Amgen (NASDAQ:AMGN) Price Target Raised to $384.00

Amgen (NASDAQ:AMGN) had its price target increased by research analysts at Canaccord Genuity Group from $366.00 to $384.00 in a note issued to investors on Wednesday. The firm presently has a “hold” rating on the medical research company’s stock. Canaccord Genuity Group’s price target would indicate a potential downside of 1.70% from the company’s current price.

AMGN has been the subject of a number of other reports. Morgan Stanley decreased their price objective on Amgen from $340.00 to $333.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. BMO Capital Markets increased 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. Piper Sandler restated an “overweight” rating on shares of Amgen in a research note on Friday, June 12th. Daiwa Securities Group lowered their target price on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $361.30.

Amgen Price Performance

Shares of AMGN opened at $390.63 on Wednesday. The stock has a market cap of $210.83 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 3.83 and a beta of 0.41. The stock’s 50-day moving average price is $358.49 and its two-hundred day moving average price is $354.79. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. Amgen has a 1 year low of $269.77 and a 1 year high of $398.00.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMGN. Norges Bank bought a new stake in shares of Amgen during the 4th quarter worth $2,164,162,000. Capital World Investors raised its stake in Amgen by 22.9% during the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock worth $7,560,249,000 after acquiring an additional 4,302,237 shares in the last quarter. State Street Corp lifted its holdings in shares of Amgen by 4.4% in the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock worth $10,012,872,000 after acquiring an additional 1,287,310 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Amgen by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock worth $4,665,822,000 after acquiring an additional 1,035,779 shares during the last quarter. Finally, Amundi boosted its stake in shares of Amgen by 41.1% in the 4th quarter. Amundi now owns 3,396,945 shares of the medical research company’s stock valued at $1,111,854,000 after purchasing an additional 988,856 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Amgen

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.

Amgen Company Profile

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.