Cantor Fitzgerald Begins Coverage on Amgen (NASDAQ:AMGN)

Equities research analysts at Cantor Fitzgerald began coverage on shares of Amgen (NASDAQ:AMGN - Get Free Report) in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $305.00 price target on the medical research company's stock. Cantor Fitzgerald's target price would suggest a potential upside of 8.60% from the stock's previous close. Cantor Fitzgerald also issued estimates for Amgen's FY2025 earnings at $20.50 EPS.

Several other research analysts have also weighed in on the company. Morgan Stanley upped their target price on Amgen from $328.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 9th. UBS Group raised their price objective on shares of Amgen from $315.00 to $319.00 and gave the company a "neutral" rating in a research report on Monday, April 14th. Piper Sandler Companies reiterated an "overweight" rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Bank of America increased their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $324.00 price objective on shares of Amgen in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $310.57.

Amgen Stock Up 0.4 %

Shares of AMGN stock traded up $1.00 during trading on Tuesday, hitting $280.84. 1,994,531 shares of the company were exchanged, compared to its average volume of 2,791,608. The business's 50-day simple moving average is $301.52 and its 200 day simple moving average is $292.62. Amgen has a twelve month low of $253.30 and a twelve month high of $346.85. The firm has a market capitalization of $150.99 billion, a price-to-earnings ratio of 37.20, a P/E/G ratio of 2.63 and a beta of 0.59. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, analysts forecast that Amgen will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now owns 28,987 shares of the company's stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares of the company's stock, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,341 shares of company stock worth $20,644,335. Insiders own 0.69% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Amgen by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock valued at $13,741,409,000 after buying an additional 339,522 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after buying an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC lifted its stake in Amgen by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock valued at $3,245,881,000 after acquiring an additional 352,143 shares during the last quarter. Capital International Investors grew its position in shares of Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after acquiring an additional 3,495,503 shares during the period. Finally, Capital World Investors increased its stake in shares of Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

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.