Amgen (NASDAQ:AMGN) Price Target Raised to $435.00

Key Points

• Guggenheim raised its Amgen price target to $435 from $378 but kept a neutral rating; the new target implies 7.18% downside from the prior close.
• Analyst opinions remain mixed: MarketBeat’s consensus rating is Hold, with an average price target of $415.34, while individual targets range from $400 to $531.
• Amgen’s latest quarter beat expectations, reporting EPS of $6.45 versus $5.79 expected and revenue of $10.37 billion, up 8.5% year over year.

Amgen (NASDAQ:AMGN - Get Free Report) had its target price increased by analysts at Guggenheim from $378.00 to $435.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the medical research company's stock. Guggenheim's price objective points to a potential downside of 7.18% from the stock's previous close.

A number of other research firms have also commented on AMGN. Barclays upped their price target on Amgen from $380.00 to $400.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 21st. TD Cowen upped their target price on Amgen from $452.00 to $531.00 and gave the company a "buy" rating in a report on Wednesday. HSBC downgraded shares of Amgen from a "buy" rating to a "hold" rating and decreased their target price for the company from $445.00 to $425.00 in a research report on Thursday, September 10th. Wall Street Zen raised shares of Amgen from a "hold" rating to a "buy" rating in a research report on Sunday, October 18th. Finally, Cantor Fitzgerald raised their price target on shares of Amgen from $440.00 to $465.00 and gave the stock a "neutral" 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 assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $415.34.

Amgen Trading Down 2.1%

NASDAQ AMGN traded down $9.81 during trading hours on Thursday, reaching $468.67. The company's stock had a trading volume of 1,215,094 shares, compared to its average volume of 2,750,314. The firm has a fifty day simple moving average of $421.56 and a 200-day simple moving average of $376.90. The stock has a market cap of $253.37 billion, a P/E ratio of 27.19, a P/E/G ratio of 3.38 and a beta of 0.43. Amgen has a 52 week low of $312.39 and a 52 week high of $483.99. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share for the quarter, topping analysts' consensus estimates of $5.79 by $0.66. The firm had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.07 billion. Amgen had a net margin of 24.14% and a return on equity of 128.15%. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.64 EPS. Equities analysts forecast that Amgen will post 22.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,252 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the transaction, the senior vice president directly owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.85% of the company's stock.

Institutional Trading of Amgen

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Amgen by 4.8% in the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company's stock valued at $17,874,974,000 after buying an additional 2,261,544 shares during the period. State Street Corp grew its holdings in Amgen by 38.2% during the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company's stock worth $15,283,363,000 after acquiring an additional 11,656,755 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Amgen by 12.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company's stock worth $1,952,156,000 after acquiring an additional 605,928 shares during the period. Bank of America Corp DE bought a new stake in Amgen in the second quarter worth about $1,831,903,000. Finally, Amundi raised its position in Amgen by 15.2% in the second quarter. Amundi now owns 3,890,189 shares of the medical research company's stock worth $1,408,715,000 after acquiring an additional 512,883 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported that Repatha reduced fatal or nonfatal heart-attack risk by 20% versus ezetimibe in a real-world study of more than 500,000 people with cardiovascular disease and prior statin use. The evidence may strengthen Repatha’s clinical positioning, though the announcement did not quantify any financial impact. Repatha study
• Positive Sentiment: Third-quarter adjusted EPS of $6.45 and revenue of $10.37 billion topped estimates, with revenue up 8.5% year over year. Amgen also raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and GAAP EPS outlook to $18.34–$19.28, supporting expectations for continued growth. Third-quarter results
• Neutral Sentiment: Analyst views remain divided: Goldman Sachs raised its target to $536 and kept a Buy rating, while Morgan Stanley raised its target to $410 but maintained Equal Weight. The varied targets reflect uncertainty about how much further the shares can rise after a strong run. Morgan Stanley price target
• Negative Sentiment: Investors continue to weigh biosimilar pressure and sharp declines in Prolia and Xgeva sales against growth elsewhere in the portfolio. That erosion could constrain future results if newer products do not offset it quickly enough. Product sales and competition

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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