Analysts Set Amgen Inc. (NASDAQ:AMGN) Target Price at $332.55

Shares of Amgen Inc. (NASDAQ:AMGN) have been assigned an average recommendation of “Moderate Buy” from the twenty-four research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $332.55.

A number of equities analysts have recently issued reports on AMGN shares. Bank of America increased their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Barclays boosted their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Sanford C. Bernstein initiated coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Finally, Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $320.00 to $333.00 in a report on Monday, October 14th.

Amgen Price Performance

Amgen stock opened at $316.98 on Wednesday. The business has a 50 day simple moving average of $325.49 and a 200-day simple moving average of $314.10. Amgen has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The stock has a market capitalization of $170.04 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same quarter last year, the business posted $5.00 EPS. The firm’s revenue was up 20.1% on a year-over-year basis. Equities analysts predict that Amgen will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.84%. Amgen’s dividend payout ratio is currently 128.57%.

Hedge Funds Weigh In On Amgen

Several institutional investors and hedge funds have recently modified their holdings of the company. Hoxton Planning & Management LLC increased its stake in Amgen by 5.7% in the first quarter. Hoxton Planning & Management LLC now owns 739 shares of the medical research company’s stock valued at $210,000 after purchasing an additional 40 shares during the last quarter. First Financial Corp IN increased its stake in shares of Amgen by 15.7% during the 1st quarter. First Financial Corp IN now owns 390 shares of the medical research company’s stock valued at $111,000 after acquiring an additional 53 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Amgen by 17.4% in the first quarter. Sound Income Strategies LLC now owns 1,080 shares of the medical research company’s stock worth $307,000 after acquiring an additional 160 shares during the last quarter. Elevated Capital Advisors LLC boosted its position in shares of Amgen by 8.0% in the first quarter. Elevated Capital Advisors LLC now owns 1,328 shares of the medical research company’s stock worth $378,000 after acquiring an additional 98 shares during the last quarter. Finally, Sovereign Financial Group Inc. increased its position in Amgen by 11.0% during the first quarter. Sovereign Financial Group Inc. now owns 1,451 shares of the medical research company’s stock worth $413,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors 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.