Market Analysts see Amgen Inc. [AMGN] gaining to $256. Time to buy?

Amgen Inc. [NASDAQ: AMGN] traded at a low on 09/12/22, posting a -4.07 loss after which it closed the day’ session at $237.62. The company report on September 12, 2022 that AMGEN ANNOUNCES WEBCAST OF 2022 BANK OF AMERICA MERRILL LYNCH GLOBAL HEALTHCARE CONFERENCE.


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Amgen (NASDAQ:AMGN) will present at Bank of America Merrill Lynch’s 2022 Global Healthcare Conference at 4:55 a.m. ET on Thursday,  Sept. 15, 2022. Peter H. Griffith, executive vice president and chief financial officer at Amgen, will present at the conference. The webcast will be broadcast over the internet simultaneously and will be available to members of the news media, investors and the general public.

The webcast, as with other selected presentations regarding developments in Amgen’s business given by management at certain investor and medical conferences, can be found on Amgen’s website, www.amgen.com, under Investors. Information regarding presentation times, webcast availability and webcast links are noted on Amgen’s Investor Relations Events Calendar. The webcast will be archived and available for replay for at least 90 days after the event.

The results of the trading session contributed to over 6275137 shares changing hands. Over the past one week, the price volatility of Amgen Inc. stands at 1.66% while the volatility over the past one month is 1.56%.

The market cap for AMGN stock reached $125.96 billion, with 535.00 million shares outstanding and 533.67 million shares in the current float. Compared to the average trading volume of 2.89M shares, AMGN reached a trading volume of 6275137 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $253.12 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 4.47, with the Price to Sales ratio for AMGN stock in the period of the last 12 months amounting to 4.77. The Price to Book ratio for the last quarter was 52.57, with the Price to Cash per share for the same quarter was set at 13.55. Price to Free Cash Flow for AMGN in the course of the last twelve months was 29.65 with Quick ratio for the last quarter at 1.20.

How has AMGN stock performed recently?

Amgen Inc. [AMGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.96. With this latest performance, AMGN shares dropped by -4.32% in over the last four-week period, additionally plugging by 3.83% over the last 6 months – not to mention a rise of 11.17% 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 39.11, with the RSI for the last a single of trading hit 35.95, and the three-weeks RSI is set at 41.55 for Amgen Inc. [AMGN]. The present Moving Average for the last 50 days of trading for this stock 246.49, while it was recorded at 243.55 for the last single week of trading, and 236.69 for the last 200 days.

Amgen Inc. [AMGN]: Deeper insight into the 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 1.20 and a Current Ratio set at 1.50.

Earnings analysis for Amgen Inc. [AMGN]

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 8.03%.

Insider trade positions for Amgen Inc. [AMGN]

There are presently around $99,390 million, or 80.10% of AMGN stock, in the hands of institutional investors. The top three institutional holders of AMGN stocks are: BLACKROCK INC. with ownership of 46,825,552, which is approximately -6.402% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 46,148,617 shares of the stock with an approximate value of $10.97 billion in AMGN stocks shares; and STATE STREET CORP, currently with $6.96 billion in AMGN stock with ownership of nearly -4.011% of the company’s market capitalization.

Positions in Amgen Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 1,067 institutional holders increased their position in Amgen Inc. [NASDAQ:AMGN] by around 19,798,383 shares. Additionally, 1,021 investors decreased positions by around 26,804,842 shares, while 362 investors held positions by with 371,669,230 shares. The mentioned changes placed institutional holdings at 418,272,455 shares, according to the latest SEC report filing. AMGN stock had 134 new institutional investments in for a total of 1,846,815 shares, while 85 institutional investors sold positions of 1,895,821 shares during the same period.

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