Amgen (NASDAQ:AMGN) Price Target Raised to $265.00 at Piper Sandler

Amgen (NASDAQ:AMGNGet Rating) had its target price upped by Piper Sandler from $260.00 to $265.00 in a research note released on Friday, Stock Target Advisor reports. Piper Sandler currently has an overweight rating on the medical research company’s stock.

Several other research analysts also recently weighed in on AMGN. Oppenheimer reiterated an outperform rating and issued a $290.00 target price on shares of Amgen in a research note on Friday, June 24th. Royal Bank of Canada lifted their target price on Amgen from $224.00 to $236.00 in a research note on Friday. Mizuho lifted their target price on Amgen from $202.00 to $208.00 in a research note on Tuesday, May 10th. Morgan Stanley lifted their target price on Amgen from $239.00 to $253.00 and gave the company an equal weight rating in a research note on Friday, July 15th. Finally, BMO Capital Markets lowered their target price on Amgen from $263.00 to $243.00 in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $250.00.

Amgen Trading Down 0.3 %

NASDAQ:AMGN opened at $246.25 on Friday. The stock’s 50 day moving average price is $245.14 and its 200 day moving average price is $239.83. The company has a market capitalization of $131.55 billion, a PE ratio of 20.87, a P/E/G ratio of 2.04 and a beta of 0.56. The company has a quick ratio of 1.09, a current ratio of 1.44 and a debt-to-equity ratio of 39.31. Amgen has a 52-week low of $198.64 and a 52-week high of $258.45.

Amgen (NASDAQ:AMGNGet Rating) last released its quarterly earnings results on Thursday, August 4th. The medical research company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.40 by $0.25. The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.53 billion. Amgen had a return on equity of 188.78% and a net margin of 24.92%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $4.38 EPS. On average, research analysts anticipate that Amgen will post 17.38 EPS for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be issued a dividend of $1.94 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $7.76 annualized dividend and a yield of 3.15%. Amgen’s dividend payout ratio is presently 65.76%.

Insider Transactions at Amgen

In other news, Director R Sanders Williams sold 600 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $250.00, for a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 5,501 shares of the company’s stock, valued at $1,375,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Jonathan P. Graham sold 13,500 shares of Amgen stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $241.81, for a total value of $3,264,435.00. Following the completion of the sale, the executive vice president now owns 37,333 shares of the company’s stock, valued at $9,027,492.73. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director R Sanders Williams sold 600 shares of Amgen stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $250.00, for a total value of $150,000.00. Following the completion of the sale, the director now directly owns 5,501 shares of the company’s stock, valued at approximately $1,375,250. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Amgen

A number of hedge funds and other institutional investors have recently made changes to their positions in AMGN. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in Amgen during the fourth quarter valued at about $26,000. RFG Advisory LLC grew its position in Amgen by 3.8% during the fourth quarter. RFG Advisory LLC now owns 9,150 shares of the medical research company’s stock valued at $2,058,000 after acquiring an additional 331 shares during the period. HC Advisors LLC purchased a new stake in Amgen during the fourth quarter valued at about $242,000. Clarius Group LLC grew its position in Amgen by 1.9% during the fourth quarter. Clarius Group LLC now owns 7,069 shares of the medical research company’s stock valued at $1,590,000 after acquiring an additional 131 shares during the period. Finally, Sigma Planning Corp grew its position in Amgen by 27.7% during the fourth quarter. Sigma Planning Corp now owns 16,180 shares of the medical research company’s stock valued at $3,640,000 after acquiring an additional 3,513 shares during the period. Hedge funds and other institutional investors own 79.01% of the company’s stock.

About Amgen

(Get Rating)

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 Beh├žet'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.

Further Reading

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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