Amgen (NASDAQ:AMGN) Price Target Raised to $309.00

Amgen (NASDAQ:AMGN) had its price target upped by Morgan Stanley from $304.00 to $309.00 in a research note published on Wednesday morning, MarketBeat.com reports. They currently have an equal weight rating on the medical research company’s stock.

A number of other brokerages have also recently weighed in on AMGN. Guggenheim raised their target price on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Piper Sandler raised their price objective on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Cantor Fitzgerald boosted their target price on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. BMO Capital Markets upped their target price on Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Finally, Oppenheimer set a $400.00 price target on Amgen and gave the stock an “outperform” rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $351.65.

Amgen Price Performance

NASDAQ:AMGN opened at $384.20 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.14 and a debt-to-equity ratio of 5.78. The business’s 50-day moving average price is $334.45 and its 200 day moving average price is $311.45. Amgen has a 52-week low of $261.43 and a 52-week high of $385.12. The firm has a market cap of $206.88 billion, a P/E ratio of 27.00, a PEG ratio of 3.73 and a beta of 0.46.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share for the quarter, beating analysts’ consensus estimates of $4.76 by $0.53. The company had revenue of $9.87 billion during the quarter, compared to the consensus estimate of $9.46 billion. Amgen had a net margin of 20.98% and a return on equity of 148.37%. Amgen’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $5.31 EPS. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. As a group, sell-side analysts predict that Amgen will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $10.08 annualized dividend and a yield of 2.6%. This is an increase from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio (DPR) is currently 66.90%.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares in the company, valued at $2,436,703.50. This represents a 30.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the sale, the executive vice president directly owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,908 shares of company stock valued at $3,674,966 in the last 90 days. 0.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Amgen

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dogwood Wealth Management LLC raised its stake in shares of Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $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% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after buying an additional 70 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in Amgen in the fourth quarter worth approximately $26,000. Legacy Investment Solutions LLC bought a new position in Amgen during the second quarter valued at approximately $27,000. Finally, Manning & Napier Advisors LLC lifted its stake in Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 32 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Argus raised its price target to $400 and reiterated a Buy rating, signaling analyst confidence in Amgen’s outlook and providing fresh positive momentum for the stock. Read More.
• Positive Sentiment: Q4 results beat Street estimates and management’s commentary pushed the shares to a new 12‑month high — the earnings beat and upgraded FY‑2026 guidance underpin the rally. Read More.
• Positive Sentiment: Clinical progress: Amgen advanced xaluritamig into a first‑in‑human Phase 1b trial for hard‑to‑treat Ewing sarcoma — a development that adds long‑term pipeline upside if the program shows activity. Read More.
• Positive Sentiment: Post‑marketing safety study for IMLYGIC in melanoma reached completion — reduces an uncertainty from the label/safety perspective and may support that asset’s commercial outlook. Read More.
• Neutral Sentiment: Guggenheim raised its price target to $347 but kept a Neutral rating; the new PT still implies downside versus the current price, creating mixed signals for investors. Read More.
• Neutral Sentiment: Deutsche Bank moved its target to $295 and maintained a Hold — another measured call that tempers the enthusiasm from Buy-rated upgrades. Read More.
• Neutral Sentiment: Market commentary notes rotation into defensive/health names and institutional buying as contributors to the stock’s move to multi‑month highs — a broader-market technical tailwind rather than company‑specific news. Read More.
• Negative Sentiment: CVS said it will replace Amgen’s and Lilly’s bone‑disease treatments with lower‑cost alternatives on some preferred drug lists starting April 1 — a material commercial headwind for the affected product sales. Read More.

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.