Guggenheim Lowers Amgen (NASDAQ:AMGN) Price Target to $340.00

Key Points

• Guggenheim cut its price target on Amgen from $351 to $340 and maintained a neutral rating, implying roughly a 4.71% upside from the current share price.
• Analysts are mixed: MarketBeat's consensus is a Hold with an average target of $357.12, while individual targets range roughly from the mid-$200s up to $400 and ratings include 1 Strong Buy, 14 Buy, 14 Hold and 2 Sell.
• Amgen beat Q1 estimates (EPS $5.15 vs. $4.77 expected; revenue $8.62B) and set FY2026 guidance of 21.700–23.100 EPS, with analysts forecasting about 22.28 EPS for the year.

Amgen (NASDAQ:AMGN - Get Free Report) had its price target reduced by Guggenheim from $351.00 to $340.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the medical research company's stock. Guggenheim's target price suggests a potential upside of 4.71% from the company's current price.

Other analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft lifted their price target on Amgen from $285.00 to $295.00 and gave the stock a "hold" rating in a research note on Thursday, February 5th. UBS Group boosted their price target on shares of Amgen from $390.00 to $400.00 and gave the company a "buy" rating in a research note on Monday, April 13th. TD Cowen reaffirmed a "buy" rating on shares of Amgen in a research note on Wednesday, February 4th. Barclays initiated coverage on shares of Amgen in a research note on Friday, February 20th. They set an "equal weight" rating and a $350.00 price target on the stock. Finally, Argus upped their price objective on shares of Amgen from $360.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $357.12.

Amgen Stock Performance

AMGN stock opened at $324.71 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The firm has a market cap of $175.24 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 3.24 and a beta of 0.44. Amgen has a twelve month low of $261.43 and a twelve month high of $391.29. The business's fifty day simple moving average is $358.07 and its two-hundred day simple moving average is $341.12.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.58 billion. During the same period last year, the business posted $4.90 earnings per share. The firm's revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Analysts predict that Amgen will post 22.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Anfield Capital Management LLC grew its holdings in shares of Amgen by 1,000.0% in the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after acquiring an additional 70 shares during the period. Dogwood Wealth Management LLC lifted its position in shares of Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after purchasing an additional 55 shares in the last quarter. Board of the Pension Protection Fund purchased a new position in shares of Amgen in the fourth quarter valued at $26,000. Tower View Wealth Management LLC increased its stake in Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after buying an additional 63 shares during the period. Finally, Manning & Napier Advisors LLC grew its position in shares of Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock worth $32,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

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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