Wall Street Zen Upgrades Amgen (NASDAQ:AMGN) to Buy

Key Points

• Wall Street Zen upgraded Amgen from “hold” to “buy,” adding to a generally mixed but mostly constructive analyst backdrop. MarketBeat data shows the stock still carries an average “hold” rating, with a consensus target price of $354.12.
• Amgen beat first-quarter expectations, reporting $5.15 EPS versus the $4.77 consensus and $8.62 billion in revenue versus $8.58 billion expected. Management also guided FY 2026 EPS to 21.7–23.1, signaling continued earnings strength.
• Investors are watching both pipeline upside and regulatory risk: positive news includes progress in ABP 938 eye-disease and MARITIME-SWITCH obesity trials, while Tavneos faces a proposed FDA withdrawal that could pressure sentiment.

Amgen (NASDAQ:AMGN - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Sunday.

Other analysts have also recently issued reports about the company. Argus decreased their price objective on Amgen from $400.00 to $375.00 and set a "buy" rating on the stock in a report on Wednesday, May 20th. Leerink Partners reaffirmed a "market perform" rating and set a $355.00 price objective on shares of Amgen in a report on Thursday, March 5th. UBS Group upped their price objective on Amgen from $390.00 to $400.00 and gave the stock a "buy" rating in a report on Monday, April 13th. Truist Financial upped their price objective on Amgen from $325.00 to $327.00 and gave the stock a "hold" rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada upped their price objective on Amgen from $360.00 to $370.00 and gave the stock an "outperform" rating in a report on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $354.12.

Amgen Trading Up 0.3%

AMGN stock opened at $355.20 on Friday. Amgen has a 1-year low of $267.83 and a 1-year high of $391.29. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The company has a market capitalization of $191.70 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 3.56 and a beta of 0.42. The business has a 50 day simple moving average of $340.97 and a two-hundred day simple moving average of $345.72.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.77 by $0.38. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts anticipate that Amgen will post 22.38 EPS for the current fiscal year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the transaction, the senior vice president owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.85% of the company's stock.

Hedge Funds Weigh In On Amgen

Several large investors have recently modified their holdings of AMGN. High Note Wealth LLC grew its position in Amgen by 5.8% in the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock valued at $166,000 after acquiring an additional 28 shares during the last quarter. TAGStone Capital Inc. grew its position in Amgen by 0.7% in the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company's stock valued at $1,351,000 after acquiring an additional 28 shares during the last quarter. Verus Capital Partners LLC grew its position in Amgen by 2.3% in the 4th quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company's stock valued at $403,000 after acquiring an additional 28 shares during the last quarter. Destination Wealth Management grew its position in Amgen by 2.1% in the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company's stock valued at $456,000 after acquiring an additional 29 shares during the last quarter. Finally, Breakwater Capital Group grew its position in Amgen by 1.4% in the 1st quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company's stock valued at $717,000 after acquiring an additional 29 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen said its phase 3 ABP 938 eye-disease study is advancing, with the drug aimed at challenging Regeneron’s Eylea HD in a major retina market. That keeps Amgen’s pipeline in focus as a potential future growth driver. Article Title
• Positive Sentiment: Amgen also highlighted its MARITIME-SWITCH phase 3 obesity trial, which is designed to capture GLP-1 switchers. Any success in obesity treatment could open another large market and improve long-term revenue expectations. Article Title
• Positive Sentiment: Some coverage pointed to Amgen as a value stock with supportive new data from the VESALIUS-CV cardiovascular study for Repatha, reinforcing confidence in the company’s broader portfolio. Article Title
• Neutral Sentiment: Amgen and outside analysts published bullish commentary on the stock’s valuation and earnings profile, but these were mostly opinion pieces rather than new business developments. Article Title
• Negative Sentiment: Investor sentiment is being pressured by reports that Amgen’s Tavneos faces a proposed FDA withdrawal, with the company seeking a hearing and commissioning an independent review to defend the drug’s data. Regulatory uncertainty around a $500 million product is a meaningful risk for the stock. Article Title
• Negative Sentiment: Reuters also reported that Amgen hired a research firm to reassess Tavneos data after FDA concerns, underscoring the regulatory overhang and near-term uncertainty for the drug. Article Title

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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