Amgen (NASDAQ:AMGN) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Amgen from a buy to a hold, and the broader analyst view now also sits at a consensus Hold with an average target price of $353.81.
• Amgen recently beat quarterly expectations, reporting $5.15 EPS on $8.62 billion in revenue, while also guiding FY 2026 EPS to 21.7–23.1.
• Recent company news has been positive, including European Commission marketing authorization for IMDYLLTRA and new autoimmune data for UPLIZNA and TAVNEOS, which could support future growth.

Amgen (NASDAQ:AMGN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

AMGN has been the topic of a number of other reports. Argus cut their price objective on Amgen from $400.00 to $375.00 and set a "buy" rating on the stock in a report on Wednesday, May 20th. Daiwa Securities Group cut their price objective on Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Piper Sandler cut their price objective on Amgen from $432.00 to $427.00 and set an "overweight" rating on the stock in a report on Thursday, May 14th. Canaccord Genuity Group began coverage on Amgen in a report on Monday, April 20th. They issued a "hold" rating and a $366.00 price objective on the stock. Finally, Guggenheim cut their price objective on Amgen from $351.00 to $340.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Amgen presently has a consensus rating of "Hold" and an average target price of $353.81.

Amgen Stock Performance

Amgen stock opened at $349.58 on Friday. The stock's 50-day moving average is $341.35 and its 200-day moving average is $345.47. The company has a market cap of $188.67 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 3.47 and a beta of 0.42. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. Amgen has a 12 month low of $267.83 and a 12 month high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities analysts anticipate that Amgen will post 22.38 earnings per share for the current year.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.85% of the company's stock.

Institutional Investors Weigh In On Amgen

A number of large investors have recently modified their holdings of the stock. Brighton Jones LLC grew its stake in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Amgen by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock valued at $331,000 after purchasing an additional 114 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in Amgen by 29.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock valued at $7,220,000 after purchasing an additional 5,853 shares in the last quarter. Main Street Financial Solutions LLC grew its stake in Amgen by 11.3% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock valued at $1,141,000 after purchasing an additional 416 shares in the last quarter. Finally, Ieq Capital LLC grew its stake in Amgen by 5.1% during the 2nd quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock valued at $15,120,000 after purchasing an additional 2,611 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen received European Commission marketing authorization for IMDYLLTRA® (tarlatamab) as a monotherapy for adults with extensive-stage small cell lung cancer, expanding a key oncology product into the European market and improving the drug’s commercial outlook. Article Title
• Positive Sentiment: Amgen also showed fresh momentum in autoimmune therapies, with new Phase 3 and real-world data on UPLIZNA and TAVNEOS presented at EULAR 2026, which supports the company’s growing presence in high-value specialty medicine niches. Article Title
• Positive Sentiment: One analyst note upgraded Amgen to a cautious Buy, citing improved fundamentals, a diversified pipeline, and growth drivers such as Imdelltra, Uplizna, Tepezza, and Repatha. Article Title

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.

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