Amgen (NASDAQ:AMGN) Stock Rating Lowered by Sanford C. Bernstein

Amgen (NASDAQ:AMGN) was downgraded by equities researchers at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, MarketBeat reports. They currently have a $335.00 price target on the medical research company’s stock. Sanford C. Bernstein’s price objective points to a potential downside of 2.50% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Daiwa Capital Markets raised their price target on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Bank of America increased their price objective on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Argus boosted their target price on shares of Amgen from $310.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, December 30th. Royal Bank Of Canada raised their price target on shares of Amgen from $330.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Amgen in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $339.24.

Amgen Stock Performance

NASDAQ:AMGN opened at $343.60 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45. The company has a market capitalization of $185.02 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 2.94 and a beta of 0.45. The firm has a 50-day moving average price of $331.69 and a two-hundred day moving average price of $306.90. Amgen has a twelve month low of $261.43 and a twelve month high of $346.38.

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

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the transaction, the senior vice president directly owned 7,082 shares in the company, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 10,908 shares of company stock worth $3,674,966. 0.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amgen

A number of institutional investors have recently added to or reduced their stakes in the company. Board of the Pension Protection Fund purchased a new stake in shares of Amgen during the 4th quarter worth about $26,000. Legacy Investment Solutions LLC purchased a new position in Amgen in the second quarter valued at approximately $27,000. Evelyn Partners Investment Management LLP acquired a new position in Amgen during the second quarter valued at approximately $32,000. Howard Hughes Medical Institute purchased a new stake in Amgen during the second quarter worth approximately $32,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Amgen in the fourth quarter worth $33,000. Hedge funds and other institutional investors 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.