Cantor Fitzgerald Forecasts Strong Price Appreciation for Amgen (NASDAQ:AMGN) Stock

Amgen (NASDAQ:AMGN) had its target price increased by Cantor Fitzgerald from $350.00 to $400.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Cantor Fitzgerald’s price objective suggests a potential downside of 4.62% from the company’s current price.

Several other brokerages have also recently issued reports on AMGN. Truist Financial lifted their price objective on shares of Amgen from $340.00 to $362.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Robert W. Baird increased their target price on shares of Amgen from $215.00 to $230.00 and gave the company an “underperform” rating in a research note on Wednesday, August 5th. Oppenheimer raised their target price on shares of Amgen from $400.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Guggenheim lifted their price target on shares of Amgen from $343.00 to $388.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $375.93.

Amgen Trading Up 1.0%

Shares of Amgen stock opened at $419.38 on Tuesday. The business has a fifty day simple moving average of $372.05 and a 200-day simple moving average of $359.47. Amgen has a fifty-two week low of $269.77 and a fifty-two week high of $421.79. The firm has a market cap of $226.73 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 3.86 and a beta of 0.41. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The firm had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same period in the previous year, the company earned $6.02 earnings per share. Amgen’s revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities analysts forecast that Amgen will post 22.78 EPS for the current fiscal year.

Insider Activity

In other news, SVP Rachna Khosla sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the sale, the senior vice president owned 6,404 shares in the company, valued at $2,642,098.28. The trade was a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were 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 owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 6,222 shares of company stock valued at $2,540,926. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of Amgen

Several large investors have recently added to or reduced their stakes in the company. Anfield Capital Management LLC raised its position 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 valued at $25,000 after buying an additional 70 shares during the period. Dogwood Wealth Management LLC boosted its position in Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after acquiring an additional 55 shares during the period. Tower View Wealth Management LLC grew its stake in Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 63 shares in the last quarter. Manning & Napier Advisors LLC grew its stake in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 32 shares in the last quarter. Finally, Ares Financial Consulting LLC acquired a new position in shares of Amgen in the 4th quarter valued at about $34,000. 76.50% of the stock is owned by institutional investors and hedge funds.

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.