Amgen (NASDAQ:AMGN) Given New $450.00 Price Target at Oppenheimer

Amgen (NASDAQ:AMGN) had its target price raised by analysts at Oppenheimer from $400.00 to $450.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Oppenheimer’s price target points to a potential upside of 15.20% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Wells Fargo & Company upped their target price on Amgen from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday. BMO Capital Markets boosted their price objective on shares of Amgen from $400.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday. Mizuho upped their price objective on shares of Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a report on Tuesday, June 16th. Erste Group Bank reiterated a “hold” rating on shares of Amgen in a research note on Tuesday, May 5th. Finally, Morgan Stanley lifted their target price on shares of Amgen from $333.00 to $351.00 and gave the stock an “equal weight” rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $361.30.

Amgen Stock Performance

Shares of AMGN opened at $390.63 on Wednesday. The company has a market capitalization of $210.83 billion, a PE ratio of 27.18, a PEG ratio of 3.83 and a beta of 0.41. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. The company’s 50 day moving average price is $358.49 and its 200 day moving average price is $354.79. Amgen has a 52 week low of $269.77 and a 52 week high of $398.00.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. The company had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Research analysts expect that Amgen will post 22.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Amgen

Several large investors have recently made changes to their positions in AMGN. Anfield Capital Management LLC increased its holdings in shares of Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after buying an additional 70 shares in the last quarter. Dogwood Wealth Management LLC increased its holdings in Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 55 shares in the last quarter. Tower View Wealth Management LLC increased its holdings in Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. Manning & Napier Advisors LLC raised its position in Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Ares Financial Consulting LLC bought a new position in Amgen in the 4th quarter valued at $34,000. Institutional investors own 76.50% of the company’s stock.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q2 results exceeded expectations: Adjusted earnings were $6.29 per share versus the $5.62 consensus, while revenue rose 9.5% year over year to $10.05 billion, beating estimates of $9.43 billion. The company cited broad-based demand, with 22 products delivering double-digit sales growth. Amgen second-quarter sales rise 9%, profit tops Street view
• Positive Sentiment: Full-year guidance was raised: Amgen now expects 2026 revenue of $38.2 billion to $39.4 billion, above the previous outlook and ahead of Wall Street’s estimate. Stronger sales of Repatha, Evenity and rare-disease medicines are helping offset declines in Prolia and XGEVA. Amgen Lifts Outlook on Strong Drug Sales
• Positive Sentiment: Pipeline and analyst confidence remain supportive: William Blair reiterated a Buy rating, pointing to late-stage pipeline catalysts and portfolio growth. Amgen also continues development of MariTide, its experimental obesity treatment, and extended a Phase 3 obesity study, preserving a potential long-term growth opportunity. Analyst Maintains Buy on Amgen
• Neutral Sentiment: Amgen generated $3.5 billion in free cash flow and held $14 billion in cash at quarter-end, supporting financial flexibility. However, the company’s high leverage and valuation may limit further gains if growth expectations are already reflected in the stock.
• Negative Sentiment: Cybersecurity and regulatory risks could weigh on sentiment: Amgen disclosed a data breach involving patient and proprietary information, and a law firm has launched a class-action investigation. Regulators are also reviewing data supporting Tavneos after the retraction of a pivotal publication, creating potential legal, reputational and commercial risks. Amgen data breach class-action investigation
• Negative Sentiment: Amgen is ending early development of another Phase 1 obesity treatment, reducing the breadth of its weight-loss pipeline, even though MariTide remains in development.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.