Amgen (NASDAQ:AMGN) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded Amgen to a "Buy" from "Hold", a notable analyst upgrade amid mixed analyst coverage — the street consensus remains "Hold" with an average price target of $355.84.
• Amgen beat quarterly estimates, reporting $5.29 EPS (vs. $4.76 expected) and $9.87B revenue (vs. $9.46B), and set FY2026 guidance of $21.60–$23.00 EPS, bolstering its fundamental outlook.
• Near‑term commercial catalysts include China approval of tarlatamab for lung cancer and positive study updates (FORWARD II), while some institutions (e.g., RBC) have raised price targets, signaling potential revenue upside.

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

Other equities analysts have also issued research reports about the company. Citigroup upped their price target on Amgen from $315.00 to $345.00 and gave the company a "neutral" rating in a research note on Wednesday, February 4th. Guggenheim upped their price target on Amgen from $347.00 to $351.00 and gave the company a "neutral" rating in a research note on Thursday. Freedom Capital lowered Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Leerink Partners reaffirmed a "market perform" rating and set a $355.00 price target on shares of Amgen in a research note on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Amgen in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $355.84.

Amgen Trading Down 1.3%

Shares of AMGN opened at $350.92 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 5.78. Amgen has a 12-month low of $261.43 and a 12-month high of $391.29. The firm has a market capitalization of $189.39 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 3.53 and a beta of 0.47. The stock's fifty day simple moving average is $363.87 and its 200-day simple moving average is $334.75.

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

Institutional Investors Weigh In On Amgen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Sequoia Financial Advisors LLC grew its holdings in shares of Amgen by 2.3% during the third 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 in the last quarter. Davis Capital Management acquired a new position in Amgen during the third quarter valued at approximately $1,841,000. D.A. Davidson & CO. boosted its position in Amgen by 2.6% during the third quarter. D.A. Davidson & CO. now owns 243,054 shares of the medical research company's stock valued at $68,590,000 after purchasing an additional 6,222 shares during the last quarter. Global Wealth Management Investment Advisory Inc. boosted its position in Amgen by 56.2% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 13,056 shares of the medical research company's stock valued at $3,684,000 after purchasing an additional 4,699 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Amgen by 18.2% during the third quarter. Jones Financial Companies Lllp now owns 39,778 shares of the medical research company's stock valued at $10,888,000 after purchasing an additional 6,115 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: China approval for tarlatamab expands Amgen’s lung-cancer market access and supports future revenue in a large oncology market — a meaningful commercial win for a new oncology asset. Amgen's lung cancer drug tarlatamab wins China approval
• Positive Sentiment: Phase‑4 FORWARD II gout study update: a less‑frequent Krystexxa dosing schedule could improve patient adherence and lifetime drug value, which would be positive for product uptake and revenue stability. Amgen’s FORWARD II Gout Study
• Positive Sentiment: Analyst bullishness on fundamentals: Zacks argues Amgen is poised to beat earnings again, supported by its recent history of surprise results and solid guidance — this can underpin near‑term sentiment ahead of the next report. Why Amgen (AMGN) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Royal Bank of Canada raised its price target to $370, signaling upside from some institutional analysts and suggesting conviction in Amgen’s mid‑term growth drivers. Royal Bank Of Canada Increases Amgen Price Target
• Neutral Sentiment: Guggenheim nudged its target to $351 while retaining a neutral rating — little immediate directional impact given the price is near that level. Amgen Price Target Raised to $351 at Guggenheim
• Neutral Sentiment: Short‑interest data reported for April appears inconsistent/erroneous (reads as 0 shares / NaN increase), so it’s unlikely to be a reliable driver of today’s action. (data entry)
• Neutral Sentiment: Media pieces highlighting Amgen’s profitability and recent TEPEZZA subcutaneous Phase‑3 topline results reinforce the company’s longer‑term value story but are incremental to near‑term price moves. Is Amgen One of the Most Profitable Value Stocks?
• Negative Sentiment: Morgan Stanley’s latest stance (equal‑weight, target raised only to $326) and other hold ratings emphasize limited near‑term upside vs. current levels — that analyst positioning is weighing on the stock. Morgan Stanley equal weight on Amgen

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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