Amgen (NASDAQ:AMGN) Downgraded to “Hold” Rating by Wall Street Zen

Amgen (NASDAQ:AMGN) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

AMGN has been the topic of a number of other reports. Leerink Partners reissued a “market perform” rating and set a $355.00 price target on shares of Amgen in a research report on Thursday, March 5th. Argus decreased their price objective on shares of Amgen from $400.00 to $375.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Guggenheim cut their target price on Amgen from $351.00 to $340.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. UBS Group increased their price target on Amgen from $390.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Finally, Royal Bank Of Canada reiterated a “positive” rating on shares of Amgen in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Amgen presently has a consensus rating of “Hold” and an average target price of $354.42.

Amgen Stock Up 1.6%

Shares of NASDAQ:AMGN opened at $358.61 on Friday. The stock has a market cap of $193.54 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 3.54 and a beta of 0.42. The business’s 50 day moving average is $340.70 and its 200 day moving average is $346.20. Amgen has a 12-month low of $269.77 and a 12-month high of $391.29. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating the consensus estimate of $4.77 by $0.38. The business had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, sell-side analysts forecast that Amgen will post 22.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the completion of the transaction, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Amgen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Norges Bank purchased a new position in Amgen during the fourth quarter valued at approximately $2,164,162,000. Capital World Investors lifted its stake in Amgen by 22.9% in the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock worth $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. State Street Corp boosted its holdings in Amgen by 4.4% in the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock valued at $10,012,872,000 after purchasing an additional 1,287,310 shares during the period. Geode Capital Management LLC grew its position in shares of Amgen by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after purchasing an additional 1,035,779 shares in the last quarter. Finally, Amundi grew its position in shares of Amgen by 41.1% during the 4th quarter. Amundi now owns 3,396,945 shares of the medical research company’s stock valued at $1,111,854,000 after purchasing an additional 988,856 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

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.