Leerink Partnrs Has Bearish Forecast for Amgen Q4 Earnings

Amgen Inc. (NASDAQ:AMGN) – Leerink Partnrs reduced their Q4 2024 earnings 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 previous forecast 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.

Several other equities analysts also recently weighed in on the stock. Redburn Partners lowered their price target on shares of Amgen from $200.00 to $195.00 in a report on Wednesday. UBS Group decreased their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Finally, Leerink Partners lowered their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $323.05.

Amgen Stock Up 0.0 %

AMGN stock opened at $280.07 on Thursday. The business’s 50-day moving average price is $313.58 and its 200-day moving average price is $317.57. The stock has a market cap of $150.55 billion, a P/E ratio of 35.86, a PEG ratio of 2.62 and a beta of 0.60. Amgen has a twelve month low of $257.80 and a twelve month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the business earned $4.96 earnings per share. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year.

Amgen Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the third quarter valued at approximately $25,000. Strategic Financial Concepts LLC purchased a new position in Amgen during the 2nd quarter valued at $26,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the 3rd quarter valued at $29,000. Hershey Financial Advisers LLC purchased a new stake in Amgen in the second quarter worth $30,000. Finally, nVerses Capital LLC purchased a new stake in Amgen in the second quarter worth $31,000. Institutional investors own 76.50% of the company’s stock.

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.