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

Key Points

• Truist raised its price target on Amgen to $327 (from $325) but kept a "hold" rating; the Street consensus remains a "Hold" with a higher consensus price target of $357.54 and a mix of buy/hold/sell opinions.
• Q1 beat and raised guidance: Amgen reported EPS of $5.15 (vs. $4.73 est.) and $8.62B revenue, and set FY2026 EPS guidance of $21.70–$23.10, supported by product momentum including 16 drugs with double‑digit growth.
• Near‑term risks pressured the stock: Amgen slid to $328.42 intraday amid investor caution and regulatory/legal risk after the FDA proposed withdrawing approval for Tavneos.

Amgen (NASDAQ:AMGN - Get Free Report) had its price target upped by stock analysts at Truist Financial from $325.00 to $327.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "hold" rating on the medical research company's stock. Truist Financial's price objective suggests a potential downside of 0.43% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group lifted their price target on shares of Amgen from $415.00 to $425.00 and gave the company a "buy" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on Amgen from $285.00 to $295.00 and gave the stock a "hold" rating in a report on Thursday, February 5th. Rothschild & Co Redburn boosted their target price on Amgen from $180.00 to $200.00 and gave the stock a "sell" rating in a research report on Wednesday, February 18th. Barclays began coverage on Amgen in a research report on Friday, February 20th. They issued an "equal weight" rating and a $350.00 price target for the company. Finally, Daiwa Securities Group lifted their price target on Amgen from $370.00 to $410.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Amgen presently has a consensus rating of "Hold" and a consensus price target of $357.54.

Amgen Price Performance

Amgen stock traded down $17.83 during midday trading on Friday, reaching $328.42. The company's stock had a trading volume of 2,281,955 shares, compared to its average volume of 2,726,078. The company has a debt-to-equity ratio of 5.78, a quick ratio of 0.90 and a current ratio of 1.14. Amgen has a fifty-two week low of $261.43 and a fifty-two week high of $391.29. The firm has a market capitalization of $177.24 billion, a PE ratio of 23.07, a P/E/G ratio of 3.34 and a beta of 0.47. The stock's 50 day simple moving average is $358.07 and its 200 day simple moving average is $340.45.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.73 by $0.42. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a net margin of 20.98% and a return on equity of 148.37%. The business's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities research analysts forecast that Amgen will post 22.16 earnings per share for the current year.

Institutional Investors Weigh In On Amgen

Hedge funds have recently modified their holdings of the company. Simplicity Wealth LLC grew its stake in Amgen by 7.4% in the 1st quarter. Simplicity Wealth LLC now owns 4,737 shares of the medical research company's stock worth $1,667,000 after acquiring an additional 326 shares during the period. Candriam S.C.A. boosted its holdings in shares of Amgen by 0.9% during the first quarter. Candriam S.C.A. now owns 395,351 shares of the medical research company's stock worth $139,104,000 after purchasing an additional 3,616 shares during the last quarter. Relyea Zuckerberg Hanson LLC boosted its holdings in shares of Amgen by 5.4% during the first quarter. Relyea Zuckerberg Hanson LLC now owns 1,449 shares of the medical research company's stock worth $510,000 after purchasing an additional 74 shares during the last quarter. OMC Financial Services LTD grew its position in shares of Amgen by 2.2% in the first quarter. OMC Financial Services LTD now owns 5,465 shares of the medical research company's stock valued at $1,923,000 after purchasing an additional 120 shares during the period. Finally, Manning & Napier Advisors LLC increased its stake in Amgen by 86.6% in the first quarter. Manning & Napier Advisors LLC now owns 181 shares of the medical research company's stock valued at $63,000 after purchasing an additional 84 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q1 beats and raised full-year outlook — Amgen reported Q1 EPS of $5.15 (vs. $4.73 est.) and revenue of $8.62B, and issued FY2026 EPS guidance of $21.70–$23.10, which supports longer‑term earnings visibility. Amgen's Q1 Earnings Top Estimates
• Positive Sentiment: Broad product momentum — Management highlighted 16 drugs with double‑digit growth and +4% product sales, showing portfolio resilience versus biosimilar erosion and legacy pressures. Zacks: 16 Drugs Deliver Double-Digit Gains
• Positive Sentiment: Analyst bullishness and higher price target — Goldman Sachs raised its AMGN price target to $425 and maintained a Buy; other analysts reiterated Buys, underpinning upside expectations. Goldman Sachs Raises Price Target to $425
• Neutral Sentiment: Pipeline focus — Management emphasized an expanded MariTide (obesity) development program as a multi‑year growth driver; concrete near-term revenue impact is uncertain and will depend on clinical progress and regulatory timelines. Reuters: Sales Rise 4%; MariTide Program
• Neutral Sentiment: Earnings materials and calls available — Full Q1 transcript, slides and call recording provide more detail for investors to model product-level growth and guidance assumptions. Earnings Call Transcript
• Negative Sentiment: FDA proposal to withdraw Tavneos — The FDA has proposed withdrawing Tavneos approval citing alleged clinical‑trial data manipulation and untrue statements, raising regulatory, legal and reputational risks that could pressure the stock. FDA Tavneos Proposal
• Negative Sentiment: Investor caution on execution and strategy — Some coverage noted the report was “generally in‑line” (not a clear blowout) and that the company’s aggressive push into obesity and other areas adds near‑term execution risk; that tone contributed to selling pressure. Amgen Aggressively Expanding in Obesity
• Negative Sentiment: Market impact headline — Broad-market stories noted Amgen was a drag on the Dow amid mixed macro/earnings headlines, which can amplify intraday declines in large-cap pharma names. Nasdaq Leads as Amgen Drags Dow

About Amgen

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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