Leerink Partnrs Has Pessimistic View of Amgen Q4 Earnings

Amgen Inc. (NASDAQ:AMGN) – Investment analysts at Leerink Partnrs decreased their Q4 2024 earnings per share (EPS) estimates for shares of Amgen in a research report issued on Wednesday, November 27th. Leerink Partnrs analyst D. Risinger now anticipates that the medical research company will post earnings of $4.97 per share for the quarter, down from their prior 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.

A number of other brokerages have also weighed in on AMGN. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday. Wolfe Research initiated coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Leerink Partners reduced their price target on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday. Finally, StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and an average target price of $323.05.

Amgen Price Performance

Shares of Amgen stock opened at $280.07 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The company’s fifty day simple moving average is $313.58 and its two-hundred day simple moving average is $317.57. The firm has a market cap of $150.55 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 2.62 and a beta of 0.60. Amgen has a 12-month low of $257.80 and a 12-month high of $346.85.

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

Amgen Dividend Announcement

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

Hedge Funds Weigh In On Amgen

A number of hedge funds have recently bought and sold shares of AMGN. Capital Performance Advisors LLP bought a new stake in shares of Amgen in the third quarter worth approximately $25,000. Hershey Financial Advisers LLC purchased a new stake in Amgen in the second quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new stake in Amgen in the 3rd quarter worth approximately $29,000. nVerses Capital LLC purchased a new stake in Amgen during the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the 2nd quarter valued at $33,000. Hedge funds and other 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.