AMGEN Inc. [AMGN] Stock trading around $316.07 per share: What’s Next?

AMGEN Inc. [NASDAQ: AMGN] slipped around -5.9 points on Tuesday, while shares priced at $316.07 at the close of the session, down -1.83%. The company report on February 6, 2024 at 4:01 PM that AMGEN REPORTS FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL RESULTS.

Amgen (NASDAQ:AMGN) today announced financial results for the fourth quarter and full year 2023 versus comparable periods in 2022.

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“2023 was another year of performance and progress for our company,” said Robert A. Bradway, chairman and chief executive officer. “Our marketed products are reaching many more patients around the world, and we anticipate more than a dozen significant pipeline milestones in 2024.”.

Compared to the average trading volume of 2.41M shares, AMGN reached a trading volume of 5763237 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 $300.69 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 2.11. 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 21, 2023.

The Average True Range (ATR) for AMGEN Inc. is set at 6.27, with the Price to Sales ratio for AMGN stock in the period of the last 12 months amounting to 6.35. The Price to Book ratio for the last quarter was 22.09, with the Price to Cash per share for the same quarter was set at 64.91. Price to Free Cash Flow for AMGN in the course of the last twelve months was 18.04 with Quick ratio for the last quarter at 2.56.

How has AMGN stock performed recently?

AMGEN Inc. [AMGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.46. With this latest performance, AMGN shares gained by 4.31% in over the last four-week period, additionally plugging by 24.96% over the last 6 months – not to mention a rise of 28.92% 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 62.00, with the RSI for the last a single of trading hit 57.75, and the three-weeks RSI is set at 63.39 for AMGEN Inc. [AMGN]. The present Moving Average for the last 50 days of trading for this stock 292.17, while it was recorded at 320.01 for the last single week of trading, and 258.85 for the last 200 days.

AMGEN Inc. [AMGN]: Deeper insight into the fundamentals

AMGEN Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.56 and a Current Ratio set at 2.86.

Earnings analysis for AMGEN Inc. [AMGN]

With the latest financial reports released by the company, AMGEN Inc. posted 4.09/share EPS, while the average EPS was predicted by analysts to be reported at 4.09/share. 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 5.29%.

Insider trade positions for AMGEN Inc. [AMGN]

The top three institutional holders of AMGN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AMGN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AMGN stock with ownership which is approximately 5.8325%.