Amgen (NASDAQ:AMGN) Sets New 12-Month High – Here’s What Happened

Shares of Amgen Inc. (NASDAQ:AMGN) reached a new 52-week high on Thursday. The company traded as high as $447.37 and last traded at $446.2170, with a volume of 418,349 shares. The stock had previously closed at $438.34.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Analyst remains bullish: Piper Sandler maintained its Buy rating and a $457 price target, implying continued confidence in Amgen’s earnings outlook, cash generation and pipeline. Piper Sandler Keeps Buy Rating on Amgen
• Positive Sentiment: Pipeline progress provides a potential catalyst: Amgen’s bemarituzumab study in gastric cancer has reached the Phase 3 finish line. While the report does not provide final efficacy or regulatory results, completion of the trial could eventually support a new oncology growth opportunity. Amgen Bemarituzumab Trial Update
• Neutral Sentiment: Tezspire update offers limited immediate clarity: Amgen reported results for Tezspire, but the available headline does not specify the clinical findings or their commercial implications. Investors will need additional detail to assess the impact on sales expectations. Amgen Reports Tezspire Results
• Negative Sentiment: Patent-cliff and dividend concerns are resurfacing: Coverage questions whether Amgen can protect its dividend when major products lose patent protection. The issue may weigh on the stock because investors are evaluating whether future cash flow can support both shareholder returns and replacement growth. Amgen Dividend and Patent Cliff Risks

Analyst Ratings Changes

Several equities analysts have commented on the company. Mizuho upped their price target on Amgen from $303.00 to $352.00 and gave the company a “neutral” rating in a report on Tuesday, August 18th. Cantor Fitzgerald boosted their price objective on Amgen from $400.00 to $440.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. BMO Capital Markets cut their target price on Amgen from $450.00 to $415.00 and set a “market perform” rating for the company in a research note on Monday, October 12th. Truist Financial raised their target price on Amgen from $362.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday, October 7th. Finally, Sanford C. Bernstein lifted their price target on shares of Amgen from $335.00 to $345.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. 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 given a Sell rating to the company’s stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus price target of $389.71.

Amgen Stock Down 1.8%

The company has a market capitalization of $237.48 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 3.28 and a beta of 0.41. The business has a fifty day simple moving average of $417.70 and a two-hundred day simple moving average of $377.83. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were given a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, August 21st. Amgen’s dividend payout ratio is 62.65%.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the transaction, the senior vice president directly owned 6,404 shares in the company, valued at $2,642,098.28. This represents a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Nancy Grygiel sold 2,970 shares of Amgen stock in a transaction on 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 transaction, the senior vice president directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 6,222 shares of company stock valued at $2,540,926 over the last quarter. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of Amgen

Several large investors have recently added to or reduced their stakes in the company. Wellington Altus USA Inc. boosted its stake 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 acquiring an additional 34 shares during the last quarter. Tower View Wealth Management LLC increased its stake in Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. Nvwm LLC raised its holdings in Amgen by 412.5% in the third quarter. Nvwm LLC now owns 82 shares of the medical research company’s stock worth $35,000 after purchasing an additional 66 shares during the period. PFS Partners LLC raised its holdings in Amgen by 95.5% in the third quarter. PFS Partners LLC now owns 86 shares of the medical research company’s stock worth $36,000 after purchasing an additional 42 shares during the period. Finally, Security National Bank of Sioux City Iowa IA bought a new position in shares of Amgen during the second quarter worth $36,000. 76.50% of the stock is owned by institutional investors.

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.