Amgen (NASDAQ:AMGN) Stock Gets Price Target Bump from Scotiabank

Amgen (NASDAQ:AMGN) had its price objective upped by equities research analysts at Scotiabank from $500.00 to $530.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “sector outperform” rating on the medical research company’s stock. Scotiabank‘s price target suggests a potential upside of 10.77% from the stock’s current price.

AMGN has been the subject of a number of other research reports. TD Cowen upped their price target on Amgen from $452.00 to $531.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets dropped their price objective on shares of Amgen from $450.00 to $415.00 and set a “market perform” rating on the stock in a research note on Monday, October 12th. Morgan Stanley boosted their target price on shares of Amgen from $359.00 to $410.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Royal Bank Of Canada upped their target price on shares of Amgen from $430.00 to $470.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Argus raised their price target on shares of Amgen from $375.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $411.31.

Amgen Stock Up 3.7%

Shares of NASDAQ AMGN traded up $17.22 on Wednesday, hitting $478.48. The company had a trading volume of 4,594,541 shares, compared to its average volume of 2,757,751. Amgen has a 12-month low of $302.13 and a 12-month high of $482.48. The business has a 50 day moving average of $420.83 and a two-hundred day moving average of $376.16. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The firm has a market capitalization of $258.68 billion, a P/E ratio of 29.74, a PEG ratio of 3.41 and a beta of 0.43.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.79 by $0.66. The business had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.07 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $5.64 earnings per share. As a group, equities research analysts forecast that Amgen will post 22.96 earnings per share for the current fiscal year.

Insider Activity at Amgen

In other Amgen news, SVP Nancy Grygiel sold 2,970 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president directly owned 7,340 shares of the company’s stock, valued at $2,951,854.40. This represents a 28.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Rachna Khosla sold 1,252 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the transaction, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,222 shares of company stock worth $2,540,926 over the last 90 days. 0.85% of the stock is owned by company insiders.

Institutional Trading of Amgen

Several institutional investors have recently added to or reduced their stakes in AMGN. Quest 10 Wealth Builders Inc. raised its stake in Amgen by 220.0% during the third quarter. Quest 10 Wealth Builders Inc. now owns 80 shares of the medical research company’s stock valued at $34,000 after buying an additional 55 shares in the last quarter. Wellington Altus USA Inc. grew its position in shares of Amgen by 72.3% in the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company’s stock worth $28,000 after acquiring an additional 34 shares in the last quarter. Nvwm LLC grew its position in shares of Amgen by 412.5% in the 3rd quarter. Nvwm LLC now owns 82 shares of the medical research company’s stock worth $35,000 after acquiring an additional 66 shares in the last quarter. PFS Partners LLC increased its holdings in shares of Amgen by 95.5% in the 3rd quarter. PFS Partners LLC now owns 86 shares of the medical research company’s stock valued at $36,000 after acquiring an additional 42 shares during the last quarter. Finally, TOWER TRUST & INVESTMENT Co bought a new stake in shares of Amgen in the 3rd quarter valued at approximately $38,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen beat estimates with third-quarter revenue of $10.37 billion, up 8.5% year over year, and earnings per share of $6.45. It also raised its 2026 revenue and earnings guidance, helping support investor optimism. Read More.
• Positive Sentiment: Growth in products including Repatha and cancer drug IMDELLTRA is helping offset weakness elsewhere. Progress across the pipeline, alongside potential longer-term upside from obesity candidate MariTide, adds to the growth case. Read More.
• Neutral Sentiment: Analyst target increases were mixed in their implications: Goldman Sachs raised its target to $536 and kept a Buy rating, while several other firms maintained neutral or hold ratings and set targets below the recent share price. Read More.
• Negative Sentiment: Competition from biosimilars is weighing on Prolia and Xgeva sales, tempering the earnings beat and raising concerns about the impact on established products. Amgen also received an FDA warning letter concerning Vectibix promotion. Read More. · Read More.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.