Amgen Inc. (AMGN) - What Are Researchers Thinking About This Stock?

Key Points

• Analysts broadly rate Amgen “Hold”: Of 33 covering analysts, 18 recommend hold, 12 buy or strong buy, and three sell; the average 12-month price target is $422.76.
• Amgen reported quarterly earnings of $6.45 per share, topping the $5.79 consensus estimate, while revenue rose 8.5% year over year to $10.37 billion.
• Amgen’s Phase 3 trial of experimental drug dazodalibep met its primary endpoint in Sjögren’s disease, but the treatment still requires further development and regulatory review before it could reach the market.

Shares of Amgen Inc. (NASDAQ:AMGN - Get Free Report) have been given a consensus rating of "Hold" by the thirty-three analysts that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $422.76.

Several research firms have commented on AMGN. HSBC lowered shares of Amgen from a "buy" rating to a "hold" rating and decreased their price target for the company from $445.00 to $425.00 in a research report on Thursday, September 10th. Barclays lifted their price objective on shares of Amgen from $380.00 to $400.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 21st. Sanford C. Bernstein boosted their price objective on shares of Amgen from $345.00 to $400.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 4th. Cantor Fitzgerald increased their target price on shares of Amgen from $440.00 to $465.00 and gave the company a "neutral" rating in a research report on Wednesday, November 4th. Finally, Wall Street Zen upgraded shares of Amgen from a "hold" rating to a "buy" rating in a research note on Sunday, October 18th.

Institutional Trading of Amgen

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rational Advisors Inc. increased its position in Amgen by 13.7% during the 2nd quarter. Rational Advisors Inc. now owns 199 shares of the medical research company's stock valued at $72,000 after buying an additional 24 shares in the last quarter. Beacon Financial Advisory LLC raised its stake in Amgen by 2.0% in the second quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company's stock valued at $461,000 after buying an additional 25 shares during the last quarter. James T. Borello RIA boosted its holdings in Amgen by 13.6% in the third quarter. James T. Borello RIA now owns 209 shares of the medical research company's stock worth $88,000 after acquiring an additional 25 shares in the last quarter. Sweeney & Michel LLC boosted its holdings in Amgen by 0.5% in the third quarter. Sweeney & Michel LLC now owns 5,129 shares of the medical research company's stock worth $2,162,000 after acquiring an additional 25 shares in the last quarter. Finally, Legacy Financial Advisors Inc. grew its stake in shares of Amgen by 0.8% during the second quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company's stock worth $1,234,000 after acquiring an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Trending Headlines about Amgen

Here are a few of the latest headlines about AMGN:

• Positive Sentiment: Dazodalibep met the primary endpoint in the 648-patient OASIZ-301 trial, with both dosing regimens producing statistically significant reductions in systemic disease activity versus placebo over 48 weeks. Amgen also reported clinically meaningful improvements in patient-reported symptoms, potentially positioning the drug in a disease area with no approved treatments. Reuters article
• Neutral Sentiment: The positive data may improve dazodalibep’s commercial prospects, but it remains investigational; further development and regulatory review are needed before it can generate sales. Amgen announcement
• Negative Sentiment: Despite the encouraging results, some coverage reported that Amgen shares slipped, indicating investors may be taking a cautious or “sell-the-news” approach rather than immediately pricing in the drug’s longer-term potential. MSN article

Amgen Price Performance

Shares of AMGN stock opened at $468.11 on Thursday. Amgen has a twelve month low of $312.39 and a twelve month high of $483.99. The company has a current ratio of 1.48, a quick ratio of 1.20 and a debt-to-equity ratio of 3.60. The stock has a fifty day simple moving average of $424.39 and a two-hundred day simple moving average of $380.01. The stock has a market capitalization of $253.21 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 3.25 and a beta of 0.43.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.79 by $0.66. Amgen had a return on equity of 114.99% and a net margin of 24.14%. The business had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.07 billion. During the same period last year, the business posted $5.64 EPS. The business's revenue was up 8.5% compared to the same quarter last year. On average, analysts predict that Amgen will post 23.33 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be given a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.2%. Amgen's dividend payout ratio is presently 58.47%.

Amgen Company Profile

Amgen is a biotechnology company that discovers, develops, manufactures and commercializes medicines for serious illnesses. Its research and product portfolio span areas including cancer, cardiovascular disease, inflammation, bone health and rare diseases. The company's medicines include Enbrel, Prolia, Xgeva and Repatha. Amgen serves patients and healthcare providers in the United States and markets its products internationally. Founded in 1980 and headquartered in Thousand Oaks, California, Amgen is led by Robert A. Bradway, who has served as its chief executive officer since 2012.

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