Wall Street Zen Upgrades Amgen (NASDAQ:AMGN) to “Strong-Buy”

Amgen (NASDAQ:AMGN) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

Other analysts also recently issued reports about the company. HSBC reiterated a “buy” rating and set a $425.00 target price on shares of Amgen in a research note on Wednesday, December 10th. Citigroup lifted their price objective on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Raymond James Financial started coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Truist Financial initiated coverage on shares of Amgen in a research note on Monday, November 24th. They set a “hold” rating and a $318.00 target price on the stock. Finally, Bank of America lifted their price target on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $332.85.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $326.74 on Monday. The business has a fifty day moving average price of $317.37 and a 200-day moving average price of $299.50. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99. The company has a market capitalization of $175.94 billion, a PE ratio of 25.25, a PEG ratio of 2.94 and a beta of 0.45. Amgen has a 1-year low of $253.30 and a 1-year high of $346.38.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.98 billion. During the same period last year, the business earned $5.58 EPS. Amgen’s revenue was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities analysts expect that Amgen will post 20.62 EPS for the current fiscal year.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the sale, the senior vice president directly owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 10,908 shares of company stock worth $3,674,966. 0.69% of the stock is owned by company insiders.

Institutional Trading of Amgen

Several hedge funds have recently bought and sold shares of AMGN. West Family Investments Inc. lifted its position in shares of Amgen by 1.1% during the 3rd quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company’s stock valued at $779,000 after buying an additional 30 shares in the last quarter. Viawealth LLC raised its stake in Amgen by 0.4% during the 3rd quarter. Viawealth LLC now owns 7,168 shares of the medical research company’s stock worth $2,023,000 after acquiring an additional 30 shares during the period. LOM Asset Management Ltd lifted its holdings in Amgen by 1.2% during the third quarter. LOM Asset Management Ltd now owns 2,554 shares of the medical research company’s stock valued at $721,000 after purchasing an additional 30 shares in the last quarter. Sittner & Nelson LLC lifted its holdings in Amgen by 0.4% during the third quarter. Sittner & Nelson LLC now owns 7,276 shares of the medical research company’s stock valued at $2,053,000 after purchasing an additional 30 shares in the last quarter. Finally, TAGStone Capital Inc. boosted its position in shares of Amgen by 0.8% in the third quarter. TAGStone Capital Inc. now owns 4,101 shares of the medical research company’s stock worth $1,157,000 after purchasing an additional 32 shares during the period. Institutional investors own 76.50% 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.