Amgen (NASDAQ:AMGN) Coverage Initiated at Barclays

Barclays assumed coverage on shares of Amgen (NASDAQ:AMGN) in a research note issued on Friday,Benzinga reports. The firm set an “equal weight” rating and a $350.00 price target on the medical research company’s stock. Barclays‘s price target points to a potential downside of 6.09% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Piper Sandler upped their price target on Amgen from $381.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday. Oppenheimer set a $400.00 price objective on Amgen and gave the stock an “outperform” rating in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amgen in a research note on Monday, December 29th. The Goldman Sachs Group lifted their price target on shares of Amgen from $403.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Finally, Sanford C. Bernstein lowered shares of Amgen from an “outperform” rating to a “market perform” rating and set a $335.00 price objective on the stock. in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $351.76.

Amgen Price Performance

Shares of AMGN stock traded down $2.82 during trading hours on Friday, reaching $372.68. 247,811 shares of the company were exchanged, compared to its average volume of 2,825,944. Amgen has a fifty-two week low of $261.43 and a fifty-two week high of $385.12. The company has a debt-to-equity ratio of 5.78, a current ratio of 1.14 and a quick ratio of 0.90. The stock’s fifty day moving average is $342.07 and its two-hundred day moving average is $315.70. The company has a market cap of $200.90 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 3.89 and a beta of 0.46.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share for the quarter, beating analysts’ consensus estimates of $4.76 by $0.53. Amgen had a net margin of 20.98% and a return on equity of 148.37%. The business had revenue of $9.87 billion during the quarter, compared to analyst estimates of $9.46 billion. During the same quarter last year, the business posted $5.31 earnings per share. Amgen’s revenue for the quarter was up 8.6% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. Sell-side analysts forecast that Amgen will post 20.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amgen

A number of hedge funds and other institutional investors have recently made changes to their positions in AMGN. Dogwood Wealth Management LLC grew its stake in Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 55 shares during the period. Anfield Capital Management LLC lifted its holdings in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Amgen in the 4th quarter valued at approximately $26,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the 2nd quarter worth approximately $27,000. Finally, Manning & Napier Advisors LLC raised its holdings in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after buying an additional 32 shares during the period. 76.50% of the stock is 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.