Amgen (NASDAQ:AMGN) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Amgen (NASDAQ:AMGN) had its price objective increased by equities researchers at Royal Bank Of Canada from $360.00 to $370.00 in a research report issued on Tuesday,MarketScreener reports. The firm presently has an “outperform” rating on the medical research company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 9.36% from the stock’s current price.

Several other analysts have also weighed in on the company. Freedom Capital lowered Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Oppenheimer set a $400.00 price objective on Amgen and gave the company an “outperform” rating in a research report on Thursday, January 29th. TD Cowen reaffirmed a “buy” rating on shares of Amgen in a research report on Wednesday, February 4th. Rothschild & Co Redburn increased their price target on Amgen from $180.00 to $200.00 and gave the stock a “sell” rating in a research report on Wednesday, February 18th. Finally, The Goldman Sachs Group increased their price target on Amgen from $403.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $355.00.

Amgen Trading Down 1.2%

Amgen stock opened at $338.33 on Tuesday. The business has a 50-day simple moving average of $363.51 and a two-hundred day simple moving average of $333.65. The company has a market cap of $182.39 billion, a P/E ratio of 23.74, a P/E/G ratio of 3.45 and a beta of 0.47. Amgen has a 52-week low of $261.43 and a 52-week high of $391.29. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 5.78.

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

Institutional Investors Weigh In On Amgen

Several institutional investors have recently added to or reduced their stakes in AMGN. Norges Bank purchased a new position in Amgen during the fourth quarter valued at approximately $2,164,162,000. Capital World Investors increased its position in shares of Amgen by 22.9% in the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after buying an additional 4,302,237 shares in the last quarter. State Street Corp increased its position in shares of Amgen by 4.4% in the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock valued at $10,012,872,000 after buying an additional 1,287,310 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Amgen by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after buying an additional 1,035,779 shares in the last quarter. Finally, Amundi boosted its stake in shares of Amgen by 41.1% in the fourth quarter. Amundi now owns 3,396,945 shares of the medical research company’s stock worth $1,111,854,000 after acquiring an additional 988,856 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Company Profile

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.