DZ Bank Issues Positive Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price target lifted by DZ Bank from $335.00 to $364.00 in a research note released on Monday,MarketScreener reports.

Other analysts also recently issued reports about the stock. Bank of America boosted their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Citigroup upped their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Morgan Stanley cut their price objective on Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. The Goldman Sachs Group decreased their target price on Amgen from $405.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Guggenheim upped their target price on Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Eight investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $311.74.

Amgen Trading Up 1.1%

Shares of AMGN stock opened at $323.66 on Monday. The stock has a 50-day simple moving average of $290.66 and a 200 day simple moving average of $288.96. Amgen has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The stock has a market capitalization of $174.28 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.61 and a beta of 0.45. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping the consensus estimate of $5.01 by $0.63. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. During the same period in the previous year, the business earned $5.58 earnings per share. Amgen’s revenue for the quarter was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, sell-side analysts expect that Amgen will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s payout ratio is 73.57%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amgen

Several hedge funds have recently bought and sold shares of the business. OLD National Bancorp IN boosted its stake in shares of Amgen by 296.2% in the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after purchasing an additional 13,460 shares during the last quarter. Atlantic Union Bankshares Corp lifted its holdings in Amgen by 165.0% in the second quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock valued at $2,972,000 after buying an additional 6,627 shares during the period. Trinity Legacy Partners LLC lifted its holdings in Amgen by 3.9% in the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after buying an additional 612 shares during the period. Founders Financial Alliance LLC boosted its stake in Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after acquiring an additional 42 shares during the last quarter. Finally, Stephens Inc. AR raised its position in shares of Amgen by 14.2% during the 2nd quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after acquiring an additional 11,888 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

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.