Amgen (NASDAQ:AMGN) Given New $425.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its Amgen price target from $350 to $425 but maintained a Neutral rating; the target was about 10.8% below the stock’s price at the time of the report.
• Analyst opinions are mixed: MarketBeat reported a consensus Hold rating and average target of $408.21, while several firms raised targets and some maintained Buy ratings.
• Amgen beat quarterly earnings and revenue estimates, reporting $6.45 per share and $10.37 billion in revenue, up 8.5% year over year.

Amgen (NASDAQ:AMGN - Get Free Report) had its price objective lifted by equities researchers at JPMorgan Chase & Co. from $350.00 to $425.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the medical research company's stock. JPMorgan Chase & Co.'s target price points to a potential downside of 10.79% from the stock's current price.

Several other equities analysts have also recently weighed in on AMGN. Canaccord Genuity Group set a $440.00 price target on shares of Amgen in a research report on Wednesday. UBS Group increased their price objective on Amgen from $430.00 to $470.00 and gave the stock a "buy" rating in a report on Friday, October 9th. Argus raised their price target on Amgen from $375.00 to $460.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. Cantor Fitzgerald boosted their target price on Amgen from $440.00 to $465.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Royal Bank Of Canada upped their price objective on shares of Amgen from $430.00 to $470.00 and gave the stock an "outperform" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $408.21.

Amgen Trading Up 3.3%

AMGN traded up $15.16 during trading on Wednesday, reaching $476.42. 2,674,727 shares of the company's stock were exchanged, compared to its average volume of 2,747,930. The firm has a fifty day moving average price of $420.83 and a two-hundred day moving average price of $376.16. Amgen has a one year low of $302.13 and a one year high of $482.00. The stock has a market capitalization of $257.57 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 3.41 and a beta of 0.43. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The medical research company reported $6.45 EPS for the quarter, topping analysts' consensus estimates of $5.79 by $0.66. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.07 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The firm's quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $5.64 earnings per share. As a group, equities research analysts forecast that Amgen will post 22.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the transaction, the senior vice president directly owned 6,404 shares of the company's stock, valued at $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Nancy Grygiel sold 2,970 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly owned 7,340 shares of the company's stock, valued at $2,951,854.40. The trade was a 28.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 6,222 shares of company stock worth $2,540,926. Insiders own 0.85% of the company's stock.

Hedge Funds Weigh In On Amgen

Hedge funds have recently bought and sold shares of the business. Rational Advisors Inc. increased its holdings in shares of Amgen by 13.7% in the second quarter. Rational Advisors Inc. now owns 199 shares of the medical research company's stock valued at $72,000 after buying an additional 24 shares in the last quarter. Beacon Financial Advisory LLC lifted its position in shares of Amgen by 2.0% during the 2nd quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company's stock valued at $461,000 after acquiring an additional 25 shares during the last quarter. James T. Borello RIA boosted its stake in shares of Amgen by 13.6% during the 3rd quarter. James T. Borello RIA now owns 209 shares of the medical research company's stock worth $88,000 after acquiring an additional 25 shares in the last quarter. Sweeney & Michel LLC boosted its stake in shares of Amgen by 0.5% during the 3rd quarter. Sweeney & Michel LLC now owns 5,129 shares of the medical research company's stock worth $2,162,000 after acquiring an additional 25 shares in the last quarter. Finally, Legacy Financial Advisors Inc. grew its holdings in shares of Amgen by 0.8% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company's stock worth $1,234,000 after acquiring an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported adjusted earnings of $6.45 per share, ahead of the $5.79 consensus, and revenue of $10.37 billion, up 8.5% year over year and above estimates. The company also raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and its GAAP EPS outlook to $18.34–$19.28. Article: Q3 Earnings Call Highlights Pipeline and Raised Outlook
• Positive Sentiment: Growth from products including Repatha and IMDELLTRA helped offset headwinds, while clinical progress for IMDELLTRA, TEZSPIRE and dazodalibep adds potential longer-term growth drivers. Investors are also watching for upcoming MariTide obesity-trial data. Article: Amgen Lifts Outlook as Repatha and Imdelltra Offset Biosimilar Hit to Prolia
• Positive Sentiment: Goldman Sachs raised its price target to $536 and reiterated a Buy rating, supporting the bullish view following the results. Article: Goldman Sachs Amgen Rating
• Neutral Sentiment: Analyst views remain divided: some firms lifted targets but kept Hold or Equal Weight ratings, while others’ targets remain below the share price, signaling caution about valuation and upside. Article: Analyst Likes Diversified Business, Awaits MariTide Data
• Negative Sentiment: Declining sales of Prolia and Xgeva, amid biosimilar competition, remain a significant offset to growth elsewhere and have contributed to concerns despite the earnings beat and raised outlook. Article: AMGN Stock Down Despite Q3 Earnings and Raised Guidance

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company's products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.

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