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

Amgen Inc. (NASDAQ: AMGN) is -14.54% lower on its value in year-to-date trading and has touched a low of $220.44 and a high of $296.67 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The AMGN stock was last observed hovering at around $223.99 in the last trading session, with the day’s gains setting it 0.45% off its average median price target of $254.00 for the next 12 months. It is also 30.94% off the consensus price target high of $325.00 offered by 25 analysts, but current levels are -28.25% lower than the price target low of $175.00 for the same period.

Currently trading at $224.44, the stock is -3.73% and -5.84% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.3 million and changing 0.20% at the moment leaves the stock -10.36% off its SMA200. AMGN registered -9.32% loss for a year compared to 6-month loss of -21.88%. The firm has a 50-day simple moving average (SMA 50) of $5.96 and a 200-day simple moving average (SMA200) of $10.96.

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The stock witnessed a -8.19% gain in the last 1 month and extending the period to 3 months gives it a -4.96%, and is -1.51% down 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 1.77% over the week and 1.78% over the month.

Amgen Inc. (AMGN) has around 25200 employees, a market worth around $120.36B and $26.19B in sales. Current P/E ratio is 15.25 and Fwd P/E is 11.91. Profit margin for the company is 30.20%. Distance from 52-week low is 1.81% and -24.35% from its 52-week high. The company has generated returns on investments over the last 12 months (20.60%).

Amgen Inc. (AMGN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Amgen Inc. (AMGN) is a “Hold”. 25 analysts offering their recommendations for the stock have an average rating of 2.70, where 13 rate it as a Hold and 0 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

Amgen Inc. is expected to release its quarterly report on 08/01/2023.The EPS is expected to grow by 17.80% this year.

Amgen Inc. (AMGN) Top Institutional Holders

The shares outstanding are 534.00M, and float is at 532.97M with Short Float at 1.43%.

Amgen Inc. (AMGN) Insider Activity

A total of 52 insider transactions have happened at Amgen Inc. (AMGN) in the last six months, with sales accounting for 29 and purchases happening 23 times. The most recent transaction is an insider sale by Khosla Rachna,the company’sSVP, Business Development. SEC filings show that Khosla Rachna sold 387 shares of the company’s common stock on Nov 09 at a price of $292.90 per share for a total of $0.11 million. Following the sale, the insider now owns 6630.0 shares.

Amgen Inc. disclosed in a document filed with the SEC on Nov 08 that Grygiel Nancy A. (SVP & CCO) sold a total of 545 shares of the company’s common stock. The trade occurred on Nov 08 and was made at $293.54 per share for $0.16 million. Following the transaction, the insider now directly holds 13009.0 shares of the AMGN stock.

Still, SEC filings show that on Aug 22, Williams R Sanders (Director) disposed off 200 shares at an average price of $249.96 for $49992.0. The insider now directly holds 5,301 shares of Amgen Inc. (AMGN).

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

The company’s main competitors (and peers) include Johnson & Johnson (JNJ) that is trading -11.40% down over the past 12 months and Pfizer Inc. (PFE) that is -24.45% lower over the same period.

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