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.
Amgen Price Performance
Shares of AMGN opened at $248.36 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.53 and a debt-to-equity ratio of 14.76. The stock has a market cap of $132.67 billion, a PE ratio of 21.05, a PEG ratio of 2.03 and a beta of 0.56. Amgen has a 12-month low of $198.64 and a 12-month high of $258.45. The business has a 50-day simple moving average of $244.81 and a two-hundred day simple moving average of $240.17.
Amgen (NASDAQ:AMGN - Get Rating) last released its quarterly earnings results on Thursday, August 4th. The medical research company reported $4.65 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $6.53 billion. During the same period in the previous year, the business posted $4.38 earnings per share. The business's quarterly revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that Amgen will post 17.42 earnings per share for the current fiscal year.
Amgen Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be given a dividend of $1.94 per share. This represents a $7.76 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Wednesday, August 17th. Amgen's payout ratio is 65.76%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on AMGN. Atlantic Securities dropped their price objective on Amgen from $190.00 to $182.00 and set an "underweight" rating for the company in a report on Tuesday. Barclays boosted their price target on Amgen from $233.00 to $236.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 12th. Oppenheimer reiterated an "outperform" rating and set a $290.00 price objective on shares of Amgen in a research note on Friday, June 24th. SVB Leerink initiated coverage on shares of Amgen in a research report on Monday, May 23rd. They issued a "market perform" rating and a $256.00 target price for the company. Finally, Piper Sandler increased their price target on shares of Amgen from $260.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Amgen has a consensus rating of "Hold" and a consensus price target of $245.14.
Insider Activity at Amgen
In related news, Director R Sanders Williams sold 600 shares of the company's stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $250.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now owns 5,501 shares of the company's stock, valued at approximately $1,375,250. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.
