Why Amgen Inc. (AMGN) Stock Could See Much Higher Prices Ahead

Amgen Inc. (NASDAQ: AMGN) is 5.00% higher on its value in year-to-date trading and has touched a low of $177.05 and a high of $264.97 in the current 52-week trading range. The AMGN stock was last observed hovering at around $252.81 in the last trading session, with the day’s gains setting it 0.31% off its average median price target of $269.00 for the next 12 months. It is also 17.82% off the consensus price target high of $308.00 offered by 29 analysts, but current levels are -36.82% lower than the price target low of $185.00 for the same period.

Currently trading at $253.12, the stock is 4.55% and 3.11% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 12.73 million and changing 0.12% at the moment leaves the stock 9.97% off its SMA200. AMGN registered 22.29% gain for a year compared to 6-month gain of 19.28%. The firm has a 50-day simple moving average (SMA 50) of $247.01 and a 200-day simple moving average (SMA200) of $228.95.

The stock witnessed a 2.84% loss in the last 1 month and extending the period to 3 months gives it a 11.55%, and is 6.51% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.67% over the week and 2.06% over the month.

Amgen Inc. (AMGN) has around 23400 employees, a market worth around $148.07B and $24.30B in sales. Current P/E ratio is 20.68 and Fwd P/E is 15.03. Profit margin for the company is 30.00%. Distance from 52-week low is 42.97% and -4.47% from its 52-week high. The company has generated returns on investments over the last 12 months (21.20%).

Amgen Inc. (AMGN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Amgen Inc. (AMGN) is a “Overweight”. 29 analysts offering their recommendations for the stock have an average rating of 2.20, where 11 rate it as a Hold and 2 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Amgen Inc. is expected to release its quarterly report on 11/03/2020 and quarterly earnings per share for the current quarter are estimated at $3.8 with sales reaching $6.35B over the same period.The EPS is expected to grow by 2.00% this year, but quarterly earnings will post 7.10% year-over-year. Quarterly sales are estimated to grow 10.70% in year-over-year returns.

Amgen Inc. (AMGN) Top Institutional Holders

2,643 institutions hold shares in Amgen Inc. (AMGN), with 1.3M shares held by insiders accounting for 0.22% while institutional investors hold 79.11% of the company’s shares. The shares outstanding are 588.00M, and float is at 584.66M with Short Float at 0.75%. Institutions hold 78.93% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 48.87 million shares valued at $11.53 billion. The investor’s holdings represent 8.34% of the AMGN Shares outstanding. As of Jun 29, 2020, the second largest holder is Blackrock Inc. with 48.73 million shares valued at $11.49 billion to account for 8.32% of the shares outstanding. The other top investors are Capital Research Global Investors which holds 33.36 million shares representing 5.70% and valued at over $7.87 billion, while State Street Corporation holds 4.48% of the shares totaling 26.26 million with a market value of $6.19 billion.

Amgen Inc. (AMGN) Insider Activity

A total of 77 insider transactions have happened at Amgen Inc. (AMGN) in the last six months, with sales accounting for 40 and purchases happening 37 times. The most recent transaction is an insider sale by SUGAR RONALD D, the company’s Director. SEC filings show that SUGAR RONALD D sold 1,000 shares of the company’s common stock on Aug 19 at a price of $241.02 per share for a total of $0.24 million. Following the sale, the insider now owns 15589.0 shares.

Amgen Inc. disclosed in a document filed with the SEC on Aug 07 that Williams R Sanders (Director) sold a total of 250 shares of the company’s common stock. The trade occurred on Aug 07 and was made at $242.95 per share for $60738.0. Following the transaction, the insider now directly holds 5159.0 shares of the AMGN stock.

Still, SEC filings show that on Jul 22, SUGAR RONALD D (Director) disposed off 1,000 shares at an average price of $259.79 for $0.26 million. The insider now directly holds 15,589 shares of Amgen Inc. (AMGN).

Amgen Inc. (AMGN): Who are the competitors?

The company’s main competitors (and peers) include Biogen Inc. (BIIB) that is trading 27.84% up over the past 12 months. AbbVie Inc. (ABBV) is 42.21% up on the 1-year trading charts. Short interest in the company’s stock has fallen -25.28% from the last report on Jul 14, 2020 to stand at a total of 5.5 million short shares sold with a short interest ratio of 2.24.