Amgen's (AMGN) "Buy (B-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Amgen's stock rating was reaffirmed as "buy (B-)" by Weiss Ratings, indicating strong confidence in the company's future performance.
• Bank of America has increased Amgen's target price to $272, maintaining an "underperform" rating, while Citigroup raised its target to $315 with a "neutral" recommendation.
• Amgen reported a quarterly earnings per share of $6.02, exceeding expectations and showcasing a 9.4% revenue increase compared to the previous year.

Amgen (NASDAQ:AMGN - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by equities research analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

AMGN has been the topic of a number of other research reports. Bank of America increased their target price on Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a report on Friday, September 26th. Citigroup upped their target price on shares of Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Raymond James Financial initiated coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating on the stock. Piper Sandler upped their price objective on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. Finally, Wall Street Zen upgraded Amgen from a "hold" rating to a "buy" rating in a research report on Sunday, October 19th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of "Hold" and a consensus target price of $300.94.

Amgen Stock Down 0.2%

AMGN traded down $0.70 during trading on Friday, hitting $292.19. 798,280 shares of the company's stock traded hands, compared to its average volume of 2,725,953. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock has a market capitalization of $157.30 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 2.62 and a beta of 0.49. The company's 50 day simple moving average is $288.02 and its two-hundred day simple moving average is $287.23. Amgen has a 12-month low of $253.30 and a 12-month high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share 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 the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts predict that Amgen will post 20.62 earnings per share for the current fiscal year.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amgen

Several large investors have recently bought and sold shares of the business. Wealth Quarterback LLC increased its holdings in shares of Amgen by 1.6% in the 3rd quarter. Wealth Quarterback LLC now owns 2,210 shares of the medical research company's stock worth $624,000 after buying an additional 34 shares during the last quarter. Fairvoy Private Wealth LLC lifted its position in Amgen by 1.1% in the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company's stock worth $885,000 after buying an additional 35 shares during the last quarter. Nicholson Wealth Management Group LLC lifted its position in Amgen by 0.6% in the second quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company's stock worth $1,652,000 after buying an additional 35 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Amgen by 4.1% in the 3rd quarter. LS Investment Advisors LLC now owns 885 shares of the medical research company's stock worth $250,000 after acquiring an additional 35 shares during the last quarter. Finally, Crown Wealth Group LLC raised its position in Amgen by 4.0% in the 3rd quarter. Crown Wealth Group LLC now owns 910 shares of the medical research company's stock worth $257,000 after purchasing an additional 35 shares during the period. 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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