Amgen (NASDAQ:AMGN) Stock Price Target Raised at JPMorgan Chase & Co.

Amgen (NASDAQ:AMGN) had its target price upped by research analysts at JPMorgan Chase & Co. from $350.00 to $425.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 10.79% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Truist Financial lifted their price target on Amgen from $380.00 to $398.00 and gave the company a “hold” rating in a report on Wednesday. Piper Sandler increased their price objective on Amgen from $427.00 to $457.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Morgan Stanley lifted their target price on Amgen from $359.00 to $410.00 and gave the company an “equal weight” rating in a research note on Wednesday. Guggenheim reduced their price target on shares of Amgen from $388.00 to $378.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Finally, Barclays increased their price target on shares of Amgen from $380.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $408.21.

Amgen Trading Up 3.3%

Shares of AMGN stock traded up $15.16 during trading hours on Wednesday, reaching $476.42. 2,674,727 shares of the stock traded hands, compared to its average volume of 2,747,930. Amgen has a 1-year low of $302.13 and a 1-year high of $482.00. The business has a fifty day moving average price of $420.83 and a 200 day moving average price of $376.16. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The firm has a market capitalization of $257.57 billion, a PE ratio of 29.63, a PEG ratio of 3.41 and a beta of 0.43.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, November 3rd. The medical research company reported $6.45 EPS for the quarter, topping analysts’ consensus estimates of $5.79 by $0.66. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same quarter last year, the business posted $5.64 EPS. The company’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that Amgen will post 22.96 EPS for the current year.

Insider Activity

In other news, SVP Rachna Khosla sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,642,098.28. This trade represents a 23.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nancy Grygiel sold 2,970 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. This represents a 28.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 6,222 shares of company stock worth $2,540,926. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings 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 acquiring an additional 2,261,544 shares during the period. State Street Corp increased its position in Amgen by 38.2% during the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock worth $15,283,363,000 after acquiring an additional 11,656,755 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Amgen by 12.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company’s stock valued at $1,952,156,000 after purchasing an additional 605,928 shares during the last quarter. Bank of America Corp DE acquired a new position in Amgen during the 2nd quarter valued at $1,831,903,000. Finally, Amundi boosted its holdings in Amgen by 15.2% in the 2nd quarter. Amundi now owns 3,890,189 shares of the medical research company’s stock valued at $1,408,715,000 after purchasing an additional 512,883 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported adjusted earnings of $6.45 per share, ahead of the $5.79 consensus, and revenue of $10.37 billion, up 8.5% year over year and above estimates. The company also raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and its GAAP EPS outlook to $18.34–$19.28. Article: Q3 Earnings Call Highlights Pipeline and Raised Outlook
• Positive Sentiment: Growth from products including Repatha and IMDELLTRA helped offset headwinds, while clinical progress for IMDELLTRA, TEZSPIRE and dazodalibep adds potential longer-term growth drivers. Investors are also watching for upcoming MariTide obesity-trial data. Article: Amgen Lifts Outlook as Repatha and Imdelltra Offset Biosimilar Hit to Prolia
• Positive Sentiment: Goldman Sachs raised its price target to $536 and reiterated a Buy rating, supporting the bullish view following the results. Article: Goldman Sachs Amgen Rating
• Neutral Sentiment: Analyst views remain divided: some firms lifted targets but kept Hold or Equal Weight ratings, while others’ targets remain below the share price, signaling caution about valuation and upside. Article: Analyst Likes Diversified Business, Awaits MariTide Data
• Negative Sentiment: Declining sales of Prolia and Xgeva, amid biosimilar competition, remain a significant offset to growth elsewhere and have contributed to concerns despite the earnings beat and raised outlook. Article: AMGN Stock Down Despite Q3 Earnings and Raised Guidance

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.