Amgen (NASDAQ:AMGN) Price Target Raised to $450.00

Amgen (NASDAQ:AMGN) had its target price boosted by Oppenheimer from $400.00 to $450.00 in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The firm currently has an outperform rating on the medical research company’s stock.

Other equities research analysts also recently issued research reports about the stock. Truist Financial lifted their price target on shares of Amgen from $327.00 to $340.00 and gave the stock a “hold” rating in a research note on Tuesday, July 7th. Guggenheim boosted their price objective on Amgen from $340.00 to $343.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Weiss Ratings downgraded shares of Amgen from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 15th. BMO Capital Markets boosted their price objective on shares of Amgen from $400.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Canaccord Genuity Group raised their target price on shares of Amgen from $366.00 to $384.00 and gave the company a “hold” 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 given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $370.07.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $410.95 on Wednesday. The stock’s fifty day simple moving average is $362.77 and its 200 day simple moving average is $356.24. The company has a quick ratio of 1.01, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The stock has a market capitalization of $221.79 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 3.77 and a beta of 0.41. Amgen has a 52-week low of $269.77 and a 52-week high of $418.40.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The firm had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same period last year, the company posted $6.02 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, sell-side analysts forecast that Amgen will post 22.73 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, August 21st. Amgen’s dividend payout ratio is currently 62.65%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the company’s 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 of the company’s stock, valued at $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Amgen

Hedge funds have recently added to or reduced their stakes in the business. Alpine Woods Capital Investors LLC increased its position in Amgen by 8.5% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 25,029 shares of the medical research company’s stock valued at $9,064,000 after buying an additional 1,965 shares in the last quarter. Aegis Wealth Management LLC bought a new position in Amgen in the second quarter worth approximately $783,000. Argyle Capital Partners LLC grew its stake in Amgen by 5.5% in the second quarter. Argyle Capital Partners LLC now owns 4,851 shares of the medical research company’s stock valued at $1,756,000 after acquiring an additional 254 shares during the period. Quent Capital LLC increased its holdings in shares of Amgen by 2.1% during the second quarter. Quent Capital LLC now owns 6,535 shares of the medical research company’s stock valued at $2,366,000 after acquiring an additional 132 shares in the last quarter. Finally, Focused Alpha LLC increased its holdings in shares of Amgen by 9.3% during the second quarter. Focused Alpha LLC now owns 3,561 shares of the medical research company’s stock valued at $1,289,000 after acquiring an additional 302 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

More Amgen News

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.