Amgen Inc. [NASDAQ: AMGN] stock went on a downward path that fall over -1.52% on Thursday, amounting to a one-week price decrease of less than -2.63%. The company report on June 6, 2022 that FDA APPROVES RIABNI™ (RITUXIMAB-ARRX), A BIOSIMILAR TO RITUXAN® (RITUXIMAB), FOR ADULTS WITH MODERATE TO SEVERE RHEUMATOID ARTHRITIS.
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New Indication for Amgen’s Fifth FDA-approved Biosimilar.
Over the last 12 months, AMGN stock dropped by -1.18%. The one-year Amgen Inc. stock forecast points to a potential upside of 3.31. The average equity rating for AMGN stock is currently 2.60, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $129.05 billion, with 548.00 million shares outstanding and 533.12 million shares in the current float. Compared to the average trading volume of 3.07M shares, AMGN stock reached a trading volume of 2672419 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 $250.03 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 2.60. 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.
SVB Leerink have made an estimate for Amgen Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on May 23, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $210 to $250. The new note on the price target was released on February 09, 2022, representing the official price target for Amgen Inc. stock. Previously, the target price had yet another raise from $272 to $285, while Oppenheimer kept a Outperform rating on AMGN stock. On February 09, 2022, analysts increased their price target for AMGN shares from 235 to 238.
The Average True Range (ATR) for Amgen Inc. is set at 5.08, with the Price to Sales ratio for AMGN stock in the period of the last 12 months amounting to 4.90. The Price to Book ratio for the last quarter was 144.76, with the Price to Cash per share for the same quarter was set at 12.26. Price to Free Cash Flow for AMGN in the course of the last twelve months was 29.74 with Quick ratio for the last quarter at 1.10.
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 -2.63. With this latest performance, AMGN shares gained by 0.43% in over the last four-week period, additionally plugging by 13.22% over the last 6 months – not to mention a drop of -1.18% 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 40.99, with the RSI for the last a single of trading hit 33.54, and the three-weeks RSI is set at 45.24 for Amgen Inc. [AMGN]. The present Moving Average for the last 50 days of trading for this stock 246.40, while it was recorded at 245.51 for the last single week of trading, and 226.32 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 +35.22 and a Gross Margin at +75.16. Amgen Inc.’s Net Margin is presently recorded at +22.68.
Return on Equity for this stock inclined to 73.16, with Return on Assets sitting at 9.50.
Amgen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.40.
AMGN Stock EPS
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 7.10%.
Amgen Inc. [AMGN] Insider Position Details
There are presently around $105,050 million, or 81.20% of AMGN stock, in the hands of institutional investors. The top three institutional holders of AMGN stocks are: BLACKROCK INC. with ownership of 50,028,170, which is approximately -0.036% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 47,329,045 shares of the stock with an approximate value of $11.62 billion in AMGN stocks shares; and STATE STREET CORP, currently with $7.49 billion in AMGN stock with ownership of nearly 1.186% of the company’s market capitalization.
1,152 institutional holders increased their position in Amgen Inc. [NASDAQ:AMGN] by around 25,508,467 shares. Additionally, 952 investors decreased positions by around 23,371,162 shares, while 341 investors held positions by with 379,057,739 shares. The mentioned changes placed institutional holdings at 427,937,368 shares, according to the latest SEC report filing. AMGN stock had 173 new institutional investments in for a total of 1,918,687 shares, while 108 institutional investors sold positions of 1,036,111 shares during the same period.