Amgen (NASDAQ:AMGN) Given New $390.00 Price Target at Daiwa Securities Group

Amgen (NASDAQ:AMGN) had its target price cut by equities researchers at Daiwa Securities Group from $410.00 to $390.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Daiwa Securities Group’s price target indicates a potential upside of 17.62% from the stock’s previous close.

Other research analysts have also issued reports about the company. Barclays initiated coverage on Amgen in a report on Friday, February 20th. They set an “equal weight” rating and a $350.00 target price on the stock. Wells Fargo & Company raised their price target on Amgen from $375.00 to $390.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 19th. The Goldman Sachs Group lifted their price objective on Amgen from $415.00 to $425.00 and gave the company a “buy” rating in a report on Friday, May 1st. Rothschild & Co Redburn boosted their price objective on Amgen from $180.00 to $200.00 and gave the company a “sell” rating in a research report on Wednesday, February 18th. Finally, Leerink Partners reissued a “market perform” rating and set a $355.00 target price on shares of Amgen in a research note on Thursday, March 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $356.35.

Amgen Trading Down 1.4%

NASDAQ AMGN traded down $4.72 during trading on Wednesday, reaching $331.57. 320,247 shares of the stock traded hands, compared to its average volume of 2,731,923. Amgen has a fifty-two week low of $261.43 and a fifty-two week high of $391.29. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The firm has a market cap of $178.94 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 3.31 and a beta of 0.44. The stock’s 50-day moving average price is $352.03 and its 200 day moving average price is $342.49.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same period last year, the business posted $4.90 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Analysts predict that Amgen will post 22.36 EPS for the current year.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the sale, the senior vice president owned 7,009 shares of the company’s stock, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Amgen

A number of large investors have recently bought and sold shares of the company. Dogwood Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 55 shares during the last quarter. Anfield Capital Management LLC boosted its holdings in Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after purchasing an additional 70 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in Amgen during the fourth quarter worth $26,000. Tower View Wealth Management LLC grew its position 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. Finally, Manning & Napier Advisors LLC increased its stake in Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

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.