Amgen (NASDAQ:AMGN) Price Target Raised to $319.00

Amgen (NASDAQ:AMGN) had its price target lifted by Truist Financial from $318.00 to $319.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a hold rating on the medical research company’s stock.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company upped their target price on Amgen from $300.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Daiwa Capital Markets lifted their price objective on shares of Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Erste Group Bank upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. HSBC reissued a “buy” rating and set a $425.00 target price on shares of Amgen in a report on Wednesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $338.55.

Amgen Price Performance

Shares of AMGN stock opened at $326.10 on Thursday. Amgen has a fifty-two week low of $260.55 and a fifty-two week high of $346.38. The firm has a market capitalization of $175.60 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.97 and a beta of 0.45. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The stock’s 50-day simple moving average is $329.75 and its 200-day simple moving average is $304.49.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating the consensus estimate of $5.01 by $0.63. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. Amgen’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the firm posted $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities analysts forecast that Amgen will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be given a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. Amgen’s payout ratio is currently 73.57%.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the sale, the senior vice president directly owned 7,225 shares in the company, valued at $2,436,703.50. This trade represents a 30.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the transaction, the executive vice president directly owned 41,923 shares of the company’s stock, valued at $14,120,924.09. The trade was a 14.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 10,908 shares of company stock worth $3,674,966 in the last ninety days. Company insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Amgen

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Board of the Pension Protection Fund purchased a new stake in shares of Amgen during the fourth quarter worth about $26,000. Legacy Investment Solutions LLC acquired a new stake in Amgen in the 2nd quarter worth about $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after buying an additional 85 shares during the last quarter. Evelyn Partners Investment Management LLP purchased a new stake in Amgen during the 2nd quarter worth approximately $32,000. Finally, Howard Hughes Medical Institute acquired a new position in shares of Amgen during the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: UBS upgraded Amgen (AMGN) to a “strong-buy,” a direct bullish analyst signal that can support the stock. UBS upgrade: Amgen to strong-buy
• Positive Sentiment: Amgen struck an exclusive deal with Disco/Disco Pharma tied to a cancer target (deal worth up to $618M), which strengthens Amgen’s oncology pipeline and future revenue optionality. Amgen Disco oncology pact
• Positive Sentiment: Amgen completed a Phase 1b blinatumomab study in Japan, advancing its leukemia strategy — a clinical progress update that can de-risk a program and support long-term value. Blinatumomab study completed in Japan
• Neutral Sentiment: Truist nudged Amgen’s price target slightly higher (from $318 to $319) but kept a “hold” rating — a mild signal that doesn’t materially change sell-side sentiment. Truist raises AMGN price target to $319
• Neutral Sentiment: Citi reiterated a “hold” on Amgen, indicating continued analyst caution despite pipeline wins. Citi sticks to hold for Amgen
• Neutral Sentiment: Market/sector context: Amgen is tracking with the Nasdaq life-sciences segment and will be in focus at the JPMorgan Healthcare Conference, where peers typically reveal pipeline updates and M&A intent — a neutral-to-positive thematic tailwind depending on conference takeaways. AMGN aligns with Nasdaq life sciences
• Neutral Sentiment: Sector preview: CNBC notes JPMorgan Healthcare will drive pipeline/M&A headlines across big pharmas — Amgen may benefit if it announces high-impact deals. What to expect from pharma at JPM
• Negative Sentiment: Despite the positive deal and clinical updates, shares fell amid a broader market uptick and profit-taking; a Zacks note highlighted recent intraday weakness, reflecting short-term selling pressure. Amgen stock falls amid market uptick

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.