Leerink Partnrs Issues Negative Estimate for Amgen Earnings

Amgen Inc. (NASDAQ:AMGN) – Equities research analysts at Leerink Partnrs cut their Q4 2024 EPS estimates for shares of Amgen in a research report issued to clients and investors on Wednesday, November 27th. Leerink Partnrs analyst D. Risinger now forecasts that the medical research company will post earnings per share of $4.97 for the quarter, down from their prior estimate of $5.01. The consensus estimate for Amgen’s current full-year earnings is $19.52 per share. Leerink Partnrs also issued estimates for Amgen’s FY2025 earnings at $20.33 EPS and FY2028 earnings at $19.41 EPS.

Other analysts have also issued reports about the company. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a report on Thursday. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Leerink Partners decreased their target price on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $323.05.

Amgen Price Performance

Shares of AMGN opened at $280.07 on Thursday. The company has a market capitalization of $150.55 billion, a P/E ratio of 35.86, a P/E/G ratio of 2.62 and a beta of 0.60. The business’s 50-day moving average is $312.46 and its two-hundred day moving average is $317.31. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen has a fifty-two week low of $257.80 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the company posted $4.96 earnings per share.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Institutional Investors Weigh In On Amgen

A number of large investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC increased its stake in shares of Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC increased its position in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC raised its stake in Amgen by 9,058.1% during the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after purchasing an additional 748,200 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after purchasing an additional 538,545 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.