQ:AMGN) Stock Rating Upgraded by Freedom Capital

Key Points

• Freedom Capital upgraded Amgen from a "hold" to a "strong-buy", and several firms (RBC, UBS) raised price targets, but the MarketBeat consensus remains a "Hold" with an average target of $357.12.
• Amgen beat quarterly expectations with $5.15 EPS vs. $4.77 expected and $8.62B revenue vs. $8.58B, and set FY2026 guidance of 21.700–23.100 EPS (analysts forecast 22.36).
• SVP Nancy Grygiel sold 1,237 shares recently, while institutional investors now own about 76.5% of the company, with Vanguard, State Street and others increasing stakes.

Amgen (NASDAQ:AMGN - Get Free Report) was upgraded by equities research analysts at Freedom Capital from a "hold" rating to a "strong-buy" rating in a research report issued on Thursday,Zacks.com reports.

A number of other research firms have also commented on AMGN. Royal Bank Of Canada lifted their target price on shares of Amgen from $360.00 to $370.00 and gave the stock an "outperform" rating in a report on Tuesday, April 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $350.00 target price on shares of Amgen in a report on Wednesday, April 8th. Truist Financial lifted their target price on shares of Amgen from $325.00 to $327.00 and gave the stock a "hold" rating in a report on Friday, May 1st. Canaccord Genuity Group initiated coverage on shares of Amgen in a report on Monday, April 20th. They set a "hold" rating and a $366.00 target price for the company. Finally, UBS Group lifted their target price on shares of Amgen from $390.00 to $400.00 and gave the stock a "buy" rating in a report on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Amgen presently has a consensus rating of "Hold" and an average target price of $357.12.

Amgen Price Performance

AMGN opened at $328.91 on Thursday. The company has a fifty day moving average price of $355.12 and a two-hundred day moving average price of $341.81. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.90 and a current ratio of 1.26. Amgen has a 52 week low of $261.43 and a 52 week high of $391.29. The firm has a market capitalization of $177.51 billion, a PE ratio of 22.89, a P/E/G ratio of 3.33 and a beta of 0.44.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the previous year, the business earned $4.90 EPS. The business's quarterly revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, analysts anticipate that Amgen will post 22.36 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.85% of the company's stock.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Amgen by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock worth $17,949,296,000 after buying an additional 961,975 shares in the last quarter. State Street Corp lifted its position in Amgen by 4.4% during the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock worth $10,012,872,000 after buying an additional 1,287,310 shares in the last quarter. Capital World Investors lifted its position in Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock worth $7,560,249,000 after buying an additional 4,302,237 shares in the last quarter. Capital International Investors lifted its position in Amgen by 1.5% during the 3rd quarter. Capital International Investors now owns 19,192,995 shares of the medical research company's stock worth $5,414,296,000 after buying an additional 282,219 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Amgen by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock worth $4,665,822,000 after buying an additional 1,035,779 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

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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