BMO Capital Markets Forecasts Strong Price Appreciation for Amgen (NASDAQ:AMGN) Stock

Amgen (NASDAQ:AMGN) had its price objective lifted by BMO Capital Markets from $400.00 to $450.00 in a report issued on Wednesday, Marketbeat reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. BMO Capital Markets’ target price points to a potential upside of 15.20% from the stock’s current price.

Other research analysts have also issued reports about the company. Freedom Capital upgraded Amgen from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Weiss Ratings downgraded Amgen from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 15th. Canaccord Genuity Group started coverage on Amgen in a research note on Monday, April 20th. They issued a “hold” rating and a $366.00 price target on the stock. Argus lowered their price target on Amgen from $400.00 to $375.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Finally, Barclays boosted their price objective on shares of Amgen from $350.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $358.92.

Amgen Price Performance

Shares of AMGN stock opened at $390.63 on Wednesday. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The company has a market capitalization of $210.83 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 3.83 and a beta of 0.41. The firm’s 50-day moving average is $358.49 and its two-hundred day moving average is $354.79. Amgen has a 12 month low of $269.77 and a 12 month 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, beating the consensus estimate of $5.62 by $0.67. The business had revenue of $10.05 billion during the quarter, compared to analysts’ expectations of $9.43 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Analysts predict that Amgen will post 22.31 earnings per share for the current year.

Hedge Funds Weigh In On Amgen

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. increased its holdings in Amgen by 10.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company’s stock valued at $157,584,000 after buying an additional 43,884 shares during the last quarter. Curtis Advisory Group LLC purchased a new stake in Amgen during the 4th quarter worth about $1,669,000. Adell Harriman & Carpenter Inc. lifted its holdings in Amgen by 7.9% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company’s stock worth $7,204,000 after buying an additional 1,609 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Amgen during the 4th quarter worth about $22,441,000. Finally, Sigma Planning Corp boosted its position in shares of Amgen by 24.0% during the 4th quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company’s stock worth $5,889,000 after acquiring an additional 3,488 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

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.