Wall Street Zen Upgrades Amgen (NASDAQ:AMGN) to "Buy"

Key Points

• Amgen has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, signaling a more favorable outlook for the stock.
• Despite the upgrade, several analysts have varying opinions, with target prices for Amgen ranging from $261 to $342, reflecting a mix of ratings from buy to underperform.
• Recently, Amgen reported $6.02 earnings per share, exceeding expectations, with plans to achieve 20.62 earnings per share for the current fiscal year.

Amgen (NASDAQ:AMGN - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Sunday.

A number of other equities analysts have also recently commented on the stock. UBS Group decreased their target price on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Citigroup lifted their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Bank of America lifted their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a research report on Friday, September 26th. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Finally, Piper Sandler raised their price target on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Amgen has a consensus rating of "Hold" and an average price target of $305.50.

Amgen Stock Performance

Amgen stock opened at $298.81 on Friday. The firm's fifty day moving average price is $287.14 and its 200-day moving average price is $287.15. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a market cap of $160.87 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 2.64 and a beta of 0.49. Amgen has a fifty-two week low of $253.30 and a fifty-two week high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts expect that Amgen will post 20.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.

Institutional Investors Weigh In On Amgen

Several hedge funds have recently bought and sold shares of the business. Fairvoy Private Wealth LLC boosted its stake in Amgen by 1.1% during the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company's stock worth $885,000 after acquiring an additional 35 shares in the last quarter. Nicholson Wealth Management Group LLC boosted its stake in Amgen by 0.6% during 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 acquiring an additional 35 shares in the last quarter. Crumly & Associates Inc. boosted its stake in Amgen by 3.2% during the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock worth $320,000 after acquiring an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. boosted its stake in Amgen by 5.2% during the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock worth $204,000 after acquiring an additional 36 shares in the last quarter. Finally, Lion Street Advisors LLC boosted its stake in Amgen by 1.3% during the second quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company's stock worth $774,000 after acquiring an additional 36 shares in the last quarter. 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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