Amgen (NASDAQ:AMGN) Upgraded to Buy at Wall Street Zen

Key Points

• Amgen has been upgraded by Wall Street Zen from a "hold" rating to a "buy" rating, indicating a positive outlook from analysts.
• Analyst reports show a mixed sentiment on Amgen's stock, with 7 ratings as "Buy," 13 as "Hold," and 1 as "Sell," alongside a current consensus target price of $309.70.
• Amgen reported quarterly earnings of $6.02 EPS, surpassing estimates, with a revenue increase of 9.4% year-over-year, totaling $9.18 billion.

Amgen (NASDAQ:AMGN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Friday.

A number of other equities research analysts have also commented on AMGN. Piper Sandler upped their price target on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday, August 25th. William Blair reiterated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Raymond James Financial initiated coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating for the company. Morgan Stanley upped their price target on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, UBS Group reduced their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Amgen currently has an average rating of "Hold" and a consensus target price of $309.70.

Amgen Trading Up 0.2%

Shares of AMGN traded up $0.49 during mid-day trading on Friday, reaching $297.89. The company's stock had a trading volume of 2,518,487 shares, compared to its average volume of 2,807,983. The stock has a market cap of $160.37 billion, a PE ratio of 24.36, a P/E/G ratio of 2.58 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen has a 52 week low of $253.30 and a 52 week high of $335.88. The company's fifty day moving average price is $287.34 and its two-hundred day moving average price is $288.36.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results 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. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the prior year, the business posted $4.97 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts predict that Amgen will post 20.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.76% of the company's stock.

Institutional Trading of Amgen

Institutional investors have recently modified their holdings of the business. Wealth Preservation Advisors LLC purchased a new stake in shares of Amgen in the first quarter valued at approximately $25,000. First Pacific Financial boosted its stake in shares of Amgen by 304.5% in 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 in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of Amgen by 1,214.3% in 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 in the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the second quarter valued at approximately $27,000. Finally, Activest Wealth Management boosted its stake in shares of Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after buying an additional 103 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

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