Amgen (NASDAQ:AMGN) Price Target Raised to $400.00

Amgen (NASDAQ:AMGN) had its price objective increased by Wells Fargo & Company from $390.00 to $400.00 in a research report sent to investors on Wednesday, Marketbeat.com reports. Wells Fargo & Company currently has an equal weight rating on the medical research company’s stock.

AMGN has been the subject of a number of other reports. Erste Group Bank reissued a “hold” rating on shares of Amgen in a research note on Tuesday, May 5th. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. BMO Capital Markets lifted their target price on Amgen from $400.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley dropped their price objective on Amgen from $340.00 to $333.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Finally, Canaccord Genuity Group began coverage on Amgen in a research report on Monday, April 20th. They set a “hold” rating and a $366.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Amgen has an average rating of “Hold” and a consensus price target of $370.07.

Amgen Stock Up 1.5%

AMGN opened at $410.95 on Wednesday. The business’s 50-day moving average price is $362.77 and its 200-day moving average price is $356.24. The company has a current ratio of 1.37, a quick ratio of 1.01 and a debt-to-equity ratio of 4.44. Amgen has a 12 month low of $269.77 and a 12 month high of $418.40. The company has a market cap of $221.79 billion, a P/E ratio of 25.54, a P/E/G ratio of 3.77 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last released 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. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business had revenue of $10.05 billion for the quarter, compared to analysts’ expectations of $9.43 billion. During the same quarter in the previous year, the business posted $6.02 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities analysts expect that Amgen will post 22.73 EPS for the current year.

Amgen Dividend Announcement

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

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the transaction, the senior vice president 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 filing with the SEC, which is available through the SEC website. 0.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Amgen

Several large investors have recently bought and sold shares of AMGN. Vanguard Group Inc. grew its stake in shares of Amgen by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock worth $17,949,296,000 after purchasing an additional 961,975 shares in the last quarter. BlackRock Inc. increased its stake in shares of Amgen by 4.8% during the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock worth $17,874,974,000 after acquiring an additional 2,261,544 shares during the period. State Street Corp raised its position in 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 in the last quarter. Capital World Investors increased its stake in Amgen by 22.9% in the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Amgen by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after buying an additional 1,035,779 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Key Headlines Impacting Amgen

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.