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

Amgen (NASDAQ:AMGN) had its price objective lifted by stock analysts at UBS Group from $420.00 to $440.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. UBS Group’s price objective suggests a potential upside of 7.89% from the company’s current price.

A number of other analysts have also weighed in on the company. Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. TD Cowen boosted their target price on Amgen from $420.00 to $452.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings downgraded Amgen from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 15th. Barclays increased their price target on Amgen from $350.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley boosted their price objective on Amgen from $333.00 to $351.00 and gave the stock an “equal weight” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $367.57.

Amgen Stock Up 4.6%

Shares of NASDAQ AMGN traded up $17.81 during midday trading on Wednesday, hitting $407.83. The company’s stock had a trading volume of 5,560,324 shares, compared to its average volume of 2,756,878. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The firm has a market capitalization of $220.11 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 3.83 and a beta of 0.41. The business’s fifty day simple moving average is $358.49 and its two-hundred day simple moving average is $354.79. Amgen has a 1 year low of $269.77 and a 1 year high of $416.24.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMGN. Vanguard Group Inc. raised its holdings in Amgen by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock worth $17,949,296,000 after purchasing an additional 961,975 shares in the last quarter. State Street Corp boosted its holdings in shares of Amgen by 4.4% in the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock valued at $10,012,872,000 after buying an additional 1,287,310 shares in the last quarter. Capital World Investors grew its position in shares of Amgen by 22.9% in the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after buying an additional 4,302,237 shares during the last quarter. Geode Capital Management LLC raised its stake in Amgen by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock worth $4,665,822,000 after acquiring an additional 1,035,779 shares in the last quarter. Finally, Norges Bank acquired a new stake in Amgen during the 4th quarter worth $2,164,162,000. Hedge funds and other 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: Q2 results exceeded expectations: Adjusted EPS was $6.29 versus the approximately $5.60–$5.62 consensus, while revenue rose 9.5% year over year to $10.05 billion, above estimates near $9.43 billion. Amgen second-quarter sales rise 9%, profit tops Street view
• Positive Sentiment: Guidance was raised: Amgen now expects 2026 revenue of $38.2 billion to $39.4 billion, compared with a prior outlook near $37.2 billion to $38.4 billion. The midpoint is above Wall Street expectations, reinforcing confidence in the company’s commercial momentum. Amgen Hikes Sales Outlook By $1 Billion After Second-Quarter Smash
• Positive Sentiment: Newer products drove growth: Repatha and EVENITY sales increased 37% and 38%, respectively, and 22 products posted double-digit sales growth. Management also highlighted cash generation and continued investment in its late-stage pipeline, including obesity candidate MariTide.
• Positive Sentiment: Several analysts raised targets: BMO Capital Markets, Scotiabank and Oppenheimer lifted their targets to $450 and maintained bullish ratings. William Blair also reiterated a Buy rating, citing the earnings beat, raised outlook and pipeline catalysts.
• Neutral Sentiment: Analyst views remain mixed: Morgan Stanley, Wells Fargo, Canaccord and Truist raised targets but retained Hold or Equal Weight ratings. Some targets remain below the current trading level, suggesting valuation has become a key debate after the rally.
• Negative Sentiment: Legacy-product pressure persists: Prolia and XGEVA sales declined 32% and 34%, respectively, because of biosimilar competition. Amgen also halted early development of a Phase 1 obesity treatment, although its separate MariTide program remains active.
• Negative Sentiment: Additional risk factors remain: Reports of a patient-data breach and a review of clinical data supporting Tavneos could create legal, regulatory and reputational exposure.

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.