Amgen (NASDAQ:AMGN) Sets New 12-Month High – Time to Buy?

Amgen Inc. (NASDAQ:AMGN)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $395.15 and last traded at $393.7690, with a volume of 360618 shares trading hands. The stock had previously closed at $376.26.

Analysts Set New Price Targets

Several research analysts recently commented on AMGN shares. Weiss Ratings downgraded shares of Amgen from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 15th. Canaccord Genuity Group began 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. Daiwa Securities Group cut their price target on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Truist Financial boosted their price objective on shares of Amgen from $327.00 to $340.00 and gave the company a “hold” rating in a research report on Tuesday, July 7th. Finally, Argus lowered 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. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $356.62.

Amgen Stock Performance

The business has a fifty day moving average of $352.31 and a 200 day moving average of $352.35. The company has a market cap of $212.48 billion, a P/E ratio of 27.35, a P/E/G ratio of 3.80 and a beta of 0.41. 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 released its quarterly earnings results 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 net margin of 20.96% and a return on equity of 137.41%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities analysts predict that Amgen Inc. will post 22.31 EPS for the current year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction dated Monday, May 4th. The shares were 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 of the company’s stock, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Amgen

A number of institutional investors have recently bought and sold shares of the stock. Processus Wealth & Capital Management LLC boosted its position in shares of Amgen by 2.6% during the second quarter. Processus Wealth & Capital Management LLC now owns 11,001 shares of the medical research company’s stock valued at $3,984,000 after purchasing an additional 279 shares in the last quarter. Regent Peak Wealth Advisors LLC grew its stake in Amgen by 2.2% in the second quarter. Regent Peak Wealth Advisors LLC now owns 1,729 shares of the medical research company’s stock worth $626,000 after purchasing an additional 37 shares during the period. Hudson Value Partners LLC raised its holdings in Amgen by 4.2% in the second quarter. Hudson Value Partners LLC now owns 21,171 shares of the medical research company’s stock worth $7,667,000 after purchasing an additional 849 shares in the last quarter. Tema ETFs LLC lifted its position in Amgen by 14.5% during the second quarter. Tema ETFs LLC now owns 26,231 shares of the medical research company’s stock valued at $9,499,000 after buying an additional 3,326 shares during the period. Finally, West Branch Capital LLC lifted its position in Amgen by 8.3% during the second quarter. West Branch Capital LLC now owns 1,167 shares of the medical research company’s stock valued at $423,000 after buying an additional 89 shares during the period. 76.50% of the stock is owned by institutional investors.

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.