Amgen (NASDAQ:AMGN) Stock Gets Price Target Reduction from Morgan Stanley

Amgen (NASDAQ:AMGN) had its price target reduced by Morgan Stanley from $362.00 to $359.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the medical research company’s stock.

A number of other equities analysts also recently commented on the stock. Weiss Ratings upgraded shares of Amgen from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Royal Bank Of Canada lifted their target price on shares of Amgen from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. BMO Capital Markets lowered shares of Amgen from an “outperform” rating to a “market perform” rating and set a $450.00 price target on the stock. in a research note on Tuesday, September 8th. Sanford C. Bernstein increased their price target on shares of Amgen from $335.00 to $345.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Finally, UBS Group restated a “buy” rating and issued a $430.00 price objective on shares of Amgen in a research report on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $389.71.

Amgen Trading Up 1.8%

NASDAQ:AMGN opened at $414.87 on Wednesday. Amgen has a 12-month low of $288.00 and a 12-month high of $447.03. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The stock’s 50 day simple moving average is $412.94 and its 200-day simple moving average is $372.18. The firm has a market cap of $224.29 billion, a P/E ratio of 25.78, a PEG ratio of 2.94 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The firm had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. During the same period last year, the company earned $6.02 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities analysts anticipate that Amgen will post 22.94 EPS for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, August 21st. Amgen’s payout ratio is presently 62.65%.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the sale, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rachna Khosla sold 1,252 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,666,817.72. This represents a 16.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,222 shares of company stock worth $2,540,926 over the last 90 days. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMGN. Rational Advisors Inc. grew its holdings in Amgen by 13.7% during the 2nd quarter. Rational Advisors Inc. now owns 199 shares of the medical research company’s stock worth $72,000 after acquiring an additional 24 shares in the last quarter. Beacon Financial Advisory LLC raised its stake in shares of Amgen by 2.0% in the 2nd quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company’s stock valued at $461,000 after purchasing an additional 25 shares in the last quarter. Legacy Financial Advisors Inc. lifted its position in shares of Amgen by 0.8% during the second quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company’s stock worth $1,234,000 after purchasing an additional 26 shares during the last quarter. Roman Butler Fullerton & Co. lifted its position in shares of Amgen by 1.4% during the second quarter. Roman Butler Fullerton & Co. now owns 1,956 shares of the medical research company’s stock worth $705,000 after purchasing an additional 27 shares during the last quarter. Finally, Round Rock Advisors LLC grew its stake in Amgen by 2.9% in the second quarter. Round Rock Advisors LLC now owns 1,003 shares of the medical research company’s stock worth $363,000 after purchasing an additional 28 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: UBS upgraded Amgen to Buy and raised its price target to $470 from $430, implying further upside from the reported $414.87 share price. The upgrade is the clearest near-term catalyst behind the stock’s strength. Benzinga analyst upgrade report
• Positive Sentiment: Amgen announced a head-to-head Phase 3 trial for its monthly diabetes drug candidate against semaglutide. Success could strengthen the company’s position in the highly competitive GLP-1 market and provide a significant future growth opportunity, although clinical and commercial risks remain. Amgen monthly diabetes trial article
• Positive Sentiment: Cantor Fitzgerald raised its Amgen price target to $440 from $400, signaling improved expectations despite maintaining a Hold rating. Cantor Fitzgerald price target report

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen’s portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.