Amgen (NASDAQ:AMGN) Stock Gets Price Target Bump from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised its Amgen price target from $440 to $465 but maintained a neutral rating; the new target implies just 0.81% upside from the current share price.
• Analyst sentiment is mixed: MarketBeat reports a consensus “Hold” rating and average target of $391.68, while individual targets range from $410 to $500.
• Amgen beat quarterly estimates, reporting $6.45 in EPS and $10.37 billion in revenue, up 8.5% year over year. The company also raised its 2026 outlook, though biosimilar competition and declining TEPEZZA sales remain concerns.

Amgen (NASDAQ:AMGN - Get Free Report) had its price objective upped by Cantor Fitzgerald from $440.00 to $465.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the medical research company's stock. Cantor Fitzgerald's price target indicates a potential upside of 0.81% from the stock's current price.

Other equities analysts have also issued research reports about the company. UBS Group increased their target price on Amgen from $430.00 to $470.00 and gave the stock a "buy" rating in a research note on Friday, October 9th. HSBC downgraded Amgen from a "buy" rating to a "hold" rating and dropped their target price for the company from $445.00 to $425.00 in a research report on Thursday, September 10th. Scotiabank boosted their price target on shares of Amgen from $450.00 to $500.00 and gave the stock an "outperform" rating in a research note on Monday, September 28th. Jefferies Financial Group reissued a "hold" rating and set a $410.00 price target on shares of Amgen in a research report on Wednesday, September 23rd. Finally, William Blair reissued an "outperform" rating on shares of Amgen in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $391.68.

Amgen Stock Down 0.9%

Shares of NASDAQ AMGN opened at $461.26 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The business's 50 day moving average is $420.83 and its two-hundred day moving average is $376.16. Amgen has a 52-week low of $294.48 and a 52-week high of $475.64. The firm has a market cap of $249.37 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 3.41 and a beta of 0.43.

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

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,252 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of 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 SEC, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the business's stock in a transaction dated 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 transaction, the senior vice president directly owned 7,340 shares of the company's stock, valued at approximately $2,951,854.40. This represents a 28.81% 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 worth $2,540,926 in the last ninety days. 0.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMGN. Rational Advisors Inc. boosted its holdings in 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 purchasing an additional 24 shares during the last quarter. Beacon Financial Advisory LLC grew its stake 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 increased its holdings in 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 purchasing an additional 25 shares during the last quarter. Sweeney & Michel LLC increased its holdings in 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 purchasing an additional 25 shares during the last quarter. Finally, Legacy Financial Advisors Inc. increased its holdings in Amgen by 0.8% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company's stock worth $1,234,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported third-quarter revenue of $10.37 billion, up 8.5% year over year, and adjusted earnings of $6.45 per share. Both figures beat analyst estimates. The company also raised its 2026 revenue and earnings outlook; its revenue midpoint was slightly above consensus. Amgen Raises 2026 Outlook as Q3 Revenue Grows 8% to $10.4 Billion
• Positive Sentiment: Six key growth products reportedly increased sales by 27%, helping offset declining TEPEZZA sales. The company also highlighted pipeline progress, though investors are awaiting further MariTide data. Amgen Q3 2026 Earnings Call Highlights
• Neutral Sentiment: Amgen’s quality chief is retiring and an internal deputy will take over. The transition may draw attention, but the report did not indicate an immediate operational change. Amgen's quality chief to retire as internal successor steps up
• Negative Sentiment: Despite the earnings beat, investors focused on biosimilar competition facing key products, which weighed on shares after the report. TEPEZZA’s sales decline also highlights pressure within the portfolio. Amgen beats estimates but shares dip on biosimilar concerns
• Negative Sentiment: A recent FDA warning letter over alleged misleading promotion of cancer drug Vectibix adds regulatory risk, though it was not the main focus of the earnings news. Amgen Gets FDA Warning Letter Over Misleading Vectibix Promotion

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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