Amgen Assigned Average 'Hold' Rating Amid Insider Share Sales

Amgen Inc. (NASDAQ:AMGN) has been assigned an average recommendation of 'Hold' by thirty-one brokerages, according to MarketBeat reports. Three analysts have given a sell rating, fourteen have assigned a hold rating, thirteen have assigned a buy rating, and one has given a strong buy rating. The average 1-year price target among brokers is $380.4286.

In the last three months, insiders have sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is currently owned by insiders.

Amgen's latest reported quarter exceeded analyst expectations for both earnings and revenue, with revenue increasing year over year. Strong results and full-year guidance have helped keep the stock near its 52-week high and provide a favorable backdrop for pipeline news.