Amgen (NASDAQ:AMGN) Stock Price Expected to Rise, Barclays Analyst Says

Amgen (NASDAQ:AMGN) had its price target hoisted by stock analysts at Barclays from $350.00 to $360.00 in a research report issued on Wednesday, Marketbeat.com reports. The brokerage currently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price target suggests a potential downside of 8.42% from the stock’s previous close.

Several other equities analysts also recently weighed in on AMGN. UBS Group increased their target price on Amgen from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. BMO Capital Markets reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Amgen in a research note on Wednesday, July 1st. Guggenheim upped their price target on shares of Amgen from $340.00 to $343.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Argus cut their price target on shares of Amgen from $400.00 to $375.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Finally, Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price of $357.00.

Amgen Price Performance

Amgen stock opened at $393.10 on Wednesday. The stock has a market capitalization of $212.16 billion, a P/E ratio of 27.36, a P/E/G ratio of 3.81 and a beta of 0.41. Amgen has a 12-month low of $269.77 and a 12-month high of $398.00. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The firm’s 50-day moving average is $353.56 and its two-hundred day moving average is $352.71.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the previous year, the business posted $4.90 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities analysts predict that Amgen will post 22.31 earnings per share for the current year.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the transaction, the senior vice president owned 7,009 shares of the company’s stock, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Amgen during the fourth quarter worth approximately $2,164,162,000. Capital World Investors raised its holdings in Amgen by 22.9% in the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after acquiring an additional 4,302,237 shares in the last quarter. State Street Corp boosted its stake in Amgen by 4.4% during the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock valued at $10,012,872,000 after acquiring an additional 1,287,310 shares during the last quarter. Geode Capital Management LLC boosted its stake in Amgen by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after acquiring an additional 1,035,779 shares during the last quarter. Finally, Amundi grew its holdings in Amgen by 41.1% during the 4th quarter. Amundi now owns 3,396,945 shares of the medical research company’s stock worth $1,111,854,000 after acquiring an additional 988,856 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

About Amgen

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.