Amgen (NASDAQ:AMGN - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.
AMGN has been the topic of a number of other reports. Barclays raised 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. Truist Financial increased their price target on Amgen from $340.00 to $362.00 and gave the company a "hold" rating in a research note on Wednesday. Sanford C. Bernstein raised their price target on Amgen from $335.00 to $345.00 and gave the stock a "market perform" rating in a research report on Thursday. Scotiabank lifted their price objective on Amgen from $385.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, BMO Capital Markets upped their price objective on Amgen from $400.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $370.07.
Get Our Latest Stock Report on Amgen
Amgen Stock Performance
Amgen stock opened at $410.95 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.01 and a debt-to-equity ratio of 4.44. Amgen has a 1 year low of $269.77 and a 1 year high of $418.40. The company has a market cap of $221.79 billion, a PE ratio of 25.54, a PEG ratio of 3.77 and a beta of 0.41. The company's 50-day moving average is $362.77 and its two-hundred day moving average is $356.24.
Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.62 by $0.67. The company had revenue of $10.05 billion during the quarter, compared to analysts' expectations of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. Amgen's revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities analysts anticipate that Amgen will post 22.73 earnings per share for the current year.
Insider Buying and Selling at Amgen
In other news, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the transaction, the senior vice president directly owned 7,340 shares of the company's stock, valued at $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. boosted its position in shares of Amgen by 10.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company's stock worth $157,584,000 after purchasing an additional 43,884 shares in the last quarter. Curtis Advisory Group LLC bought a new stake in Amgen in the 4th quarter valued at about $1,669,000. Adell Harriman & Carpenter Inc. raised its stake in Amgen by 7.9% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company's stock worth $7,204,000 after buying an additional 1,609 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Amgen during the 4th quarter worth approximately $22,441,000. Finally, Sigma Planning Corp raised its stake in Amgen by 24.0% during the 4th quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company's stock worth $5,889,000 after buying an additional 3,488 shares during the period. 76.50% of the stock is currently owned by institutional investors.
Amgen News Summary
Here are the key news stories impacting Amgen this week:
- Positive Sentiment: Quarterly results exceeded expectations: Amgen reported second-quarter revenue of approximately $10.05 billion, up 9.5% year over year, while adjusted earnings of $6.29 per share surpassed the $5.62 consensus estimate. Amgen Q2 2026 earnings beat, raises full-year outlook, drops AMG 513
- Positive Sentiment: Guidance was raised: Management now expects fiscal-year earnings of $22.30 to $23.50 per share, supported by growth in cardiovascular, bone-health and rare-disease medicines. The performance offset pressure in the bone-health business and the decision to discontinue obesity candidate AMG 513. Amgen Stock Climbs as Drug Growth Outruns Obesity Setback
- Positive Sentiment: Analyst targets point to additional upside: BMO Capital Markets raised its target to $450, while UBS and TD Cowen set targets of $440 and $452, respectively. Morgan Stanley, RBC, Oppenheimer and Scotiabank also indicated that Amgen’s stock could rise. BMO Capital Markets Boosts Amgen Price Target to $450
- Neutral Sentiment: Analyst sentiment remains mixed: Wells Fargo raised its target to $400 and Canaccord Genuity to $384, both below the stock’s recent trading level, while Citi maintained a Hold rating and UBS maintained a Buy rating. This suggests strong results have improved sentiment, but valuation and pipeline execution remain concerns. Citi Keeps Their Hold Rating on Amgen
- Negative Sentiment: Pipeline disappointment limits the upside case: Amgen dropped AMG 513, its obesity-drug candidate, removing a potential growth driver and leaving investors focused on the company’s existing medicines and remaining pipeline. Amgen drops AMG 513
About Amgen
(
Get Free Report)
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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