Amgen (NASDAQ:AMGN) Stock Price Expected to Rise, Mizuho Analyst Says

Amgen (NASDAQ:AMGN) had its price objective lifted by equities research analysts at Mizuho from $235.00 to $280.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Mizuho’s price target indicates a potential upside of 2.92% from the stock’s current price.

A number of other research firms have also recently commented on AMGN. Cantor Fitzgerald began coverage on Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 target price on the stock. Royal Bank of Canada dropped their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, May 2nd. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Piper Sandler increased their target price on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $310.23.

Amgen Stock Performance

AMGN opened at $272.05 on Wednesday. The firm has a 50 day moving average of $297.00 and a two-hundred day moving average of $290.23. The firm has a market capitalization of $146.27 billion, a PE ratio of 36.03, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $3.96 EPS. On average, analysts anticipate that Amgen will post 20.62 EPS for the current year.

Insider Buying and Selling at Amgen

In other news, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, the executive vice president now owns 36,922 shares of the company’s stock, valued at $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the transaction, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,707 shares of company stock worth $12,819,342. 0.69% of the stock is owned by insiders.

Hedge Funds Weigh In On Amgen

A number of hedge funds have recently made changes to their positions in AMGN. Talbot Financial LLC lifted its stake in shares of Amgen by 5.6% during 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. Ascent Wealth Partners LLC lifted its holdings in Amgen by 0.7% in the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock worth $2,352,000 after buying an additional 64 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after acquiring an additional 35,785 shares during the last quarter. ICICI Prudential Asset Management Co Ltd grew its stake in Amgen by 242.2% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock valued at $6,255,000 after purchasing an additional 16,985 shares in the last quarter. Finally, PFW Advisors LLC acquired a new position in shares of Amgen in the 4th quarter valued at approximately $1,105,000. Institutional investors and hedge funds 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.