Argus Increases Amgen (NASDAQ:AMGN) Price Target to $360.00

Amgen (NASDAQ:AMGN) had its price objective increased by equities research analysts at Argus from $310.00 to $360.00 in a report released on Tuesday, MarketBeat reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Argus’ price objective would suggest a potential upside of 9.99% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Truist Financial started coverage on Amgen in a report on Monday, November 24th. They set a “hold” rating and a $318.00 price objective on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Amgen in a research note on Tuesday, November 25th. Raymond James Financial started coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Erste Group Bank raised shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Finally, Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $334.14.

Amgen Stock Down 0.4%

Shares of NASDAQ:AMGN opened at $327.31 on Tuesday. The company has a 50 day moving average price of $324.68 and a two-hundred day moving average price of $302.40. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The company has a market capitalization of $176.25 billion, a PE ratio of 25.29, a PEG ratio of 3.05 and a beta of 0.45. Amgen has a 52 week low of $257.05 and a 52 week high of $346.38.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.01 by $0.63. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Analysts forecast that Amgen will post 20.62 earnings per share for the current year.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the transaction, the senior vice president directly owned 7,082 shares in the company, valued at $2,381,251.68. This trade represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the sale, the executive vice president owned 41,923 shares in the company, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 10,908 shares of company stock valued at $3,674,966. Insiders own 0.76% of the company’s stock.

Institutional Trading of Amgen

A number of large investors have recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC grew its holdings in Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after purchasing an additional 85 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the second quarter valued at approximately $27,000. Evelyn Partners Investment Management LLP bought a new position in shares of Amgen during the 2nd quarter worth approximately $32,000. Howard Hughes Medical Institute bought a new position in shares of Amgen during the 2nd quarter worth approximately $32,000. Finally, Quaker Wealth Management LLC increased its holdings in shares of Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after acquiring an additional 240 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.