What is Leerink Partnrs' Estimate for Amgen FY2027 Earnings?

Amgen Inc. (NASDAQ:AMGN - Free Report) - Leerink Partnrs boosted their FY2027 earnings per share (EPS) estimates for Amgen in a note issued to investors on Tuesday, June 10th. Leerink Partnrs analyst D. Risinger now forecasts that the medical research company will post earnings of $20.08 per share for the year, up from their prior forecast of $19.97. The consensus estimate for Amgen's current full-year earnings is $20.62 per share. Leerink Partnrs also issued estimates for Amgen's FY2028 earnings at $19.65 EPS and FY2029 earnings at $21.37 EPS.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. During the same period in the previous year, the business posted $3.96 earnings per share. The business's quarterly revenue was up 9.4% compared to the same quarter last year.

Several other brokerages have also recently commented on AMGN. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target on the stock. Mizuho increased their price target on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. UBS Group restated a "neutral" rating and set a $315.00 price target (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Finally, Royal Bank of Canada cut their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $309.22.

Amgen Trading Up 1.9%

AMGN stock traded up $5.48 during trading on Thursday, hitting $297.29. The company had a trading volume of 2,159,678 shares, compared to its average volume of 2,814,397. The business has a 50-day moving average of $280.88 and a 200-day moving average of $285.46. Amgen has a one year low of $253.30 and a one year high of $346.85. The stock has a market cap of $159.85 billion, a PE ratio of 39.38, a PEG ratio of 2.63 and a beta of 0.51. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Centricity Wealth Management LLC bought a new position in Amgen in the 4th quarter valued at $25,000. Wealth Preservation Advisors LLC purchased a new stake in Amgen in the 1st quarter worth about $25,000. Pinney & Scofield Inc. purchased a new stake in Amgen in the 4th quarter worth about $26,000. First Pacific Financial increased its holdings in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after acquiring an additional 67 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its holdings in Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.76% of the company's stock.

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.