Canaccord Genuity Group Boosts Amgen (NASDAQ:AMGN) Price Target to $384.00

Amgen (NASDAQ:AMGN) had its target price boosted by investment analysts at Canaccord Genuity Group from $366.00 to $384.00 in a research report issued on Wednesday. The brokerage currently has a “hold” rating on the medical research company’s stock. Canaccord Genuity Group’s target price points to a potential downside of 1.70% from the stock’s previous close.

A number of other analysts have also recently weighed in on AMGN. Erste Group Bank restated a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. The Goldman Sachs Group set a $389.00 target price on Amgen in a report on Friday, June 5th. Daiwa Securities Group reduced their target price on Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Wells Fargo & Company lifted their price target on Amgen from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Royal Bank Of Canada reiterated a “positive” rating on shares of Amgen in a report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $361.30.

Amgen Stock Up 3.1%

AMGN 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. Amgen has a 12 month low of $269.77 and a 12 month high of $398.00. The stock’s 50 day moving average price is $358.49 and its 200 day moving average price is $354.79. The stock has a market cap 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.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. During the same period in the previous year, the firm earned $6.02 EPS. Amgen’s revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, research analysts predict that Amgen will post 22.31 earnings per share for the current year.

Institutional Investors Weigh In On Amgen

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC raised its stake in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Amgen by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock worth $331,000 after buying an additional 114 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Amgen by 29.3% during the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company’s stock worth $7,220,000 after purchasing an additional 5,853 shares in the last quarter. Main Street Financial Solutions LLC grew its stake in shares of Amgen by 11.3% during 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 increased its holdings in shares of Amgen by 5.1% in the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company’s stock valued at $15,120,000 after purchasing an additional 2,611 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen News Roundup

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.