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

Amgen (NASDAQ:AMGN) had its target price increased by Truist Financial from $362.00 to $380.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the medical research company’s stock. Truist Financial’s target price indicates a potential downside of 8.28% from the company’s previous close.

A number of other analysts also recently issued reports on AMGN. Morgan Stanley dropped their target price on shares of Amgen from $362.00 to $359.00 and set an “equal weight” rating for the company in a research report on Wednesday. Wells Fargo & Company increased their target price on Amgen from $400.00 to $435.00 and gave the company an “equal weight” rating in a research note on Friday, September 4th. Bank of America raised their target price on Amgen from $312.00 to $317.00 and gave the company an “underperform” rating in a report on Wednesday, August 5th. Sanford C. Bernstein upped their price target on Amgen from $335.00 to $345.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $410.00 target price on shares of Amgen in a research report on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $385.79.

Amgen Trading Up 2.9%

NASDAQ:AMGN traded up $11.71 during trading hours on Wednesday, reaching $414.31. 625,023 shares of the company were exchanged, compared to its average volume of 2,749,887. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. The firm has a market cap of $223.99 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.91 and a beta of 0.41. Amgen has a 52-week low of $288.00 and a 52-week high of $447.03. The stock has a 50 day simple moving average of $411.44 and a 200 day simple moving average of $371.01.

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

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,252 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the transaction, the senior vice president directly owned 6,404 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president directly owned 7,340 shares of the company’s stock, valued at $2,951,854.40. The trade was a 28.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 6,222 shares of company stock worth $2,540,926 over the last ninety days. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amgen

A number of hedge funds have recently bought and sold shares of AMGN. Nautilus Advisors LLC lifted its holdings in Amgen by 2.3% during the 3rd quarter. Nautilus Advisors LLC now owns 2,096 shares of the medical research company’s stock worth $884,000 after buying an additional 48 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Amgen by 3.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 1,474 shares of the medical research company’s stock valued at $621,000 after acquiring an additional 55 shares during the last quarter. Park National Corp OH increased its holdings in shares of Amgen by 7.9% in the 3rd quarter. Park National Corp OH now owns 2,442 shares of the medical research company’s stock valued at $1,029,000 after acquiring an additional 179 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its position in shares of Amgen by 4.8% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 259,022 shares of the medical research company’s stock valued at $103,614,000 after acquiring an additional 11,950 shares in the last quarter. Finally, Eastern Bank raised its position in shares of Amgen by 1.7% during the 3rd quarter. Eastern Bank now owns 4,525 shares of the medical research company’s stock valued at $1,907,000 after acquiring an additional 76 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

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.