Amgen (NASDAQ:AMGN) Stock Rating Upgraded by Weiss Ratings

Key Points

• Amgen stock has been upgraded by Weiss Ratings from a "hold (c+)" to a "buy (b-)" rating, reflecting improved expectations for the company.
• Recent analyst updates include a price target increase from Morgan Stanley to $333 and from Bank of America to $272, but overall, Amgen retains a consensus rating of "Hold."
• Amgen's latest quarterly earnings report showed an EPS of $6.02, surpassing estimates, and a revenue of $9.18 billion, indicating a year-over-year revenue increase of 9.4%.

Amgen (NASDAQ:AMGN - Get Free Report) was upgraded by equities researchers at Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a research note issued on Wednesday,Weiss Ratings reports.

A number of other research analysts have also commented on the stock. Morgan Stanley lifted their price objective on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Bank of America lifted their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research note on Friday, September 26th. Piper Sandler boosted their price target on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Citigroup boosted their price target on shares of Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Amgen currently has a consensus rating of "Hold" and an average target price of $309.42.

Amgen Stock Performance

NASDAQ AMGN traded down $0.92 during trading on Wednesday, reaching $294.62. The company's stock had a trading volume of 2,913,120 shares, compared to its average volume of 2,786,145. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market cap of $158.61 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 2.55 and a beta of 0.49. Amgen has a twelve month low of $253.30 and a twelve month high of $335.88. The business's fifty day moving average price is $287.04 and its 200-day moving average price is $287.88.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, analysts anticipate that Amgen will post 20.62 EPS for the current fiscal year.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is owned by company insiders.

Institutional Trading of Amgen

Several institutional investors and hedge funds have recently modified their holdings of AMGN. Wealth Preservation Advisors LLC purchased a new position in shares of Amgen during the first quarter valued at approximately $25,000. First Pacific Financial lifted its stake in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after buying an additional 67 shares during the period. CBIZ Investment Advisory Services LLC lifted its stake in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after buying an additional 85 shares during the period. Legacy Investment Solutions LLC acquired a new position in Amgen during the second quarter worth approximately $27,000. Finally, Activest Wealth Management increased its position 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 purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Company Profile

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.

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