Analysts Are Cutting Price Targets of These 5 Stocks

04. Amgen Inc. (NASDAQ:AMGN)

Number of Hedge Fund Holders: 57

On June 26, Argus Research revised the price target for Amgen Inc. (NASDAQ:AMGN), lowering it from $270 to $260 while keeping its buy rating intact. Amgen Inc. (NASDAQ:AMGN) is a well-established biotechnology company founded in 1983. It has gained significant success in the field, developing treatments for various diseases such as anemia, migraine, leukemia, osteoporosis, and cancer. Amgen Inc. (NASDAQ:AMGN) specializes in discovering and manufacturing innovative human therapeutics.

During the first quarter of 2023, Amgen Inc. (NASDAQ:AMGN) demonstrated strong financial performance. It generated over $0.7 billion in free cash flow, indicating a healthy cash position. Additionally, Amgen Inc. reported an operating cash flow of over $1.1 billion for the same period, highlighting its robust financial operations. Furthermore, Amgen Inc. (NASDAQ:AMGN) distributed over $1 billion in dividends to its shareholders, underscoring its commitment to rewarding investors.