Amgen (NASDAQ:AMGN) Price Target Raised to $460.00 at Argus

Amgen (NASDAQ:AMGN) had its target price hoisted by investment analysts at Argus from $375.00 to $460.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Argus’ price objective suggests a potential upside of 6.63% from the stock’s current price.

AMGN has been the subject of a number of other reports. Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Guggenheim increased their price objective on shares of Amgen from $343.00 to $388.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Royal Bank Of Canada raised their target price on shares of Amgen from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Citigroup upped their price target on shares of Amgen from $345.00 to $405.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Weiss Ratings raised shares of Amgen from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $378.96.

Amgen Price Performance

NASDAQ:AMGN opened at $431.40 on Wednesday. Amgen has a 12-month low of $269.77 and a 12-month high of $432.96. The firm has a market capitalization of $233.23 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 3.86 and a beta of 0.41. The stock’s 50 day moving average price is $373.66 and its two-hundred day moving average price is $360.06. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.62 by $0.67. The company had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, analysts anticipate that Amgen will post 22.78 earnings per share for the current year.

Insiders Place Their Bets

In related 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 transaction of $1,194,415.20. Following the completion of the transaction, the senior vice president directly owned 7,340 shares of the company’s stock, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,222 shares of company stock worth $2,540,926 in the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Amgen

Large investors have recently bought and sold shares of the business. Anfield Capital Management LLC boosted its holdings in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after buying an additional 70 shares in the last quarter. Dogwood Wealth Management LLC raised its stake in Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after buying an additional 55 shares during the period. Tower View Wealth Management LLC boosted its holdings in Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after acquiring an additional 63 shares in the last quarter. Manning & Napier Advisors LLC grew its stake in Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 32 shares during the period. Finally, Ares Financial Consulting LLC bought a new stake in shares of Amgen during the fourth quarter valued at approximately $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen’s latest quarterly results reinforced its growth story: revenue rose 9.5% year over year to $10.05 billion, while adjusted earnings of $6.29 per share exceeded consensus by $0.67. The results and fiscal 2026 earnings guidance of $22.30-$23.50 per share are helping sustain investor confidence. Amgen Results Put Growth Back In Focus
• Positive Sentiment: A Phase 1 study comparing two formulations of evolocumab, Amgen’s cholesterol treatment, provided continued support for the company’s cardiovascular franchise. The update suggests ongoing work to maintain and potentially improve the product’s commercial position. Amgen Evolocumab Formulation Study
• Neutral Sentiment: Amgen rose but underperformed some pharmaceutical peers, indicating that the move was more company-specific than a broad sector rally. Amgen Stock Performance Versus Competitors
• Negative Sentiment: Cantor Fitzgerald and Mizuho raised their Amgen price targets but retained neutral ratings. Their targets of $400 and $352, respectively, remain below the stock’s recent trading level, signaling valuation concerns and potential downside despite improved estimates.
• Negative Sentiment: Amgen exercised its right to terminate a partnership with TScan Therapeutics. Although the financial impact on Amgen was not specified, the decision removes a partnered research opportunity and may raise questions about the company’s external pipeline strategy. TScan Therapeutics Partnership Termination

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.