Amgen (NASDAQ:AMGN) Stock Jumps 3% Following Analyst Upgrade

Amgen Inc. (NASDAQ:AMGN)’s share price traded up 3% on Wednesday after Truist Financial raised their price target on the stock from $362.00 to $380.00. Truist Financial currently has a hold rating on the stock. Amgen traded as high as $413.85 and last traded at $414.6480. Approximately 278,860 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 2,747,744 shares. The stock had previously closed at $402.60.

Other analysts also recently issued research reports about the stock. Royal Bank Of Canada upped their price target on shares of Amgen from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $410.00 target price on shares of Amgen in a report on Wednesday, September 23rd. Citigroup raised their price target on Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Piper Sandler upped their price objective on Amgen from $427.00 to $457.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Finally, Scotiabank increased their price objective on Amgen from $450.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, September 28th. One research 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $385.79.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,252 shares of Amgen stock in a transaction on Thursday, August 13th. The stock was 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 approximately $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Nancy Grygiel sold 2,970 shares of the company’s 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 completion of the sale, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,222 shares of company stock valued at $2,540,926. Insiders own 0.85% of the company’s stock.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported that its AMG 513 obesity-drug study completed Phase 1. The milestone provides an additional potential growth opportunity in the competitive weight-loss market, although clinical efficacy and safety data remain important next steps. Amgen AMG 513 obesity trial article
• Positive Sentiment: Scotiabank raised its price target for Amgen from $450 to $500, signaling greater confidence in the company’s upside potential and supporting sentiment around the stock. Scotiabank raises Amgen price target
• Neutral Sentiment: Truist raised its target from $362 to $380 but maintained a Hold rating. The revised target remains below the recent trading level, limiting the bullish impact of the increase.
• Neutral Sentiment: Cantor Fitzgerald reiterated a Neutral rating, while another report cited a $400 target. These views suggest analysts see limited near-term upside after Amgen’s strong run. Cantor Fitzgerald Amgen rating
• Neutral Sentiment: Amgen has become a heavily watched or “trending” stock on Zacks, which may increase trading attention but does not represent a fundamental change in the company’s outlook. Zacks Amgen trending stock article
• Negative Sentiment: Morgan Stanley lowered its target from $362 to $359 and retained an Equal Weight rating. The target implies substantial downside from current levels, reinforcing concerns that expectations and valuation may be elevated. Morgan Stanley Amgen price target report

Institutional Trading of Amgen

Several institutional investors and hedge funds have recently modified their holdings of the business. Nautilus Advisors LLC increased its stake in shares of 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 purchasing an additional 48 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Amgen by 3.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 1,474 shares of the medical research company’s stock worth $621,000 after purchasing an additional 55 shares during the last quarter. Park National Corp OH lifted its stake in 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 buying an additional 179 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its stake in Amgen by 4.8% in 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 buying an additional 11,950 shares in the last quarter. Finally, Eastern Bank raised its stake in Amgen by 1.7% in the 3rd quarter. Eastern Bank now owns 4,525 shares of the medical research company’s stock valued at $1,907,000 after purchasing an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

The company has a market capitalization of $223.87 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41. The stock’s fifty day simple moving average is $411.44 and its 200-day simple moving average is $371.01. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37.

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

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 21st were issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, August 21st. Amgen’s payout ratio is presently 62.65%.

Amgen Company Profile

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.