Amgen (NASDAQ:AMGN) Stock Gets Price Target Boost from Leerink Partners

Amgen (NASDAQ:AMGN) had its price objective increased by equities research analysts at Leerink Partners from $395.00 to $464.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the medical research company’s stock. Leerink Partners‘s target price indicates a potential upside of 0.78% from the company’s previous close.

AMGN has been the subject of several other reports. Jefferies Financial Group reissued a “hold” rating and issued a $410.00 price target on shares of Amgen in a report on Wednesday, September 23rd. TD Cowen lifted their target price on shares of Amgen from $452.00 to $531.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America boosted their price target on shares of Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group raised their price objective on shares of Amgen from $384.00 to $440.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Sanford C. Bernstein upped their target price on shares of Amgen from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price of $420.80.

Amgen Price Performance

Amgen stock traded up $0.14 during trading hours on Thursday, reaching $460.42. 2,579,312 shares of the stock were exchanged, compared to its average volume of 2,619,150. Amgen has a twelve month low of $312.39 and a twelve month high of $483.99. The company has a market cap of $248.92 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 3.41 and a beta of 0.43. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The stock has a 50 day moving average of $422.43 and a two-hundred day moving average of $378.19.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share for the quarter, topping the consensus estimate of $5.79 by $0.66. The company had revenue of $10.37 billion for the quarter, compared to analysts’ expectations of $10.07 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $5.64 earnings per share. Equities analysts expect that Amgen will post 23.33 EPS for the current fiscal year.

Insider Activity

In related news, SVP Rachna Khosla sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Altus USA Inc. increased its stake in shares of Amgen by 72.3% during the second quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company’s stock valued at $28,000 after buying an additional 34 shares during the period. Quest 10 Wealth Builders Inc. boosted its holdings in Amgen by 220.0% in the third quarter. Quest 10 Wealth Builders Inc. now owns 80 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 55 shares in the last quarter. Nvwm LLC increased its position in Amgen by 412.5% during the 3rd quarter. Nvwm LLC now owns 82 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 66 shares during the period. Security National Bank of Sioux City Iowa IA purchased a new position in Amgen during the 2nd quarter valued at $36,000. Finally, PFS Partners LLC lifted its position in shares of Amgen by 95.5% in the 3rd quarter. PFS Partners LLC now owns 86 shares of the medical research company’s stock worth $36,000 after purchasing an additional 42 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported quarterly earnings and revenue above expectations, with revenue up 8.5% year over year. Its earnings-call discussion also emphasized growth and pipeline momentum, supporting the case for continued expansion. Amgen Earnings Call Highlights Growth, Pipeline Momentum
• Positive Sentiment: A large real-world study found Repatha lowered heart-attack risk by 20% versus ezetimibe in patients with heart disease. The findings could strengthen the drug’s clinical and commercial position. Repatha real-world study
• Positive Sentiment: Scotiabank reiterated a Buy view and set a $530 price target; UBS also maintains a Buy rating with a $530 target. Separately, ETFs bought a net $79.8 million of AMGN shares in Wednesday’s session. Scotiabank price target ETF holdings
• Neutral Sentiment: Analyst opinions remain divided: Leerink Partners and Guggenheim have Hold/neutral ratings, while Scotiabank and UBS are more optimistic. The differing views suggest debate about how much of Amgen’s recent gains are already reflected in its valuation. Leerink Partners rating
• Negative Sentiment: Freedom Broker downgraded Amgen to Hold, adding to the cautious analyst commentary and potentially tempering enthusiasm after the recent rally. Freedom Broker downgrade

About Amgen

Amgen is a biotechnology company that discovers, develops, manufactures and commercializes medicines for serious illnesses. Its research and product portfolio span areas including cancer, cardiovascular disease, inflammation, bone health and rare diseases.

The company’s medicines include Enbrel, Prolia, Xgeva and Repatha. Amgen serves patients and healthcare providers in the United States and markets its products internationally.

Founded in 1980 and headquartered in Thousand Oaks, California, Amgen is led by Robert A.