Amgen Inc. [AMGN] Stock trading around $236.71 per share: What’s Next?

Amgen Inc. [NASDAQ: AMGN] stock went on a downward path that fall over -7.22% on Wednesday, amounting to a one-week price decrease of less than -8.53%. The company report on April 28, 2021 that Amgen Provides Updated Information On LUMAKRAS™ (Sotorasib)¹ Dose Comparison Study.

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Amgen (NASDAQ:AMGN) announced that it agreed last night with the FDA’s proposed post-marketing requirement to conduct, as part of the ongoing development program, a multi-center randomized clinical trial to compare the safety and efficacy of LUMAKRAS™ at 960 mg once daily versus a lower daily dose of the drug. Based on the preclinical, pharmacokinetic, and clinical data, Amgen intends to proceed with the previously disclosed study comparing 960 mg once daily to a 240 mg once daily dose.

Amgen anticipates the results from the study in late 2022 and does not expect any impact on the timelines of the ongoing priority review of LUMAKRAS™.

Over the last 12 months, AMGN stock dropped by -0.40%. The one-year Amgen Inc. stock forecast points to a potential upside of 7.54. The average equity rating for AMGN stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $135.25 billion, with 580.00 million shares outstanding and 576.49 million shares in the current float. Compared to the average trading volume of 2.66M shares, AMGN stock reached a trading volume of 7540875 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Amgen Inc. [AMGN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AMGN shares is $256.01 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AMGN stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Daiwa Securities have made an estimate for Amgen Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 29, 2020. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on October 28, 2020, representing the official price target for Amgen Inc. stock. Previously, the target price had yet another raise to $255, while Raymond James analysts kept a Outperform rating on AMGN stock.

The Average True Range (ATR) for Amgen Inc. is set at 5.36, with the Price to Sales ratio for AMGN stock in the period of the last 12 months amounting to 5.32. The Price to Book ratio for the last quarter was 14.59, with the Price to Cash per share for the same quarter was set at 18.63. Price to Free Cash Flow for AMGN in the course of the last twelve months was 22.05 with Quick ratio for the last quarter at 1.50.

AMGN Stock Performance Analysis:

Amgen Inc. [AMGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.53. With this latest performance, AMGN shares dropped by -7.16% in over the last four-week period, additionally plugging by 5.26% over the last 6 months – not to mention a drop of -0.40% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AMGN stock in for the last two-week period is set at 33.80, with the RSI for the last a single of trading hit 24.51, and the three-weeks RSI is set at 39.90 for Amgen Inc. [AMGN]. The present Moving Average for the last 50 days of trading for this stock 242.23, while it was recorded at 251.89 for the last single week of trading, and 239.64 for the last 200 days.

Insight into Amgen Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Amgen Inc. [AMGN] shares currently have an operating margin of +35.49 and a Gross Margin at +75.60. Amgen Inc.’s Net Margin is presently recorded at +28.77.

Return on Total Capital for AMGN is now 21.60, given the latest momentum, and Return on Invested Capital for the company is 18.25. Return on Equity for this stock inclined to 76.13, with Return on Assets sitting at 11.84. When it comes to the capital structure of this company, Amgen Inc. [AMGN] has a Total Debt to Total Equity ratio set at 355.46. Additionally, AMGN Total Debt to Total Capital is recorded at 78.04, with Total Debt to Total Assets ending up at 53.13. Long-Term Debt to Equity for the company is recorded at 352.86, with the Long-Term Debt to Total Capital now at 77.47.

Reflecting on the efficiency of the workforce at the company, Amgen Inc. [AMGN] managed to generate an average of $298,930 per employee. Receivables Turnover for the company is 5.06 with a Total Asset Turnover recorded at a value of 0.41.Amgen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.80.

AMGN Stock EPS

With the latest financial reports released by the company, Amgen Inc. posted 4.25/share EPS, while the average EPS was predicted by analysts to be reported at 3.82/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AMGN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Amgen Inc. go to 6.91%.

Amgen Inc. [AMGN] Insider Position Details

There are presently around $103,616 million, or 77.70% of AMGN stock, in the hands of institutional investors. The top three institutional holders of AMGN stocks are: BLACKROCK INC. with ownership of 47,805,794, which is approximately -0.374% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 47,227,229 shares of the stock with an approximate value of $11.18 billion in AMGN stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $7.52 billion in AMGN stock with ownership of nearly -5.19% of the company’s market capitalization.

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Positions in Amgen Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 1,116 institutional holders increased their position in Amgen Inc. [NASDAQ:AMGN] by around 15,390,468 shares. Additionally, 901 investors decreased positions by around 22,902,292 shares, while 300 investors held positions by with 399,439,446 shares. The mentioned changes placed institutional holdings at 437,732,206 shares, according to the latest SEC report filing. AMGN stock had 207 new institutional investments in for a total of 3,339,202 shares, while 125 institutional investors sold positions of 1,504,796 shares during the same period.

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