Q4 Earnings Forecast for Amgen Issued By Leerink Partnrs

Amgen Inc. (NASDAQ:AMGN) – Stock analysts at Leerink Partnrs cut their Q4 2024 EPS estimates for shares of Amgen in a research note issued to investors on Wednesday, November 27th. Leerink Partnrs analyst D. Risinger now forecasts that the medical research company will post earnings per share of $4.97 for the quarter, down from their prior forecast of $5.01. The consensus estimate for Amgen’s current full-year earnings is $19.52 per share. Leerink Partnrs also issued estimates for Amgen’s FY2025 earnings at $20.33 EPS and FY2028 earnings at $19.41 EPS.

A number of other equities analysts also recently issued reports on AMGN. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Thursday. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and raised their price objective for the stock from $320.00 to $333.00 in a report on Monday, October 14th. UBS Group dropped their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, TD Cowen raised their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $323.05.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $282.87 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The company has a market cap of $152.05 billion, a PE ratio of 36.22, a PEG ratio of 2.50 and a beta of 0.60. The firm’s 50-day moving average price is $311.37 and its 200-day moving average price is $317.14. Amgen has a 52-week low of $257.80 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.96 EPS.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Institutional Investors Weigh In On Amgen

Large investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new stake in Amgen in the third quarter worth $25,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the second quarter worth $30,000. Legacy Investment Solutions LLC bought a new stake in Amgen in the third quarter worth $29,000. nVerses Capital LLC bought a new stake in Amgen in the second quarter worth $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in Amgen in the second quarter worth $33,000. Institutional investors own 76.50% of the company’s stock.

About Amgen

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.