Argus Lowers Amgen (NASDAQ:AMGN) Price Target to $375.00

Amgen (NASDAQ:AMGN) had its price target reduced by research analysts at Argus from $400.00 to $375.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the medical research company’s stock. Argus’ target price would suggest a potential upside of 13.89% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Canaccord Genuity Group started coverage on shares of Amgen in a research report on Monday, April 20th. They set a “hold” rating and a $366.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Amgen from $285.00 to $295.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Leerink Partners reissued a “market perform” rating and issued a $355.00 target price on shares of Amgen in a research report on Thursday, March 5th. Jefferies Financial Group began coverage on Amgen in a research note on Tuesday, March 10th. They set a “hold” rating and a $350.00 price target on the stock. Finally, Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $355.19.

Amgen Trading Down 0.5%

Shares of Amgen stock traded down $1.50 during trading hours on Wednesday, hitting $329.25. The company’s stock had a trading volume of 724,479 shares, compared to its average volume of 2,725,798. The stock has a market cap of $177.69 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 3.26 and a beta of 0.44. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. Amgen has a twelve month low of $267.83 and a twelve month high of $391.29. The firm has a fifty day moving average of $347.53 and a 200-day moving average of $343.86.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.77 by $0.38. The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts forecast that Amgen will post 22.37 EPS for the current year.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the sale, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Amgen

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC lifted its position in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Amgen by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock valued at $331,000 after buying an additional 114 shares in the last quarter. Schnieders Capital Management LLC. lifted its holdings in Amgen by 29.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company’s stock worth $7,220,000 after buying an additional 5,853 shares during the last quarter. Main Street Financial Solutions LLC lifted its holdings in Amgen by 11.3% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company’s stock worth $1,141,000 after buying an additional 416 shares during the last quarter. Finally, Ieq Capital LLC boosted its position in shares of Amgen by 5.1% during the 2nd quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company’s stock worth $15,120,000 after acquiring an additional 2,611 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

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.