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

Key Points

• Morgan Stanley raised Amgen’s price target from $333 to $351 but maintained an “equal weight” rating, implying roughly 10% downside from the stock’s $390.63 price. The broader analyst consensus remains “Hold,” with an average target of $361.30.
• Amgen’s latest quarterly results exceeded expectations, with earnings of $6.29 per share and revenue of $10.05 billion, up 9.5% year over year. The company provided fiscal 2026 EPS guidance of $22.30–$23.50.
• Although strong product demand and pipeline catalysts support the outlook, high leverage, valuation, cybersecurity concerns and regulatory risks could weigh on future performance and investor sentiment.

Amgen (NASDAQ:AMGN - Get Free Report) had its target price boosted by equities researchers at Morgan Stanley from $333.00 to $351.00 in a research report issued on Wednesday. The brokerage currently has an "equal weight" rating on the medical research company's stock. Morgan Stanley's price target would suggest a potential downside of 10.14% from the stock's current price.

AMGN has been the subject of several other research reports. Robert W. Baird upped their price objective on Amgen from $215.00 to $230.00 and gave the company an "underperform" rating in a research note on Wednesday. Mizuho boosted their target price on shares of Amgen from $295.00 to $303.00 and gave the stock a "neutral" rating in a report on Tuesday, June 16th. Bank of America lifted their price target on shares of Amgen from $312.00 to $317.00 and gave the stock an "underperform" rating in a report on Wednesday. BMO Capital Markets increased their price target on Amgen from $400.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Argus decreased their target price on shares of Amgen from $400.00 to $375.00 and set a "buy" rating for the company in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Amgen currently has a consensus rating of "Hold" and an average target price of $361.30.

Amgen Stock Performance

Shares of Amgen stock opened at $390.63 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The company has a market cap of $210.83 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 3.83 and a beta of 0.41. The company has a 50 day moving average of $358.49 and a 200-day moving average of $354.79. Amgen has a 1-year low of $269.77 and a 1-year high of $398.00.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.62 by $0.67. The business had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.Amgen's revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, equities research analysts forecast that Amgen will post 22.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amgen

Institutional investors have recently made changes to their positions in the stock. Anfield Capital Management LLC increased its stake in Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Dogwood Wealth Management LLC lifted its holdings in shares of Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after purchasing an additional 55 shares in the last quarter. Tower View Wealth Management LLC grew its holdings 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 buying an additional 63 shares in the last quarter. Manning & Napier Advisors LLC lifted its stake in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after acquiring an additional 32 shares in the last quarter. Finally, Ares Financial Consulting LLC purchased a new position in Amgen during the 4th quarter worth $34,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q2 results exceeded expectations: Adjusted earnings were $6.29 per share versus the $5.62 consensus, while revenue rose 9.5% year over year to $10.05 billion, beating estimates of $9.43 billion. The company cited broad-based demand, with 22 products delivering double-digit sales growth. Amgen second-quarter sales rise 9%, profit tops Street view
• Positive Sentiment: Full-year guidance was raised: Amgen now expects 2026 revenue of $38.2 billion to $39.4 billion, above the previous outlook and ahead of Wall Street’s estimate. Stronger sales of Repatha, Evenity and rare-disease medicines are helping offset declines in Prolia and XGEVA. Amgen Lifts Outlook on Strong Drug Sales
• Positive Sentiment: Pipeline and analyst confidence remain supportive: William Blair reiterated a Buy rating, pointing to late-stage pipeline catalysts and portfolio growth. Amgen also continues development of MariTide, its experimental obesity treatment, and extended a Phase 3 obesity study, preserving a potential long-term growth opportunity. Analyst Maintains Buy on Amgen
• Neutral Sentiment: Amgen generated $3.5 billion in free cash flow and held $14 billion in cash at quarter-end, supporting financial flexibility. However, the company’s high leverage and valuation may limit further gains if growth expectations are already reflected in the stock.
• Negative Sentiment: Cybersecurity and regulatory risks could weigh on sentiment: Amgen disclosed a data breach involving patient and proprietary information, and a law firm has launched a class-action investigation. Regulators are also reviewing data supporting Tavneos after the retraction of a pivotal publication, creating potential legal, reputational and commercial risks. Amgen data breach class-action investigation
• Negative Sentiment: Amgen is ending early development of another Phase 1 obesity treatment, reducing the breadth of its weight-loss pipeline, even though MariTide remains in development.

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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