Amgen (NASDAQ:AMGN) Sets New 1-Year High at $341.64

Shares of Amgen Inc. (NASDAQ:AMGN) reached a new 52-week high on Thursday . The company traded as high as $341.64 and last traded at $341.33, with a volume of 128302 shares trading hands. The stock had previously closed at $335.61.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Raymond James assumed coverage on Amgen in a report on Thursday, March 28th. They set a “market perform” rating for the company. Mizuho raised their price target on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Truist Financial reaffirmed a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Royal Bank of Canada raised their price target on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Finally, UBS Group raised their price target on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $312.63.

Amgen Stock Up 3.1 %

The company has a market capitalization of $185.69 billion, a P/E ratio of 47.94, a PEG ratio of 2.77 and a beta of 0.58. The firm’s 50 day moving average price is $313.12 and its two-hundred day moving average price is $296.93. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. During the same period last year, the business earned $3.98 EPS. The business’s quarterly revenue was up 22.0% on a year-over-year basis. Equities research analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amgen

Several hedge funds have recently added to or reduced their stakes in AMGN. Horizon Financial Services LLC acquired a new stake in Amgen during the 1st quarter valued at $28,000. BOK Financial Private Wealth Inc. acquired a new stake in Amgen during the 4th quarter valued at $29,000. United Community Bank acquired a new stake in Amgen during the 4th quarter valued at $29,000. Planned Solutions Inc. acquired a new stake in Amgen during the 4th quarter valued at $30,000. Finally, Delos Wealth Advisors LLC lifted its holdings in Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Company Profile

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.