#2 - Amgen (NASDAQ:AMGN)
Amgen Inc. (NASDAQ: AMGN) is an ideal choice for value-oriented investors. By almost every measure, Amgen offers investors an enticing dividend with a 3.21% yield, an $8.52 annual payout per share, and 11 consecutive years of dividend growth.
But the story is less clear if you're looking for stock price growth. AMGN stock is up slightly more than 1% in 2023, and the consensus price target suggests the stock may be topping out.
The company delivered a solid earnings report in August 2023, but it couldn't provide investors with clarity over its proposed $28 billion acquisition of Horizon Therapeutics. (NASDAQ: HZNP). The Federal Trade Commission (FTC) is holding up the acquisition over regulatory concerns. As of this writing, the FTC has ignored Amgen's commitments to address those concerns.
Of the 26 analysts that have rated Amgen in the last three months, 17 give the stock a Hold rating or worse. And the consensus price target of $252.96 is 4.5% lower than the stock's closing price on August 16, 2023.
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.
Read More - Current Price
- $307.37
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 11 Buy Ratings, 10 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $305.65 (0.6% Downside)
