Recent Research Analysts’ 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:

• 1/10/2025 – Amgen had its price target lowered by analysts at Wells Fargo & Company from $335.00 to $280.00. They now have an “equal weight” rating on the stock.
• 1/8/2025 – Amgen had its price target lowered by analysts at Truist Financial Co. from $333.00 to $298.00. They now have a “hold” rating on the stock.
• 1/2/2025 – Amgen had its price target lowered by analysts at Piper Sandler from $344.00 to $310.00. They now have an “overweight” rating on the stock.
• 1/2/2025 – Amgen had its “overweight” rating reaffirmed by analysts at Piper Sandler Companies. They now have a $310.00 price target on the stock.
• 12/18/2024 – Amgen was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 12/10/2024 – Amgen had its “underperform” rating reaffirmed by analysts at Bank of America Co.. They now have a $256.00 price target on the stock.
• 12/10/2024 – Amgen was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 11/28/2024 – Amgen was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 11/27/2024 – Amgen had its price target lowered by analysts at Royal Bank of Canada from $360.00 to $330.00. They now have an “outperform” rating on the stock.
• 11/27/2024 – Amgen had its price target lowered by analysts at Citigroup Inc. from $335.00 to $310.00.
• 11/27/2024 – Amgen had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $305.00 to $285.00.
• 11/27/2024 – Amgen had its price target lowered by analysts at Redburn Partners from $200.00 to $195.00.
• 11/27/2024 – Amgen had its price target lowered by analysts at Leerink Partners from $349.00 to $302.00.
• 11/15/2024 – Amgen is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.

Amgen Stock Down 1.2 %

NASDAQ:AMGN traded down $3.23 during trading hours on Tuesday, hitting $266.96. The stock had a trading volume of 1,633,115 shares, compared to its average volume of 2,908,625. The business has a 50 day simple moving average of $278.16 and a two-hundred day simple moving average of $308.35. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company has a market cap of $143.50 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.96 EPS. Analysts predict that Amgen Inc. will post 19.53 EPS for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.57%. Amgen’s payout ratio is currently 121.90%.

Institutional Trading of Amgen

Hedge funds have recently made changes to their positions in the stock. Swiss National Bank grew its holdings in Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after acquiring an additional 5,500 shares in the last quarter. Talbot Financial LLC grew its stake in Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after purchasing an additional 2,274 shares in the last quarter. Asset Advisors Investment Management LLC grew its stake in Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after purchasing an additional 2,954 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after buying an additional 35,785 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in Amgen by 3.2% during the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after buying an additional 1,872 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

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.