Amgen (NASDAQ:AMGN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Amgen (NASDAQ:AMGN) had its target price raised by equities research analysts at Wells Fargo & Company from $375.00 to $390.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage currently has an “equal weight” rating on the medical research company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 12.13% from the stock’s current price.

AMGN has been the subject of a number of other research reports. Daiwa Securities Group lifted their target price on Amgen from $370.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, February 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Amgen in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Amgen from $285.00 to $295.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. TD Cowen reaffirmed a “buy” rating on shares of Amgen in a report on Wednesday, February 4th. Finally, Argus increased their price objective on shares of Amgen from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Amgen has an average rating of “Hold” and an average target price of $354.60.

Amgen Price Performance

NASDAQ AMGN opened at $347.80 on Thursday. The company has a market cap of $187.49 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 3.47 and a beta of 0.45. The company has a debt-to-equity ratio of 5.78, a current ratio of 1.14 and a quick ratio of 0.90. The stock’s fifty day moving average price is $360.29 and its 200 day moving average price is $327.52. Amgen has a 1 year low of $261.43 and a 1 year high of $391.29.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.53. The company had revenue of $9.87 billion during the quarter, compared to analysts’ expectations of $9.46 billion. Amgen had a return on equity of 148.37% and a net margin of 20.98%.The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.31 EPS. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. As a group, equities research analysts forecast that Amgen will post 20.62 earnings per share for the current year.

Institutional Trading of Amgen

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Anfield Capital Management LLC raised its position in Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after acquiring an additional 70 shares during the period. Dogwood Wealth Management LLC grew its position in shares of Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 55 shares during the period. Board of the Pension Protection Fund acquired a new stake in shares of Amgen in the fourth quarter valued at about $26,000. Evelyn Partners Investment Management LLP purchased a new stake in shares of Amgen during the second quarter worth about $32,000. Finally, Howard Hughes Medical Institute purchased a new stake in shares of Amgen during the second quarter worth about $32,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

About Amgen

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.