Amgen - AMGN Stock Forecast, Price & News

Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization. It also markets Nplate, Vectibix, MVASI, Parsabiv, EPOGEN, KANJINTI, BLINCYTO, Aimovig, EVENITY, AMGEVITATM, Sensipar/Mimpara, NEUPOGEN, IMLYGIC, Corlanor, and AVSOLA. Amgen Inc. serves healthcare providers, including physicians or their clinics, dialysis centers, hospitals, and pharmacies. It distributes its products through pharmaceutical wholesale distributors, as well as direct-to-consumer channels. It has collaboration agreements with Novartis Pharma AG; UCB; Bayer HealthCare LLC; BeiGene, Ltd.; Eli Lilly and Company; Datos Health; and Verastem, Inc. to evaluate VS-6766 in combination with lumakrastm (Sotorasib) in patients with KRAS G12C-mutant non-small cell lung cancer. It has an agreement with Kyowa Kirin Co., Ltd. to jointly develop and commercialize KHK4083, a Phase 3-ready anti-OX40 fully human monoclonal antibody for the treatment of atopic dermatitis and other autoimmune diseases; and research and development collaboration with Neumora Therapeutics, Inc. and Plexium, Inc. Amgen Inc. was incorporated in 1980 and is headquartered in Thousand Oaks, California.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. SVB Leerink assumed coverage on shares of Amgen in a research report on Monday, May 23rd. They set a "market perform" rating and a $256.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of Amgen from $224.00 to $236.00 in a research report on Friday, August 5th. StockNews.com cut shares of Amgen from a "strong-buy" rating to a "buy" rating in a research report on Monday. BMO Capital Markets cut their price objective on shares of Amgen from $263.00 to $243.00 in a research report on Thursday, April 28th. Finally, Morgan Stanley upped their price objective on shares of Amgen from $239.00 to $253.00 and gave the stock an "equal weight" rating in a research report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $245.14.

Amgen Stock Performance

Amgen stock opened at $248.35 on Friday. The business has a 50 day moving average of $244.78 and a 200-day moving average of $240.25. Amgen has a 1 year low of $198.64 and a 1 year high of $258.45. The company has a debt-to-equity ratio of 14.76, a current ratio of 1.53 and a quick ratio of 1.17. The company has a market capitalization of $132.85 billion, a P/E ratio of 21.05, a P/E/G ratio of 2.01 and a beta of 0.56.

Amgen (NASDAQ:AMGN - Get Rating) last released its quarterly earnings data on Thursday, August 4th. The medical research company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.25. Amgen had a return on equity of 218.34% and a net margin of 24.92%. The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.53 billion. During the same quarter in the prior year, the firm posted $4.38 earnings per share. The firm's revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts predict that Amgen will post 17.42 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be paid a $1.94 dividend. This represents a $7.76 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Wednesday, August 17th. Amgen's dividend payout ratio is currently 65.76%.

Insider Activity

In other news, Director R Sanders Williams sold 600 shares of the company's stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $250.00, for a total value of $150,000.00. Following the completion of the transaction, the director now owns 5,501 shares of the company's stock, valued at $1,375,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is currently owned by insiders.