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

Key Points

• Wall Street Zen upgraded Amgen from “hold” to “buy,” adding to a generally mixed but still constructive analyst backdrop. Other firms recently reiterated or raised targets, and the consensus rating remains “Hold” with a target price around $355.19.
• Amgen reported solid quarterly results, beating earnings and revenue estimates with EPS of $5.15 versus $4.77 expected and revenue of $8.62 billion versus $8.58 billion expected. Revenue rose 5.8% year over year, and the company also issued FY2026 EPS guidance of 21.7 to 23.1.
• Investor attention is also on pipeline and safety headlines: Amgen is expanding its lung cancer research with a new tarlatamab study, but concerns around Tavneos safety in Japan remain a potential sentiment and earnings headwind.

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

Several other brokerages also recently commented on AMGN. Jefferies Financial Group started coverage on shares of Amgen in a research note on Tuesday, March 10th. They issued a "hold" rating and a $350.00 target price for the company. The Goldman Sachs Group upped their target price on shares of Amgen from $415.00 to $425.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Leerink Partners reaffirmed a "market perform" rating and issued a $355.00 target price on shares of Amgen in a research note on Thursday, March 5th. Royal Bank Of Canada upped their target price on shares of Amgen from $360.00 to $370.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $350.00 target price on shares of Amgen in a research note on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $355.19.

Amgen Trading Up 0.6%

AMGN opened at $339.30 on Friday. 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 cap of $183.11 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44. The firm has a 50 day simple moving average of $345.10 and a 200 day simple moving average of $344.38. Amgen has a fifty-two week low of $267.83 and a fifty-two week high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. Amgen's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, sell-side analysts anticipate that Amgen will post 22.37 earnings per share for the current year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the transaction, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen expanded its lung cancer pipeline by launching a phase 1b study testing a tarlatamab combination in small cell lung cancer, which could improve the company’s oncology growth prospects if the data are encouraging. Amgen Expands Lung Cancer Pipeline With New Tarlatamab Combo Study
• Positive Sentiment: Several reports highlighted Amgen as a long-term value/dividend and pipeline story, citing upside potential and analyst support such as an Overweight rating from Piper Sandler, reinforcing confidence in the company’s revenue growth outlook. Why Wall Street Thinks This Dividend Stock Could Jump 30%
• Positive Sentiment: Amgen shareholders reaffirmed the board, executive pay and auditors, which signals governance stability and removes a potential overhang. Amgen Shareholders Reaffirm Board, Pay and Auditors
• Neutral Sentiment: Amgen appointed Thomas Dittrich as chief financial officer, a management update that should be watched for any strategic or capital-allocation changes, but is not clearly a near-term stock catalyst. CFOs On the Move: Week ending May 22
• Negative Sentiment: Investor focus remains on safety concerns around Tavneos after reported patient deaths in Japan prompted restrictions on new prescriptions and raised the risk of withdrawal requests in the U.S., creating a potential earnings and sentiment headwind for Amgen. A Look At Amgen (AMGN) Valuation As Tavneos Safety Concerns And Withdrawal Requests Escalate
• Negative Sentiment: News that doctors in Japan could again prescribe Tavneos to new patients only partially eases concerns, because the drug still carries liver-injury warnings and the broader safety controversy may continue to pressure sentiment. Doctors in Japan can again prescribe an Amgen rare-disease drug to new patients, reversing a recommendation made only days ago following 20 deaths

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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