Research Analysts’ Weekly Ratings Changes for Amgen (AMGN)

Several brokerages have updated their recommendations and price targets on shares of Amgen (NASDAQ: AMGN) in the last few weeks:

• 9/27/2024 – Amgen is now covered by analysts at Cantor Fitzgerald. They set an “overweight” rating and a $405.00 price target on the stock.
• 9/26/2024 – Amgen had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $362.00 price target on the stock.
• 9/25/2024 – Amgen had its “underperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $215.00 price target on the stock.
• 9/16/2024 – Amgen was upgraded by analysts at Dbs Bank to a “strong-buy” rating.
• 8/7/2024 – Amgen had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $380.00 price target on the stock.
• 8/7/2024 – Amgen had its price target raised by analysts at Royal Bank of Canada from $332.00 to $362.00. They now have an “outperform” rating on the stock.
• 8/7/2024 – Amgen had its price target raised by analysts at Bank of America Co. from $325.00 to $330.00. They now have a “neutral” rating on the stock.
• 8/7/2024 – Amgen had its “hold” rating reaffirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $305.00 price target on the stock, down previously from $310.00.
• 8/7/2024 – Amgen was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating. They now have a $335.00 price target on the stock, up previously from $320.00.
• 8/7/2024 – Amgen had its price target raised by analysts at TD Cowen from $360.00 to $381.00. They now have a “buy” rating on the stock.
• 8/7/2024 – Amgen had its “buy” rating reaffirmed by analysts at Jefferies Financial Group Inc.. They now have a $380.00 price target on the stock, up previously from $375.00.

Amgen Trading Down 0.2 %

Shares of NASDAQ:AMGN opened at $319.73 on Thursday. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The stock has a market cap of $171.51 billion, a price-to-earnings ratio of 45.68, a PEG ratio of 2.98 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The business has a 50-day moving average price of $327.92 and a 200-day moving average price of $308.56.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the previous year, the business earned $5.00 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. Equities analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is 128.57%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Strategic Financial Concepts LLC purchased a new position in Amgen during the second quarter valued at approximately $26,000. Horizon Financial Services LLC purchased a new position in Amgen during the first quarter valued at approximately $28,000. Hershey Financial Advisers LLC purchased a new position in Amgen during the second quarter valued at approximately $30,000. nVerses Capital LLC purchased a new position in Amgen during the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in Amgen during the second quarter valued at approximately $33,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.