Morgan Stanley Has Lowered Expectations for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its target price reduced by equities research analysts at Morgan Stanley from $362.00 to $359.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the medical research company’s stock. Morgan Stanley’s target price suggests a potential downside of 13.11% from the stock’s previous close.

A number of other brokerages also recently commented on AMGN. BMO Capital Markets downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and set a $450.00 target price for the company. in a report on Tuesday, September 8th. TD Cowen lifted their price objective on shares of Amgen from $420.00 to $452.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Amgen in a research note on Monday. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Robert W. Baird upped their price target on Amgen from $215.00 to $230.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $385.14.

Amgen Stock Up 2.6%

Amgen stock traded up $10.56 during mid-day trading on Wednesday, reaching $413.16. 500,137 shares of the company were exchanged, compared to its average volume of 2,748,756. 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 firm has a market cap of $223.37 billion, a P/E ratio of 25.70, a PEG ratio of 2.91 and a beta of 0.41. The business has a fifty day moving average of $411.44 and a 200 day moving average of $371.01. Amgen has a 12-month low of $288.00 and a 12-month high of $447.03.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results 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 business had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The business’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Research analysts anticipate that Amgen will post 22.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Amgen

A number of institutional investors and hedge funds have recently modified their holdings of AMGN. Wellington Altus USA Inc. raised its position in Amgen by 72.3% during the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company’s stock worth $28,000 after buying an additional 34 shares during the last quarter. Tower View Wealth Management LLC raised its holdings in shares of Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after purchasing an additional 63 shares during the last quarter. Security National Bank of Sioux City Iowa IA acquired a new position in Amgen during the second quarter valued at $36,000. Evergreen Advisors LLC acquired a new position in Amgen during the first quarter valued at $37,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Amgen in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

About Amgen

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.