Amgen (NASDAQ:AMGN) Price Target Raised to $230.00

Key Points

• Robert W. Baird raised Amgen’s price target to $230 from $215 but maintained an “underperform” rating, implying roughly 41% downside from the stock’s $390.63 price. Overall analyst sentiment remains “Hold,” with an average target of $361.30.
• Amgen exceeded quarterly expectations, reporting $6.29 in adjusted EPS versus $5.62 expected and $10.05 billion in revenue versus $9.43 billion estimated. Revenue increased 9.5% year over year, and the company provided fiscal 2026 EPS guidance of $22.30–$23.50.
• The company’s pipeline, including the experimental obesity treatment MariTide, remains a potential growth catalyst, although high leverage, a separate obesity-program setback, cybersecurity concerns and regulatory scrutiny create risks.

Amgen (NASDAQ:AMGN - Get Free Report) had its price objective boosted by equities researchers at Robert W. Baird from $215.00 to $230.00 in a research note issued on Wednesday. The brokerage presently has an "underperform" rating on the medical research company's stock. Robert W. Baird's target price would suggest a potential downside of 41.12% from the stock's current price.

A number of other analysts also recently weighed in on the stock. The Goldman Sachs Group set a $389.00 target price on shares of Amgen in a research report on Friday, June 5th. Barclays upped their price objective on shares of Amgen from $350.00 to $360.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 29th. Mizuho increased their price objective on shares of Amgen from $295.00 to $303.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 16th. Bank of America lifted their target price on shares of Amgen from $312.00 to $317.00 and gave the stock an "underperform" rating in a research note on Wednesday. Finally, Canaccord Genuity Group boosted their target price on shares of Amgen from $366.00 to $384.00 and gave the company a "hold" rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $361.30.

Amgen Trading Up 3.1%

Shares of NASDAQ:AMGN opened at $390.63 on Wednesday. The business's 50 day simple moving average is $358.49 and its 200 day simple moving average is $354.79. Amgen has a 1 year low of $269.77 and a 1 year high of $398.00. 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 company has a market capitalization of $210.83 billion, a P/E ratio of 27.18, a P/E/G ratio of 3.83 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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 business 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 137.41% and a net margin of 20.96%.Amgen's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the company earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, research analysts anticipate that Amgen will post 22.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Amgen

Hedge funds and other institutional investors have recently bought and sold shares of the business. High Note Wealth LLC lifted its holdings in shares of Amgen by 5.8% in the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock worth $166,000 after buying an additional 28 shares in the last quarter. TAGStone Capital Inc. grew its stake in Amgen by 0.7% during the fourth quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company's stock valued at $1,351,000 after acquiring an additional 28 shares in the last quarter. Verus Capital Partners LLC grew its stake in Amgen by 2.3% during the fourth quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company's stock valued at $403,000 after acquiring an additional 28 shares in the last quarter. Destination Wealth Management increased its holdings in Amgen by 2.1% during the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company's stock worth $456,000 after acquiring an additional 29 shares during the period. Finally, Breakwater Capital Group increased its holdings in Amgen by 1.4% during the 1st quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company's stock worth $717,000 after acquiring an additional 29 shares during the period. Institutional investors own 76.50% of the company's stock.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q2 results exceeded expectations: Adjusted earnings were $6.29 per share versus the $5.62 consensus, while revenue rose 9.5% year over year to $10.05 billion, beating estimates of $9.43 billion. The company cited broad-based demand, with 22 products delivering double-digit sales growth. Amgen second-quarter sales rise 9%, profit tops Street view
• Positive Sentiment: Full-year guidance was raised: Amgen now expects 2026 revenue of $38.2 billion to $39.4 billion, above the previous outlook and ahead of Wall Street’s estimate. Stronger sales of Repatha, Evenity and rare-disease medicines are helping offset declines in Prolia and XGEVA. Amgen Lifts Outlook on Strong Drug Sales
• Positive Sentiment: Pipeline and analyst confidence remain supportive: William Blair reiterated a Buy rating, pointing to late-stage pipeline catalysts and portfolio growth. Amgen also continues development of MariTide, its experimental obesity treatment, and extended a Phase 3 obesity study, preserving a potential long-term growth opportunity. Analyst Maintains Buy on Amgen
• Neutral Sentiment: Amgen generated $3.5 billion in free cash flow and held $14 billion in cash at quarter-end, supporting financial flexibility. However, the company’s high leverage and valuation may limit further gains if growth expectations are already reflected in the stock.
• Negative Sentiment: Cybersecurity and regulatory risks could weigh on sentiment: Amgen disclosed a data breach involving patient and proprietary information, and a law firm has launched a class-action investigation. Regulators are also reviewing data supporting Tavneos after the retraction of a pivotal publication, creating potential legal, reputational and commercial risks. Amgen data breach class-action investigation
• Negative Sentiment: Amgen is ending early development of another Phase 1 obesity treatment, reducing the breadth of its weight-loss pipeline, even though MariTide remains in development.

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.

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