Amgen (NASDAQ:AMGN) Given New $530.00 Price Target at UBS Group

Amgen (NASDAQ:AMGN) had its price objective upped by UBS Group from $470.00 to $530.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. UBS Group‘s target price points to a potential upside of 10.77% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Mizuho raised their target price on Amgen from $303.00 to $352.00 and gave the company a “neutral” rating in a research note on Tuesday, August 18th. BMO Capital Markets lowered their price target on shares of Amgen from $450.00 to $415.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. Wells Fargo & Company increased their price objective on shares of Amgen from $430.00 to $460.00 and gave the stock an “equal weight” rating in a report on Wednesday. Guggenheim cut their price objective on shares of Amgen from $388.00 to $378.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Finally, Cantor Fitzgerald lifted their price objective on shares of Amgen from $440.00 to $465.00 and gave the company a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $413.38.

Amgen Stock Performance

Shares of Amgen stock traded up $17.22 on Wednesday, reaching $478.48. 4,618,234 shares of the company were exchanged, compared to its average volume of 2,758,517. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. The company’s 50-day moving average is $420.83 and its two-hundred day moving average is $376.16. The firm has a market cap of $258.68 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 3.41 and a beta of 0.43. Amgen has a 1-year low of $302.13 and a 1-year high of $482.48.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.79 by $0.66. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The business had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter last year, the business posted $5.64 EPS. The business’s revenue was up 8.5% on a year-over-year basis. As a group, research analysts expect that Amgen will post 22.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy Grygiel sold 2,970 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the transaction, the senior vice president directly owned 7,340 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the sale, the senior vice president owned 6,404 shares in the company, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 6,222 shares of company stock valued at $2,540,926. Company insiders own 0.85% of the company’s stock.

Institutional Trading of Amgen

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Leuthold Group LLC raised its stake in shares of Amgen by 9.2% in the 3rd quarter. Leuthold Group LLC now owns 22,409 shares of the medical research company’s stock worth $9,446,000 after buying an additional 1,897 shares in the last quarter. Fulcrum Asset Management LLP lifted its holdings in shares of Amgen by 65.5% in the third quarter. Fulcrum Asset Management LLP now owns 4,428 shares of the medical research company’s stock valued at $1,876,000 after buying an additional 1,752 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Amgen by 16.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 112,799 shares of the medical research company’s stock valued at $45,940,000 after buying an additional 16,327 shares in the last quarter. Beverly Hills Private Wealth LLC boosted its stake in Amgen by 2.6% during the third quarter. Beverly Hills Private Wealth LLC now owns 2,399 shares of the medical research company’s stock valued at $1,011,000 after buying an additional 60 shares in the last quarter. Finally, Almanack Investment Partners LLC. boosted its stake in Amgen by 7.5% during the third quarter. Almanack Investment Partners LLC. now owns 2,553 shares of the medical research company’s stock valued at $1,076,000 after buying an additional 178 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported adjusted Q3 EPS of $6.45 and revenue of $10.37 billion, both ahead of analyst expectations, with revenue up 8.5% year over year. The company also raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and its GAAP EPS outlook to $18.34–$19.28. Amgen Q3 financial results
• Positive Sentiment: Investors also saw support in growth medicines and pipeline prospects: Repatha and IMDELLTRA helped offset declines elsewhere, while the company highlighted progress for IMDELLTRA and potential longer-term opportunity from MariTide. Amgen outlook and product growth
• Positive Sentiment: Several firms lifted price targets, including Goldman Sachs to $536 and Scotiabank to $530; William Blair reaffirmed its Outperform rating. Scotiabank price target
• Negative Sentiment: Biosimilar competition is weighing on Prolia and Xgeva, and declines in those products remain a risk even as growth brands expand. Some analysts also remain cautious: price targets from firms including JPMorgan and Citigroup were below the prevailing share price, while Bank of America maintained a Sell rating. Q3 pipeline and outlook analysis

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.