Amgen (NASDAQ:AMGN) Price Target Raised to $400.00 at Cantor Fitzgerald

Amgen (NASDAQ:AMGN) had its price objective raised by research analysts at Cantor Fitzgerald from $350.00 to $400.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Cantor Fitzgerald’s price target suggests a potential downside of 4.62% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Mizuho raised their price objective on shares of Amgen from $303.00 to $352.00 and gave the company a “neutral” rating in a research report on Tuesday. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Scotiabank raised their price target on shares of Amgen from $385.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Truist Financial lifted their price objective on shares of Amgen from $340.00 to $362.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Finally, Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average target price of $375.93.

Amgen Trading Up 1.0%

NASDAQ AMGN opened at $419.38 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. Amgen has a 1-year low of $269.77 and a 1-year high of $421.79. The firm’s fifty day simple moving average is $372.05 and its 200-day simple moving average is $359.47. The company has a market capitalization of $226.73 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 3.86 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.62 by $0.67. The firm had revenue of $10.05 billion during the quarter, compared to analysts’ expectations of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, sell-side analysts anticipate that Amgen will post 22.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the transaction, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 6,222 shares of company stock worth $2,540,926. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Amgen

A number of hedge funds have recently bought and sold shares of AMGN. Adell Harriman & Carpenter Inc. lifted its holdings in shares of Amgen by 7.9% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company’s stock worth $7,204,000 after acquiring an additional 1,609 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Amgen in the fourth quarter valued at about $22,441,000. Sigma Planning Corp increased its stake in Amgen by 24.0% in the fourth quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company’s stock valued at $5,889,000 after acquiring an additional 3,488 shares during the period. National Pension Service raised its position in Amgen by 4.7% in the fourth quarter. National Pension Service now owns 1,239,549 shares of the medical research company’s stock worth $405,717,000 after purchasing an additional 55,489 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its position in Amgen by 50.5% in the first quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company’s stock worth $6,664,000 after purchasing an additional 6,356 shares in the last quarter. 76.50% of the stock is currently owned by 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.