Amgen (NASDAQ:AMGN) Price Target Raised to $230.00

Amgen (NASDAQ:AMGN) had its price target hoisted by Robert W. Baird from $215.00 to $230.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. Robert W. Baird currently has an underperform rating on the medical research company’s stock.

Several other equities research analysts have also weighed in on AMGN. Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. The Goldman Sachs Group set a $389.00 target price on Amgen in a report on Friday, June 5th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $350.00 price target on shares of Amgen in a research report on Monday, July 6th. UBS Group lifted their price target on Amgen from $400.00 to $420.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $370.07.

Amgen Price Performance

Shares of AMGN opened at $410.95 on Wednesday. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.01. The stock has a fifty day moving average price of $362.77 and a 200 day moving average price of $356.24. The company has a market cap of $221.79 billion, a P/E ratio of 25.54, a PEG ratio of 3.77 and a beta of 0.41. Amgen has a 12 month low of $269.77 and a 12 month high of $418.40.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.62 by $0.67. The business 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 124.14% and a net margin of 22.95%.The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, research analysts forecast that Amgen will post 22.73 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, August 21st. Amgen’s dividend payout ratio is presently 62.65%.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the transaction, the senior vice president directly owned 7,340 shares of the company’s stock, valued at $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Dogwood Wealth Management LLC boosted its stake in shares of Amgen by 275.0% in 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. Anfield Capital Management LLC increased its holdings in Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Tower View Wealth Management LLC raised its position in Amgen by 331.6% in 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 during 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 acquired a new position in Amgen in the fourth quarter worth $34,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Quarterly results exceeded expectations: Amgen reported second-quarter revenue of approximately $10.05 billion, up 9.5% year over year, while adjusted earnings of $6.29 per share surpassed the $5.62 consensus estimate. Amgen Q2 2026 earnings beat, raises full-year outlook, drops AMG 513
• Positive Sentiment: Guidance was raised: Management now expects fiscal-year earnings of $22.30 to $23.50 per share, supported by growth in cardiovascular, bone-health and rare-disease medicines. The performance offset pressure in the bone-health business and the decision to discontinue obesity candidate AMG 513. Amgen Stock Climbs as Drug Growth Outruns Obesity Setback
• Positive Sentiment: Analyst targets point to additional upside: BMO Capital Markets raised its target to $450, while UBS and TD Cowen set targets of $440 and $452, respectively. Morgan Stanley, RBC, Oppenheimer and Scotiabank also indicated that Amgen’s stock could rise. BMO Capital Markets Boosts Amgen Price Target to $450
• Neutral Sentiment: Analyst sentiment remains mixed: Wells Fargo raised its target to $400 and Canaccord Genuity to $384, both below the stock’s recent trading level, while Citi maintained a Hold rating and UBS maintained a Buy rating. This suggests strong results have improved sentiment, but valuation and pipeline execution remain concerns. Citi Keeps Their Hold Rating on Amgen
• Negative Sentiment: Pipeline disappointment limits the upside case: Amgen dropped AMG 513, its obesity-drug candidate, removing a potential growth driver and leaving investors focused on the company’s existing medicines and remaining pipeline. Amgen drops AMG 513

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.