Amgen (NASDAQ:AMGN) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised its price target on Amgen to $370 (from $360) and kept an "outperform" rating, implying about a 9.4% upside from the prior close.
• Analyst coverage is mixed: the consensus rating is "Hold" with an average price target of $355, while individual targets span roughly $315–$400 and include 1 Strong Buy, 14 Buy, 13 Hold and 2 Sell ratings.
• Amgen beat quarterly expectations with $5.29 EPS vs. $4.76 estimated and $9.87B revenue vs. $9.46B expected, set FY2026 EPS guidance of 21.60–23.00, and trades around $338 with a ~$182.4B market cap.

Amgen (NASDAQ:AMGN - Get Free Report) had its price target hoisted by research analysts at Royal Bank Of Canada from $360.00 to $370.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm currently has an "outperform" rating on the medical research company's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 9.36% from the company's previous close.

A number of other brokerages also recently issued reports on AMGN. Wells Fargo & Company boosted their price target on shares of Amgen from $375.00 to $390.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 19th. Sanford C. Bernstein lowered shares of Amgen from an "outperform" rating to a "market perform" rating and set a $335.00 price target for the company. in a research note on Tuesday, January 20th. Daiwa Securities Group boosted their price target on shares of Amgen from $370.00 to $410.00 and gave the company an "outperform" rating in a research note on Tuesday, February 10th. Cantor Fitzgerald boosted their price target on shares of Amgen from $315.00 to $350.00 and gave the company a "neutral" rating in a research note on Wednesday, February 4th. Finally, Oppenheimer set a $400.00 target price on shares of Amgen and gave the stock an "outperform" rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $355.00.

Amgen Stock Performance

Shares of AMGN opened at $338.33 on Tuesday. Amgen has a 12 month low of $261.43 and a 12 month high of $391.29. The firm has a fifty day simple moving average of $363.51 and a 200 day simple moving average of $333.65. The stock has a market capitalization of $182.39 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 3.45 and a beta of 0.47. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 5.78.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, February 3rd. The medical research company reported $5.29 EPS for the quarter, topping the consensus estimate of $4.76 by $0.53. Amgen had a net margin of 20.98% and a return on equity of 148.37%. The business had revenue of $9.87 billion during the quarter, compared to analysts' expectations of $9.46 billion. During the same quarter in the prior year, the company posted $5.31 earnings per share. The firm's revenue was up 8.6% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. Research analysts forecast that Amgen will post 20.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its position in Amgen by 2.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 160,646 shares of the medical research company's stock worth $45,334,000 after buying an additional 3,619 shares during the last quarter. Davis Capital Management purchased a new position in Amgen in the 3rd quarter worth about $1,841,000. D.A. Davidson & CO. raised its position in Amgen by 2.6% in the 3rd quarter. D.A. Davidson & CO. now owns 243,054 shares of the medical research company's stock worth $68,590,000 after buying an additional 6,222 shares during the last quarter. Global Wealth Management Investment Advisory Inc. raised its position in Amgen by 56.2% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 13,056 shares of the medical research company's stock worth $3,684,000 after buying an additional 4,699 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in Amgen by 18.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 39,778 shares of the medical research company's stock worth $10,888,000 after buying an additional 6,115 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

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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