Amgen (NASDAQ:AMGN) Price Target Raised to $450.00

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

Several other research firms have also commented on AMGN. Royal Bank Of Canada restated a “positive” rating on shares of Amgen in a research report on Thursday, June 18th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $350.00 target price on shares of Amgen in a research note on Monday, July 6th. Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. Wall Street Zen downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Daiwa Securities Group dropped their target price on Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $358.92.

Amgen Price Performance

Shares of AMGN opened at $390.63 on Wednesday. The business’s 50-day moving average is $358.49 and its two-hundred day moving average is $354.79. The company has a market capitalization of $210.83 billion, a P/E ratio of 27.18, a P/E/G 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. Amgen has a fifty-two week low of $269.77 and a fifty-two week high of $398.00.

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, beating the consensus estimate of $5.62 by $0.67. Amgen had a return on equity of 137.41% and a net margin of 20.96%.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 previous year, the firm posted $6.02 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Research analysts predict that Amgen will post 22.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMGN. Brighton Jones LLC lifted its stake in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Amgen by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock valued at $331,000 after purchasing an additional 114 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of Amgen by 29.3% in the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company’s stock valued at $7,220,000 after purchasing an additional 5,853 shares during the last quarter. Main Street Financial Solutions LLC increased its holdings in shares of Amgen by 11.3% in the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company’s stock valued at $1,141,000 after purchasing an additional 416 shares during the last quarter. Finally, Ieq Capital LLC lifted its position in Amgen by 5.1% during the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company’s stock worth $15,120,000 after buying an additional 2,611 shares in the last quarter. Hedge funds and other 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.