Amgen Inc. (NASDAQ:AMGN) Receives $318.83 Consensus Target Price from Analysts

Amgen Inc. (NASDAQ:AMGN) has been assigned an average rating of “Hold” from the twenty-seven ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $314.91.

AMGN has been the topic of a number of recent analyst reports. Citigroup reduced their target price on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Truist Financial decreased their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Bank of America restated an “underperform” rating and issued a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Redburn Partners decreased their price target on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th.

Amgen Trading Down 0.7 %

AMGN stock opened at $262.23 on Monday. The firm’s fifty day simple moving average is $279.10 and its two-hundred day simple moving average is $308.66. The stock has a market capitalization of $140.96 billion, a price-to-earnings ratio of 33.58, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the company posted $4.96 EPS. As a group, analysts anticipate that Amgen will post 19.53 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is currently 121.90%.

Institutional Investors Weigh In On Amgen

Several institutional investors have recently added to or reduced their stakes in AMGN. Pathway Financial Advisers LLC grew its position in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Amgen by 561.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after acquiring an additional 1,306,982 shares during the period. Granite Bay Wealth Management LLC raised its stake in Amgen by 9,058.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after acquiring an additional 748,200 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after acquiring an additional 676,598 shares during the last quarter. 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.