Amgen (NASDAQ:AMGN) Receives "Neutral" Rating from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reiterated its “Neutral” rating on Amgen and set a $400 price target, implying 8.51% downside from the stock’s previous close.
• Analyst sentiment remains mixed, with Amgen carrying an overall “Hold” rating and an average price target of $381.68, despite several firms recently raising targets.
• Amgen exceeded quarterly expectations, reporting $6.29 in EPS and $10.05 billion in revenue, while investor concerns have increased around its olpasiran pipeline after a rival Novartis cardiovascular trial failed.

Amgen (NASDAQ:AMGN - Get Free Report)'s stock had its "neutral" rating reiterated by research analysts at Cantor Fitzgerald in a note issued to investors on Tuesday, Benzinga reports. They presently have a $400.00 price target on the medical research company's stock. Cantor Fitzgerald's price objective indicates a potential downside of 8.51% from the stock's previous close.

A number of other equities research analysts also recently commented on AMGN. Daiwa Securities Group cut their target price on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Wells Fargo & Company upped their price objective on Amgen from $400.00 to $435.00 and gave the company an "equal weight" rating in a research report on Friday. Barclays increased their target price on Amgen from $360.00 to $380.00 and gave the company an "equal weight" rating in a report on Friday, August 14th. Scotiabank boosted their price target on Amgen from $385.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Amgen from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Amgen currently has an average rating of "Hold" and an average target price of $381.68.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $437.23 on Tuesday. The firm has a market capitalization of $236.38 billion, a P/E ratio of 27.17, a P/E/G ratio of 3.15 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. The stock has a 50 day moving average price of $398.92 and a 200-day moving average price of $367.59. Amgen has a 52-week low of $269.77 and a 52-week high of $447.03.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.62 by $0.67. The business had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The firm's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, equities research analysts anticipate that Amgen will post 22.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the transaction, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This represents a 28.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Rachna Khosla sold 1,252 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,222 shares of company stock valued at $2,540,926 in the last quarter. 0.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Tower View Wealth Management LLC increased its stake in Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after acquiring an additional 63 shares during the last quarter. Evergreen Advisors LLC bought a new stake in shares of Amgen during the first quarter worth $37,000. Sfam LLC bought a new position in shares of Amgen in the fourth quarter worth about $38,000. Advocate Investing Services LLC purchased a new position in Amgen in the 4th quarter worth about $39,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Amgen in the 4th quarter valued at about $44,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen’s olpasiran remains a potentially significant opportunity in the Lp(a)-lowering market. The Novartis result does not determine olpasiran’s outcome, leaving room for Amgen to differentiate its drug if its late-stage trial demonstrates a reduction in cardiovascular events. Cholesterol drug setback casts doubt over multibillion-dollar race
• Neutral Sentiment: The disappointing Novartis data is affecting several companies pursuing Lp(a) therapies, including Amgen and Eli Lilly, reflecting broader investor caution toward experimental drug pipelines rather than a change to Amgen’s current operating results. Why Amgen Stock Is Dropping After Swiss Rival's Trial Setback
• Negative Sentiment: Novartis’ pelacarsen failed to reduce cardiovascular events despite lowering harmful Lp(a) cholesterol. Investors now face greater uncertainty over whether Amgen’s olpasiran can validate the same biological mechanism in its approximately 7,297-patient heart-outcomes study. Amgen's 7,297-Patient Heart Bet Just Inherited a Higher Bar
• Negative Sentiment: The trial failure has already prompted investor concern about olpasiran’s phase 3 prospects, making the drug a higher-risk pipeline asset and contributing to the recent pullback in AMGN. Amgen Shares Fall as Novartis' Pelacarsen Misses Phase III Study Goal

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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