Amgen (NASDAQ:AMGN) Price Target Raised to $440.00

Amgen (NASDAQ:AMGN) had its price target upped by UBS Group from $420.00 to $440.00 in a research note released on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the medical research company’s stock.

AMGN has been the subject of a number of other research reports. Freedom Capital raised Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Piper Sandler reissued an “overweight” rating on shares of Amgen in a research report on Friday, June 12th. Scotiabank lifted their price objective on shares of Amgen from $385.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley upped their price objective on shares of Amgen from $333.00 to $351.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, TD Cowen raised their target price on shares of Amgen from $420.00 to $452.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $370.07.

Amgen Price Performance

NASDAQ AMGN opened at $410.95 on Wednesday. The company has a market cap of $221.79 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 3.77 and a beta of 0.41. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.01. The stock’s fifty day moving average price is $362.77 and its 200 day moving average price is $356.24. Amgen has a 1 year low of $269.77 and a 1 year high of $418.40.

Amgen (NASDAQ:AMGN) last issued 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. The company had revenue of $10.05 billion during the quarter, compared to analysts’ expectations of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The firm’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, equities research analysts forecast that Amgen will post 22.73 earnings per share 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 issued 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 dividend yield of 2.5%. Amgen’s dividend payout ratio is presently 62.65%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Amgen

Several hedge funds and other institutional investors have recently modified their holdings of AMGN. Norges Bank purchased a new stake in Amgen during the 4th quarter valued at about $2,164,162,000. Capital World Investors lifted 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 worth $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. BlackRock Inc. lifted its stake in Amgen by 4.8% in the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock worth $17,874,974,000 after purchasing an additional 2,261,544 shares in the last quarter. State Street Corp boosted its holdings in shares of Amgen by 4.4% during the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock worth $10,012,872,000 after purchasing an additional 1,287,310 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Amgen by 7.8% in the fourth 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 purchasing an additional 1,035,779 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Key Stories 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.