Amgen (NASDAQ:AMGN) Price Target Raised to $410.00

Key Points

• Morgan Stanley raised Amgen’s price target from $359 to $410 but kept an “equal weight” rating; the new target was still 14.22% below the share price cited in the report.
• Amgen’s latest quarter beat analyst estimates, with EPS of $6.45 and revenue of $10.37 billion, up 8.5% year over year. The company also raised its 2026 revenue and GAAP EPS outlook.
• Analyst opinions remain mixed: MarketBeat’s consensus rating is “Hold,” with a $399.54 average target. Growth from newer products and pipeline progress faces headwinds from biosimilar-related declines in Prolia and Xgeva.

Amgen (NASDAQ:AMGN - Get Free Report) had its target price upped by equities researchers at Morgan Stanley from $359.00 to $410.00 in a report released on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the medical research company's stock. Morgan Stanley's price objective would indicate a potential downside of 14.22% from the stock's current price.

AMGN has been the topic of a number of other reports. Wall Street Zen raised Amgen from a "hold" rating to a "buy" rating in a research note on Sunday, October 18th. BMO Capital Markets decreased their price objective on Amgen from $450.00 to $415.00 and set a "market perform" rating for the company in a report on Monday, October 12th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $400.00 target price on shares of Amgen in a research report on Wednesday. Royal Bank Of Canada increased their target price on Amgen from $430.00 to $470.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Citigroup boosted their price target on shares of Amgen from $345.00 to $405.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Amgen currently has an average rating of "Hold" and a consensus target price of $399.54.

Amgen Trading Up 3.6%

Shares of AMGN stock traded up $16.70 during trading hours on Wednesday, hitting $477.96. 1,873,333 shares of the company were exchanged, compared to its average volume of 2,744,614. The company has a 50 day simple moving average of $420.83 and a two-hundred day simple moving average of $376.16. The firm has a market cap of $258.40 billion, a P/E ratio of 29.73, a P/E/G ratio of 3.41 and a beta of 0.43. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. Amgen has a fifty-two week low of $302.13 and a fifty-two week high of $482.00.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.79 by $0.66. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter in the previous year, the company earned $5.64 EPS. Amgen's quarterly revenue was up 8.5% compared to the same quarter last year. Equities analysts anticipate that Amgen will post 22.96 EPS for the current year.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 2,970 shares of the firm's stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rachna Khosla sold 1,252 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the transaction, the senior vice president directly owned 6,404 shares in the company, valued at $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 6,222 shares of company stock valued at $2,540,926. Company insiders own 0.85% of the company's stock.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rational Advisors Inc. grew its stake in Amgen by 13.7% in the second quarter. Rational Advisors Inc. now owns 199 shares of the medical research company's stock worth $72,000 after purchasing an additional 24 shares in the last quarter. Beacon Financial Advisory LLC raised its position in 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 purchasing an additional 25 shares in the last quarter. James T. Borello RIA raised its position in Amgen by 13.6% during the 3rd quarter. James T. Borello RIA now owns 209 shares of the medical research company's stock valued at $88,000 after purchasing an additional 25 shares in the last quarter. Sweeney & Michel LLC lifted its holdings in shares of Amgen by 0.5% in the 3rd quarter. Sweeney & Michel LLC now owns 5,129 shares of the medical research company's stock worth $2,162,000 after buying an additional 25 shares during the period. Finally, Legacy Financial Advisors Inc. lifted 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 buying an additional 26 shares during the period. Hedge funds and other 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: Results and outlook topped expectations: Third-quarter revenue rose 8.5% year over year to $10.37 billion, while adjusted EPS of $6.45 beat estimates. Amgen raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and GAAP EPS outlook to $18.34–$19.28. Article: AMGN Q3 Earnings Call Highlights Pipeline and Raised Outlook
• Positive Sentiment: Growth drugs and pipeline offer upside: Repatha and IMDELLTRA helped offset pressure elsewhere, and clinical progress for IMDELLTRA and other candidates supports longer-term growth potential. Investors are also watching for MariTide data. Article: Amgen lifts 2026 outlook as Repatha and Imdelltra offset biosimilar hit to Prolia
• Neutral Sentiment: Analyst views remain mixed: Some firms raised price targets, but several targets remain below the recent share price, and Bank of America maintained a Sell rating. That points to valuation concerns despite the improved outlook. Article: Amgen Sell Rating Maintained Despite Price-Target Increase
• Negative Sentiment: Legacy-drug declines are a headwind: Steep declines in Prolia and Xgeva, amid biosimilar competition, are weighing on sentiment and help explain why the earnings beat did not produce an uniformly positive reaction. Article: AMGN Stock Down Despite Q3 Earnings & Sales Beat, Raised Guidance

About Amgen

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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