Amgen (NASDAQ:AMGN) Price Target Raised to $390.00 at Wells Fargo & Company

Amgen (NASDAQ:AMGN) had its price target upped by research analysts at Wells Fargo & Company from $375.00 to $390.00 in a research report issued on Thursday,MarketScreener reports. The brokerage currently has an “equal weight” rating on the medical research company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 10.96% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Amgen from $304.00 to $309.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. BMO Capital Markets raised their target price on shares of Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Citigroup lifted their price target on shares of Amgen from $315.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Sanford C. Bernstein lowered Amgen from an “outperform” rating to a “market perform” rating and set a $335.00 price objective for the company. in a report on Tuesday, January 20th. Finally, Truist Financial boosted their target price on Amgen from $318.00 to $319.00 and gave the stock a “hold” rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $354.60.

Amgen Trading Down 2.7%

Shares of NASDAQ AMGN opened at $351.48 on Thursday. Amgen has a 1-year low of $261.43 and a 1-year high of $391.29. The business has a fifty day moving average price of $359.46 and a 200 day moving average price of $326.94. The stock has a market capitalization of $189.47 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 3.58 and a beta of 0.45. The company has a debt-to-equity ratio of 5.78, a current ratio of 1.14 and a quick ratio of 0.90.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.76 by $0.53. The company had revenue of $9.87 billion for the quarter, compared to analyst estimates of $9.46 billion. Amgen had a return on equity of 148.37% and a net margin of 20.98%.The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.31 earnings per share. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. Equities research analysts expect that Amgen will post 20.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Amgen

A number of large investors have recently made changes to their positions in AMGN. Anfield Capital Management LLC lifted its position in Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after acquiring an additional 70 shares during the period. Dogwood Wealth Management LLC increased its holdings in shares of Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 55 shares during the period. Board of the Pension Protection Fund purchased a new position in shares of Amgen in the fourth quarter worth about $26,000. Evelyn Partners Investment Management LLP purchased a new position in Amgen during the 2nd quarter worth approximately $32,000. Finally, Howard Hughes Medical Institute acquired a new stake in Amgen during the 2nd quarter valued at approximately $32,000. 76.50% of the stock is owned by hedge funds and other 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.