FY2028 Earnings Forecast for Amgen Inc. (NASDAQ:AMGN) Issued By Leerink Partnrs

Amgen Inc. (NASDAQ:AMGNFree Report) – Equities researchers at Leerink Partnrs issued their FY2028 earnings estimates for Amgen in a research report issued to clients and investors on Wednesday, February 7th. Leerink Partnrs analyst D. Risinger forecasts that the medical research company will post earnings of $20.92 per share for the year. Leerink Partnrs has a “Market Perform” rating on the stock. The consensus estimate for Amgen’s current full-year earnings is $19.68 per share.

Amgen (NASDAQ:AMGNGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.66 by $0.05. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. Amgen’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.09 earnings per share.

A number of other equities analysts have also recently weighed in on the company. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 target price on shares of Amgen in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Amgen in a research note on Thursday, November 9th. They set a “hold” rating and a $240.00 target price on the stock. Argus lifted their target price on Amgen from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, October 17th. Finally, Daiwa Capital Markets raised Amgen from a “neutral” rating to a “buy” rating and lifted their target price for the company from $264.00 to $320.00 in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $295.30.

Get Our Latest Analysis on AMGN

Amgen Trading Down 1.3 %

Shares of AMGN opened at $291.12 on Thursday. The business’s 50-day moving average price is $295.30 and its 200 day moving average price is $274.19. The stock has a market capitalization of $155.80 billion, a P/E ratio of 23.31, a P/E/G ratio of 2.67 and a beta of 0.62. Amgen has a 1-year low of $211.71 and a 1-year high of $329.72. The company has a current ratio of 1.65, a quick ratio of 2.56 and a debt-to-equity ratio of 10.14.

Institutional Trading of Amgen

A number of large investors have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. grew its position in Amgen by 1.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 381,262 shares of the medical research company’s stock valued at $109,811,000 after acquiring an additional 5,125 shares during the period. Nixon Peabody Trust Co. bought a new stake in Amgen in the fourth quarter valued at $447,000. Skopos Labs Inc. bought a new stake in Amgen in the fourth quarter valued at $990,000. Congress Wealth Management LLC DE grew its position in Amgen by 8.9% in the fourth quarter. Congress Wealth Management LLC DE now owns 58,047 shares of the medical research company’s stock valued at $16,719,000 after acquiring an additional 4,730 shares during the period. Finally, Hoylecohen LLC grew its holdings in shares of Amgen by 34.9% during the fourth quarter. Hoylecohen LLC now owns 4,709 shares of the medical research company’s stock worth $1,356,000 after purchasing an additional 1,218 shares during the last quarter. 74.44% of the stock is currently owned by institutional investors.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,096 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $273.03, for a total transaction of $572,270.88. Following the completion of the transaction, the senior vice president now directly owns 10,874 shares in the company, valued at $2,968,928.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Friday, February 16th will be issued a dividend of $2.25 per share. The ex-dividend date is Thursday, February 15th. This is a positive change from Amgen’s previous quarterly dividend of $2.13. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.09%. Amgen’s payout ratio is 68.21%.

About Amgen

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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Beh├žet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

Further Reading

Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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