Stocks of Amgen Inc. (NASDAQ:AMGN) traded higher last session on Wall Street, up 5.45% to $243.28.
According to the data, Amgen Inc. (NASDAQ:AMGN) has 26 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $310.00 and a low of $175.00, we find $255.00. Given the previous closing price of $230.70, this indicates a potential upside of 10.53 percent. AMGN stock price is now 7.76% away from the 50-day moving average and -1.50% away from the 200-day moving average. The market capitalization of the company currently stands at $123.27B.
A total of 14 analysts have issued a hold rating and 8 have given it a buy rating. Brokers who have rated the stock have averaged $248.28 as their price target over the next twelve months.
With the price target reduced from $292 to $290, Oppenheimer maintained Outperform rating for Amgen Inc. (NASDAQ: AMGN).
In other news, Khosla Rachna, SVP, Business Development sold 387 shares of the company’s stock on Nov 09. The stock was sold for $113,352 at an average price of $292.90. Upon completion of the transaction, the SVP, Business Development now directly owns 6,630 shares in the company, valued at $1.61 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 08, SVP & CCO Grygiel Nancy A. sold 545 shares of the business’s stock. A total of $159,977 was realized by selling the stock at an average price of $293.54. This leaves the insider owning 13,009 shares of the company worth $3.16 million. Insiders disposed of 73,672 shares of company stock worth roughly $17.92 million over the past 1 year. A total of 0.24% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AMGN stock. A new stake in Amgen Inc. shares was purchased by UBS ASSET MANAGEMENT AMERICAS INC during the first quarter worth $804,874,000. EMPOWER ADVISORY GROUP, LLC invested $97,537,000 in shares of AMGN during the first quarter. In the first quarter, JANNEY MONTGOMERY SCOTT LLC acquired a new stake in Amgen Inc. valued at approximately $71,617,000. TUDOR INVESTMENT CORP ET AL acquired a new stake in AMGN for approximately $23,694,000. BOONE CAPITAL MANAGEMENT LLC purchased a new stake in AMGN valued at around $19,256,000 in the second quarter. In total, there are 3,107 active investors with 79.10% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $237.91 for Amgen Inc. (NASDAQ: AMGN). During the past 12 months, Amgen Inc. has had a low of $211.71 and a high of $296.67. As of last week, the company has a debt-to-equity ratio of 11.52, a current ratio of 3.10, and a quick ratio of 2.80. According to the stock market information, the enterprise value for the company is $154.06B, which is based on a 16.53 price-to-earnings ratio, a 23.68 price-to-earnings-growth ratio, and a beta of 0.63. The fifty day moving average price for AMGN is $226.13 and a two-hundred day moving average price translates $246.94 for the stock.
The latest earnings results from Amgen Inc. (NASDAQ: AMGN) was released for Jun, 2023. According to the Drug Manufacturers – General Company, earnings per share came in at $4.53, beating analysts’ expectations of $4.07 by 0.46. This compares to $2.68 EPS in the same period last year. The net profit margin was 25.00% and return on equity was 173.80% for AMGN. The company reported revenue of $6.11 billion for the quarter, compared to $6.24 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.13 percent. For the current quarter, analysts expect AMGN to generate $6.19B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/08/2023. Investors who held shares on 08/18/2023 were paid a $2.13 dividend. On an annualized basis, this represents a $8.52 dividend and a 3.50% percent yield. There was an ex-dividend date of 08/17/2023 for this dividend. In terms of dividend payout ratio, AMGN is presently at 63.70%.
Amgen Inc.(AMGN) Company Profile
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 Behçet’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. It also markets Nplate, Vectibix, MVASI, Parsabiv, EPOGEN, KANJINTI, BLINCYTO, Aimovig, EVENITY, AMGEVITATM, Sensipar/Mimpara, NEUPOGEN, IMLYGIC, Corlanor, and AVSOLA. Amgen Inc. serves healthcare providers, including physicians or their clinics, dialysis centers, hospitals, and pharmacies. It distributes its products through pharmaceutical wholesale distributors, as well as direct-to-consumer channels. It has collaboration agreements with Novartis Pharma AG; UCB; Bayer HealthCare LLC; BeiGene, Ltd.; Eli Lilly and Company; Datos Health; and Verastem, Inc. to evaluate VS-6766 in combination with lumakrastm (Sotorasib) in patients with KRAS G12C-mutant non-small cell lung cancer. It has an agreement with Kyowa Kirin Co., Ltd. to jointly develop and commercialize KHK4083, a Phase 3-ready anti-OX40 fully human monoclonal antibody for the treatment of atopic dermatitis and other autoimmune diseases; and research and development collaboration with Neumora Therapeutics, Inc. and Plexium, Inc. Amgen Inc. was incorporated in 1980 and is headquartered in Thousand Oaks, California.
