Amgen (NASDAQ:AMGN) Given New $425.00 Price Target at JPMorgan Chase & Co.

Amgen (NASDAQ:AMGN) had its price objective upped by JPMorgan Chase & Co. from $350.00 to $425.00 in a research note published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the medical research company’s stock.

A number of other equities research analysts also recently commented on the company. HSBC downgraded Amgen from a “buy” rating to a “hold” rating and cut their price objective for the company from $445.00 to $425.00 in a research report on Thursday, September 10th. Oppenheimer reiterated an “outperform” rating on shares of Amgen in a report on Friday, October 23rd. TD Cowen boosted their target price on shares of Amgen from $452.00 to $531.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group upped their price target on Amgen from $481.00 to $536.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity Group increased their price target on Amgen from $384.00 to $440.00 and gave the company a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Amgen currently has an average rating of “Hold” and an average target price of $413.38.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $478.48 on Wednesday. Amgen has a 12 month low of $302.13 and a 12 month high of $482.48. The stock has a market cap of $258.68 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 3.38 and a beta of 0.43. The stock’s 50 day moving average price is $421.56 and its 200 day moving average price is $376.90. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.79 by $0.66. Amgen had a return on equity of 128.15% and a net margin of 24.14%. The firm had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same period last year, the company posted $5.64 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Amgen will post 22.96 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 20th. Amgen’s payout ratio is currently 62.65%.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,252 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the sale, the senior vice president owned 6,404 shares of the company’s stock, valued at $2,666,817.72. This trade represents a 16.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. 626 Financial LLC acquired a new position in shares of Amgen during the third quarter valued at about $222,000. Csenge Advisory Group grew its position in Amgen by 1.2% during the third quarter. Csenge Advisory Group now owns 10,491 shares of the medical research company’s stock worth $4,422,000 after buying an additional 129 shares in the last quarter. D.B. Root & Company LLC grew its position in Amgen by 9.3% during the third quarter. D.B. Root & Company LLC now owns 738 shares of the medical research company’s stock worth $311,000 after buying an additional 63 shares in the last quarter. D Orazio & Associates Inc. increased its stake in Amgen by 4.4% during the third quarter. D Orazio & Associates Inc. now owns 3,231 shares of the medical research company’s stock valued at $1,362,000 after acquiring an additional 135 shares during the period. Finally, New York Life Investment Management LLC increased its stake in Amgen by 1.6% during the third quarter. New York Life Investment Management LLC now owns 88,055 shares of the medical research company’s stock valued at $37,116,000 after acquiring an additional 1,378 shares during the period. 76.50% of the stock is owned by institutional investors.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported adjusted earnings of $6.45 per share and revenue of $10.37 billion, topping analyst estimates; revenue increased 8.5% year over year. The company also raised its 2026 outlook to $38.9 billion–$39.7 billion in revenue and $18.34–$19.28 in GAAP EPS. Amgen third-quarter financial results
• Positive Sentiment: Growth in medicines including Repatha and IMDELLTRA helped offset pressure elsewhere. Amgen also highlighted pipeline progress, including IMDELLTRA and potential longer-term growth from its obesity candidate MariTide. Amgen raises 2026 outlook
• Positive Sentiment: Several firms raised their targets, including UBS and Scotiabank to $530 and Goldman Sachs to $536, with buy or outperform ratings. These revisions suggest some analysts see further upside after the results. Analyst views and revised targets
• Neutral Sentiment: Analyst opinion remains divided: some target increases still leave estimates below the prevailing share price, and MariTide data is a future catalyst rather than a near-term result. RBC Capital adjusts Amgen target
• Negative Sentiment: Investors remain concerned about steep declines in Prolia and Xgeva as biosimilar competition weighs on sales. That erosion may limit how much growth from newer products translates into future results. Sales and biosimilar concerns

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.