Argus Issues Positive Forecast for Amgen (NASDAQ:AMGN) Stock Price

Key Points

• Argus raised Amgen’s price target to $460 from $375 and maintained a “buy” rating, implying about 6.6% upside from the stock’s $431.40 opening price. However, the broader analyst consensus remains “hold,” with a $378.96 target.
• Amgen reported stronger-than-expected quarterly results, with EPS of $6.29 versus the $5.62 consensus and revenue of $10.05 billion, up 9.5% year over year. The company guided to fiscal 2026 EPS of $22.30–$23.50.
• Insiders sold 6,222 shares worth approximately $2.54 million in the last quarter, while institutional investors own 76.5% of the company, indicating substantial institutional participation alongside recent insider selling.

Amgen (NASDAQ:AMGN - Get Free Report) had its target price increased by stock analysts at Argus from $375.00 to $460.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the medical research company's stock. Argus' price objective suggests a potential upside of 6.63% from the company's current price.

A number of other research firms also recently issued reports on AMGN. Canaccord Genuity Group increased their target price on shares of Amgen from $366.00 to $384.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Piper Sandler reissued an "overweight" rating on shares of Amgen in a research report on Friday, June 12th. Mizuho raised their target price on Amgen from $303.00 to $352.00 and gave the company a "neutral" rating in a report on Tuesday. BMO Capital Markets boosted their price target on Amgen from $400.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Finally, Truist Financial upped their price target on Amgen from $340.00 to $362.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $378.96.

Amgen Trading Up 1.4%

NASDAQ AMGN opened at $431.40 on Wednesday. Amgen has a one year low of $269.77 and a one year high of $432.96. The firm has a market capitalization of $233.23 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 3.86 and a beta of 0.41. 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 company has a 50-day simple moving average of $373.66 and a 200-day simple moving average of $360.06.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results 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. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The company had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same quarter in the previous year, the firm posted $6.02 EPS. The firm's quarterly revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities analysts forecast that Amgen will post 22.78 earnings per share for the current year.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Rachna Khosla sold 2,000 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was 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 approximately $2,642,098.28. This represents a 23.80% decrease in their position. 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 quarter. Insiders own 0.85% of the company's stock.

Institutional Trading of Amgen

Hedge funds have recently added to or reduced their stakes in the business. Adell Harriman & Carpenter Inc. boosted its position in Amgen by 7.9% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company's stock valued at $7,204,000 after purchasing an additional 1,609 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Amgen during the fourth quarter worth $22,441,000. Sigma Planning Corp raised its position in Amgen by 24.0% during the fourth quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company's stock worth $5,889,000 after acquiring an additional 3,488 shares in the last quarter. National Pension Service lifted its stake in Amgen by 4.7% in the fourth quarter. National Pension Service now owns 1,239,549 shares of the medical research company's stock valued at $405,717,000 after acquiring an additional 55,489 shares during the last quarter. Finally, Integrated Advisors Network LLC lifted its stake in Amgen by 50.5% in the first quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company's stock valued at $6,664,000 after acquiring an additional 6,356 shares during 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’s latest quarterly results reinforced its growth story: revenue rose 9.5% year over year to $10.05 billion, while adjusted earnings of $6.29 per share exceeded consensus by $0.67. The results and fiscal 2026 earnings guidance of $22.30-$23.50 per share are helping sustain investor confidence. Amgen Results Put Growth Back In Focus
• Positive Sentiment: A Phase 1 study comparing two formulations of evolocumab, Amgen’s cholesterol treatment, provided continued support for the company’s cardiovascular franchise. The update suggests ongoing work to maintain and potentially improve the product’s commercial position. Amgen Evolocumab Formulation Study
• Neutral Sentiment: Amgen rose but underperformed some pharmaceutical peers, indicating that the move was more company-specific than a broad sector rally. Amgen Stock Performance Versus Competitors
• Negative Sentiment: Cantor Fitzgerald and Mizuho raised their Amgen price targets but retained neutral ratings. Their targets of $400 and $352, respectively, remain below the stock’s recent trading level, signaling valuation concerns and potential downside despite improved estimates.
• Negative Sentiment: Amgen exercised its right to terminate a partnership with TScan Therapeutics. Although the financial impact on Amgen was not specified, the decision removes a partnered research opportunity and may raise questions about the company’s external pipeline strategy. TScan Therapeutics Partnership Termination

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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