Amgen (NASDAQ:AMGN) Reaches New 1-Year High on Analyst Upgrade

Key Points

• Amgen shares reached a new 52-week high, trading as high as $422.94 after Cantor Fitzgerald raised its price target from $350 to $400 while maintaining a neutral rating.
• Recent quarterly results exceeded expectations, with EPS of $6.29 versus the $5.62 consensus and revenue of $10.05 billion, up 9.5% year over year. Amgen maintained its 2026 earnings guidance of $22.30–$23.50 per share.
• Despite bullish ratings from some analysts, the overall consensus remains “Hold,” with an average price target of $375.93—below the stock’s recent trading level. Company insiders have also sold more than $2.5 million of shares over the past 90 days.

Amgen Inc. (NASDAQ:AMGN - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday after Cantor Fitzgerald raised their price target on the stock from $350.00 to $400.00. Cantor Fitzgerald currently has a neutral rating on the stock. Amgen traded as high as $422.94 and last traded at $423.9560, with a volume of 6533 shares changing hands. The stock had previously closed at $419.38.

Several other equities analysts also recently weighed in on AMGN. Truist Financial lifted their target price on Amgen from $340.00 to $362.00 and gave the company a "hold" rating in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $389.00 price target on shares of Amgen in a research report on Friday, June 5th. Piper Sandler restated an "overweight" rating on shares of Amgen in a report on Friday, June 12th. BMO Capital Markets upped their target price on shares of Amgen from $400.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Finally, Oppenheimer increased their target price on shares of Amgen from $400.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $375.93.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,252 shares of Amgen stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction on Thursday, August 6th. The shares were 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 directly owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 6,222 shares of company stock valued at $2,540,926. Corporate insiders own 0.85% of the company's stock.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen completed a Phase 1 study comparing two formulations of evolocumab, its cholesterol-lowering treatment. The update provides continued support for the company’s established cardiovascular franchise, although further data will be needed to assess commercial significance. Amgen’s Evolocumab Formulation Study Signals Steady Support for Its Cholesterol Franchise
• Positive Sentiment: Recent operating momentum remains a backdrop for the stock: Amgen’s latest quarterly results exceeded consensus estimates for both earnings and revenue, with revenue increasing 9.5% year over year. The company maintained fiscal 2026 earnings guidance of $22.30 to $23.50 per share.
• Neutral Sentiment: Cantor Fitzgerald raised its Amgen price target from $350 to $400 but kept a “neutral” rating. The higher target reflects improved valuation assumptions, but it remains below the stock’s recent trading level. Benzinga
• Negative Sentiment: Mizuho also lifted its target, from $303 to $352, while retaining a “neutral” rating. The target implies substantial downside from the current level, reinforcing concerns that Amgen’s recent rally may have outpaced analyst expectations. Benzinga

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Brighton Jones LLC grew its position in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after buying an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Amgen by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock valued at $331,000 after acquiring an additional 114 shares in the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of Amgen by 29.3% during the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock worth $7,220,000 after purchasing an additional 5,853 shares during the last quarter. Main Street Financial Solutions LLC increased its position in shares of Amgen by 11.3% during the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock worth $1,141,000 after purchasing an additional 416 shares in the last quarter. Finally, Ieq Capital LLC lifted its holdings in shares of Amgen by 5.1% in 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 during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Price Performance

The firm has a market capitalization of $228.93 billion, a PE ratio of 26.30, a P/E/G ratio of 3.86 and a beta of 0.41. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The company has a fifty day moving average price of $372.05 and a two-hundred day moving average price of $359.47.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 124.14% and a net margin of 22.95%.The firm's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Sell-side analysts forecast that Amgen Inc. will post 22.78 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a dividend of $2.52 per share. The ex-dividend date is Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.4%. Amgen's dividend payout ratio (DPR) is 62.65%.

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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