Weekly Investment Analysts’ Ratings Updates for Amgen (AMGN)

Several analysts have recently updated their ratings and price targets for Amgen (NASDAQ: AMGN):

• 11/12/2024 – Amgen had its “outperform” rating reaffirmed by analysts at William Blair.
• 11/12/2024 – Amgen had its “buy” rating reaffirmed by analysts at Jefferies Financial Group Inc.. They now have a $380.00 price target on the stock.
• 11/1/2024 – Amgen was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 10/31/2024 – Amgen had its price target lowered by analysts at UBS Group AG from $335.00 to $326.00. They now have a “neutral” rating on the stock.
• 10/22/2024 – Amgen had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $405.00 price target on the stock.
• 10/21/2024 – Amgen had its price target raised by analysts at TD Cowen from $381.00 to $383.00. They now have a “buy” rating on the stock.
• 10/17/2024 – Amgen is now covered by analysts at Sanford C. Bernstein. They set an “outperform” rating and a $380.00 price target on the stock.
• 10/14/2024 – Amgen was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating. They now have a $333.00 price target on the stock, up previously from $320.00.
• 10/7/2024 – Amgen had its price target raised by analysts at Barclays PLC from $300.00 to $315.00. They now have an “equal weight” rating on the stock.
• 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.

Amgen Stock Performance

Amgen stock traded up $4.12 during mid-day trading on Wednesday, reaching $302.96. The company’s stock had a trading volume of 2,118,427 shares, compared to its average volume of 2,428,286. The firm has a market cap of $162.85 billion, a price-to-earnings ratio of 38.79, a PEG ratio of 2.67 and a beta of 0.60. The business has a 50 day moving average price of $322.74 and a 200-day moving average price of $318.27. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during 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 revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.96 earnings per share. Sell-side analysts predict that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Institutional Investors Weigh In On Amgen

Institutional investors have recently bought and sold shares of the stock. Capital International Investors raised its position in Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares in the last quarter. Pathway Financial Advisers LLC raised its position in Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. Vanguard Group Inc. raised its position in Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after acquiring an additional 3,045,657 shares in the last quarter. International Assets Investment Management LLC raised its position in Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after acquiring an additional 2,486,882 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after acquiring an additional 1,377,007 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.