Amgen (NASDAQ:AMGN) Price Target Raised to $317.00

Amgen (NASDAQ:AMGN) had its price objective increased by research analysts at Bank of America from $312.00 to $317.00 in a note issued to investors on Wednesday. The firm presently has an “underperform” rating on the medical research company’s stock. Bank of America‘s target price indicates a potential downside of 18.85% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald restated a “neutral” rating and set a $350.00 price target on shares of Amgen in a research note on Monday, July 6th. Barclays upped their price target on Amgen from $350.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. Daiwa Securities Group reduced their price objective on Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. The Goldman Sachs Group set a $389.00 target price on shares of Amgen in a research report on Friday, June 5th. Finally, Royal Bank Of Canada reaffirmed a “positive” rating on shares of Amgen in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $361.30.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $390.63 on Wednesday. The stock’s 50-day simple moving average is $358.49 and its two-hundred day simple moving average is $354.79. Amgen has a twelve month low of $269.77 and a twelve month high of $398.00. The firm 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 quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65.

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

Hedge Funds Weigh In On Amgen

A number of large investors have recently added to or reduced their stakes in the stock. North Dakota State Investment Board boosted its stake in Amgen by 0.3% during the 2nd quarter. North Dakota State Investment Board now owns 15,994 shares of the medical research company’s stock worth $5,792,000 after purchasing an additional 50 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Amgen in the first quarter valued at approximately $655,000. Aviso Wealth Management grew its holdings in Amgen by 3.1% in the 2nd quarter. Aviso Wealth Management now owns 2,681 shares of the medical research company’s stock valued at $971,000 after buying an additional 80 shares in the last quarter. Investment Research Partners LLC raised its holdings in shares of Amgen by 6.1% during the 2nd quarter. Investment Research Partners LLC now owns 3,890 shares of the medical research company’s stock worth $1,409,000 after acquiring an additional 224 shares during the period. Finally, 71 West Capital Partners raised its holdings in shares of Amgen by 58.8% during the 2nd quarter. 71 West Capital Partners now owns 3,626 shares of the medical research company’s stock worth $1,313,000 after acquiring an additional 1,343 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Key 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.