FY2027 Earnings Forecast for Amgen Issued By Leerink Partnrs

Amgen Inc. (NASDAQ:AMGN) – Analysts at Leerink Partnrs increased their FY2027 EPS estimates for Amgen in a note issued to investors on Tuesday, June 10th. Leerink Partnrs analyst D. Risinger now anticipates that the medical research company will post earnings per share of $20.08 for the year, up from their prior estimate 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) last announced its quarterly earnings data 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. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $3.96 EPS.

Several other equities research analysts have also issued reports on AMGN. Bank of America upped their price target on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Johnson Rice set a $294.00 price target on shares of Amgen in a research report on Wednesday, March 5th. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Finally, Piper Sandler decreased their target price on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $309.22.

Amgen Trading Down 0.7%

NASDAQ:AMGN opened at $295.22 on Thursday. The company has a market cap of $158.74 billion, a PE ratio of 39.10, a P/E/G ratio of 2.63 and a beta of 0.51. The business’s 50 day moving average is $281.33 and its two-hundred day moving average is $285.58. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen has a 52 week low of $253.30 and a 52 week high of $346.85.

Institutional Investors Weigh In On Amgen

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tallon Kerry Patrick bought a new position in shares of Amgen in the fourth quarter valued at $270,000. Brighton Jones LLC raised its position in shares of Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares during the period. Essex Financial Services Inc. lifted its holdings in shares of Amgen by 6.6% during the fourth quarter. Essex Financial Services Inc. now owns 5,199 shares of the medical research company’s stock valued at $1,355,000 after purchasing an additional 321 shares during the last quarter. Sovran Advisors LLC acquired a new position in shares of Amgen in the 4th quarter valued at $1,141,000. Finally, Augustine Asset Management Inc. increased its stake in Amgen by 45.2% in the 4th quarter. Augustine Asset Management Inc. now owns 8,520 shares of the medical research company’s stock worth $2,221,000 after purchasing an additional 2,653 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Activity at Amgen

In other 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company 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.