UBS Group Issues Positive Forecast for Amgen (NASDAQ:AMGN) Stock Price

Key Points

• UBS Group raised Amgen’s price target from $430 to $470 and maintained a “buy” rating, implying 14.36% upside from the prior close.
• Analyst sentiment remains mixed: Amgen has an average “hold” rating and consensus target of $389.71, despite shares trading near $411.
• Amgen reported quarterly EPS of $6.29, beating estimates by $0.67, while revenue rose 9.5% year over year to $10.05 billion.

Amgen (NASDAQ:AMGN - Get Free Report) had its price target raised by equities researchers at UBS Group from $430.00 to $470.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the medical research company's stock. UBS Group's target price would indicate a potential upside of 14.36% from the company's previous close.

A number of other analysts also recently issued reports on AMGN. Morgan Stanley reduced their price objective on Amgen from $362.00 to $359.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Canaccord Genuity Group raised their target price on shares of Amgen from $366.00 to $384.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Barclays upped their price target on shares of Amgen from $360.00 to $380.00 and gave the stock an "equal weight" rating in a report on Friday, August 14th. Guggenheim upped their target price on Amgen from $343.00 to $388.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Finally, HSBC cut shares of Amgen from a "buy" rating to a "hold" rating and lowered their price target for the stock from $445.00 to $425.00 in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $389.71.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $3.54 during trading on Friday, hitting $410.99. The company had a trading volume of 405,155 shares, compared to its average volume of 2,744,292. Amgen has a 12 month low of $288.00 and a 12 month high of $447.03. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. The firm has a market capitalization of $222.19 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 2.98 and a beta of 0.41. The stock has a 50 day simple moving average of $412.35 and a 200 day simple moving average of $371.88.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The company had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. During the same period in the previous year, the company posted $6.02 EPS. The firm's revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, analysts anticipate that Amgen will post 22.94 earnings per share for the current year.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,252 shares of the firm's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the sale, the senior vice president directly owned 6,404 shares of the company's stock, valued at $2,666,817.72. This trade represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nancy Grygiel sold 2,970 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AMGN. BlackRock Inc. raised its stake in Amgen by 4.8% during the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company's stock worth $17,874,974,000 after purchasing an additional 2,261,544 shares during the period. State Street Corp lifted its holdings in Amgen by 38.2% in the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company's stock valued at $15,283,363,000 after acquiring an additional 11,656,755 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Amgen by 12.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company's stock worth $1,952,156,000 after acquiring an additional 605,928 shares during the period. Bank of America Corp DE acquired a new stake in Amgen during the second quarter worth $1,831,903,000. Finally, Invesco Ltd. increased its stake in Amgen by 7.2% during the fourth quarter. Invesco Ltd. now owns 4,788,460 shares of the medical research company's stock worth $1,567,311,000 after acquiring an additional 321,173 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen's portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.

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