Amgen (AMGN) Stock Forecast & Price Target

Q: What analysts cover Amgen?

Amgen has been rated by research analysts at Argus , Bank of America , Barclays , BMO Capital Markets , Canaccord Genuity Group , Cantor Fitzgerald , Citigroup , Guggenheim , HSBC , Jefferies Financial Group , Mizuho , Morgan Stanley , Oppenheimer , Piper Sandler , Robert W. Baird , Royal Bank Of Canada , Sanford C. Bernstein , Scotiabank , TD Cowen , Truist Financial , UBS Group , Weiss Ratings , and Wells Fargo & Company in the past 90 days.

$432.49 -1.54 (-0.35%)

Closing price 10/16/2026 04:00 PM Eastern

Extended Trading

$431.73 -0.76 (-0.18%)

As of 10/16/2026 07:59 PM Eastern

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Amgen - Analysts' Recommendations and Stock Price Forecast (2026)

Consensus Rating

Hold

Based on 30 Analyst Ratings

Sell
3

Hold
16

Buy
11

Based on 30 Wall Street analysts who have issued ratings for Amgen in the last 12 months, the stock has a consensus rating of "Hold." Out of the 30 analysts, 3 have given a sell rating, 16 have given a hold rating, 10 have given a buy rating, and 1 has given a strong buy rating for AMGN.

Consensus Price Target

$387.93
-10.30% Downside

According to the 30 analysts' twelve-month price targets for Amgen, the average price target is $387.93. The highest price target for AMGN is $500.00, while the lowest price target for AMGN is $200.00. The average price target represents a forecasted downside of -10.30% from the current price of $432.49.

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

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AMGN Analyst Ratings Over Time

Type	Current Forecast 10/17/25 to 10/17/26	1 Month Ago 9/17/25 to 9/17/26	3 Months Ago 7/19/25 to 7/19/26	1 Year Ago 10/17/24 to 10/17/25
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	2 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	10 Buy rating(s)	11 Buy rating(s)	11 Buy rating(s)	7 Buy rating(s)
Hold	16 Hold rating(s)	15 Hold rating(s)	15 Hold rating(s)	11 Hold rating(s)
Sell	3 Sell rating(s)	3 Sell rating(s)	2 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$387.93	$381.68	$356.62	$309.39
Forecasted Upside	-10.30% Downside	0.50% Upside	-2.64% Downside	3.54% Upside
Consensus Rating	Hold	Hold	Hold	Hold

AMGN Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

AMGN Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Amgen Stock vs. The Competition

Type	Amgen	Healthcare Companies	Broader Market
Consensus Rating Score	2.30	2.32	2.53
Consensus Rating	Hold	Hold	Moderate Buy
Predicted Upside	-10.30% Downside	1,213.43% Upside	18.02% Upside
News Sentiment Rating	Positive News See Recent AMGN News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

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Rating

Upside/Downside

Action

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Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
10/13/2026	Guggenheim 5 of 5 stars	Vamil Divan 4 of 5 stars	Lower Target	Neutral	$388.00 ➝ $378.00	-9.48%
10/12/2026	BMO Capital Markets 3 of 5 stars	Evan David Seigerman 3 of 5 stars	Lower Target	Market Perform	$450.00 ➝ $415.00	-0.17%
10/12/2026	Wells Fargo & Company 3 of 5 stars	Mohit Bansal 4 of 5 stars	Lower Target	Equal Weight	$435.00 ➝ $430.00	+3.65%
10/9/2026	UBS Group Subscribe to MarketBeat All Access to unlock brokerage rankings	Michael Yee Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Buy	$430.00 ➝ $470.00	+14.32%
10/8/2026	Weiss Ratings Subscribe to MarketBeat All Access to unlock brokerage rankings		Upgrade	Buy (B) ➝ Buy (B+)
10/8/2026	Royal Bank Of Canada Subscribe to MarketBeat All Access to unlock brokerage rankings	Luca Issi Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Outperform	$400.00 ➝ $430.00	+5.49%
10/7/2026	Truist Financial Subscribe to MarketBeat All Access to unlock brokerage rankings	Gregory Renza Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Hold	$362.00 ➝ $380.00	-8.06%
10/7/2026	Morgan Stanley Subscribe to MarketBeat All Access to unlock brokerage rankings	Terence Flynn Subscribe to MarketBeat All Access to unlock analyst rankings	Lower Target	Equal Weight	$362.00 ➝ $359.00	-13.08%
10/5/2026	Cantor Fitzgerald Subscribe to MarketBeat All Access to unlock brokerage rankings	Carter Gould Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Neutral	$400.00 ➝ $440.00	+9.17%
9/28/2026	Scotiabank Subscribe to MarketBeat All Access to unlock brokerage rankings	Louise Chen Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Outperform	$450.00 ➝ $500.00	+19.68%
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9/23/2026	Jefferies Financial Group Subscribe to MarketBeat All Access to unlock brokerage rankings	Akash Tewari Subscribe to MarketBeat All Access to unlock analyst rankings	Reiterated Rating	Hold	$410.00	-0.06%
9/23/2026	Oppenheimer Subscribe to MarketBeat All Access to unlock brokerage rankings	Jay Olson Subscribe to MarketBeat All Access to unlock analyst rankings	Reiterated Rating	Outperform
9/10/2026	HSBC Subscribe to MarketBeat All Access to unlock brokerage rankings	Morten Herholdt Subscribe to MarketBeat All Access to unlock analyst rankings	Downgrade	Buy ➝ Hold	$445.00 ➝ $425.00	+8.62%
8/20/2026	Piper Sandler Subscribe to MarketBeat All Access to unlock brokerage rankings	David Amsellem Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Overweight	$427.00 ➝ $457.00	+3.31%
8/19/2026	Argus Subscribe to MarketBeat All Access to unlock brokerage rankings	Jasper Hellweg Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Buy	$375.00 ➝ $460.00	+7.04%
8/18/2026	Mizuho Subscribe to MarketBeat All Access to unlock brokerage rankings	Salim Syed Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Neutral	$303.00 ➝ $352.00	-16.07%
8/14/2026	Barclays Subscribe to MarketBeat All Access to unlock brokerage rankings	Emily Field Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Equal Weight	$360.00 ➝ $380.00	-9.06%
8/7/2026	Citigroup Subscribe to MarketBeat All Access to unlock brokerage rankings	Geoff Meacham Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Neutral	$345.00 ➝ $405.00	+0.04%
8/6/2026	Sanford C. Bernstein Subscribe to MarketBeat All Access to unlock brokerage rankings	Courtney Breen Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Market Perform	$335.00 ➝ $345.00	-15.41%
8/5/2026	TD Cowen Subscribe to MarketBeat All Access to unlock brokerage rankings	Yaron Werber Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Buy	$420.00 ➝ $452.00	+11.26%
8/5/2026	Robert W. Baird Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target	Underperform	$215.00 ➝ $230.00	-41.12%
8/5/2026	Bank of America Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target	Underperform	$312.00 ➝ $317.00	-18.85%
8/5/2026	Canaccord Genuity Group Subscribe to MarketBeat All Access to unlock brokerage rankings	Gary Nachman Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Hold	$366.00 ➝ $384.00	-1.70%
6/5/2026	The Goldman Sachs Group Subscribe to MarketBeat All Access to unlock brokerage rankings		Set Target		$389.00	+9.79%
5/13/2026	Daiwa Securities Group Subscribe to MarketBeat All Access to unlock brokerage rankings		Lower Target	Outperform	$410.00 ➝ $390.00	+17.59%
5/7/2026	Freedom Capital Subscribe to MarketBeat All Access to unlock brokerage rankings		Upgrade	Hold ➝ Strong-Buy
5/5/2026	Erste Group Bank Subscribe to MarketBeat All Access to unlock brokerage rankings		Reiterated Rating	Buy ➝ Hold
3/5/2026	Leerink Partners Subscribe to MarketBeat All Access to unlock brokerage rankings	David Risinger Subscribe to MarketBeat All Access to unlock analyst rankings	Reiterated Rating	Market Perform	$355.00	-3.43%
2/18/2026	Rothschild & Co Redburn Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target	Sell	$180.00 ➝ $200.00	-46.43%
2/5/2026	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target	Hold	$285.00 ➝ $295.00	-19.79%
11/10/2025	DZ Bank Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target		$335.00 ➝ $364.00	+13.68%
9/3/2025	Raymond James Financial Subscribe to MarketBeat All Access to unlock brokerage rankings	Gary Nachman Subscribe to MarketBeat All Access to unlock analyst rankings	Initiated Coverage	Market Perform
6/24/2025	William Blair Subscribe to MarketBeat All Access to unlock brokerage rankings		Reiterated Rating	Outperform
3/5/2025	Johnson Rice Subscribe to MarketBeat All Access to unlock brokerage rankings		Set Target		$294.00	-10.47%
11/15/2024	Wolfe Research Subscribe to MarketBeat All Access to unlock brokerage rankings	Alexandria Hammond Subscribe to MarketBeat All Access to unlock analyst rankings	Initiated Coverage	Peer Perform

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 04:51 PM ET.

Should I Buy Amgen Stock? AMGN Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Wednesday, October 14, 2026. Please send any questions or comments about these Amgen pros and cons to contact@marketbeat.com.

Amgen
Bull Case

Here are some ways that investors could benefit from investing in Amgen Inc.:

Amgen Inc. recently reported positive Phase 3 trial results for Tezspire in the treatment of eosinophilic esophagitis, a chronic inflammatory condition with limited approved options. In this study, nearly 70% of patients receiving the higher dose achieved remission at week 24, which could significantly expand the drug's addressable market and provide a new growth driver for the company's pipeline.
The stock is currently trading at $426.11, which is well above its 52-week low of $288.00 and approaching its 52-week high of $447.03. This price action reflects strong recent momentum, as the company has consistently beaten earnings estimates, such as the most recent quarter where it reported $6.29 in earnings per share against a consensus estimate of $5.62.
Amgen Inc. offers a dividend yield of 2.41%, with a recent quarterly payment of $2.52 per share. This provides a steady income stream for investors, supported by a payout ratio of 62.65%, which indicates the company is distributing a significant portion of its earnings to shareholders while maintaining a current ratio of 1.37 to manage its short-term liabilities.
Institutional interest in the stock has been increasing, with several funds raising their stakes in the third quarter. For example, First Citizens Bank & Trust Co. increased its position by 68.0% to 16,328 shares, and N10 Wealth LLC raised its stake by 62.6%, suggesting that professional investors are gaining confidence in the company's long-term outlook.
The company has received regulatory momentum, including a European Union authorization for Jascayd in July 2026. Additionally, Amgen Inc. is preparing for three Phase 3 studies of its obesity candidate MariTide in people with type 2 diabetes, which are expected to begin in 2026, positioning the company to compete in a high-growth therapeutic area.

Amgen
Bear Case

Investors should be bearish about investing in Amgen Inc. for these reasons:

Insider sentiment appears cautious, as corporate insiders have reported seven open-market sales and no purchases during the past six months. For instance, SVP Rachna Khosla sold 2,000 shares in August 2026, and SVP Nancy Grygiel sold 2,970 shares in the same month, which may signal that company executives are taking advantage of the recent stock price appreciation to reduce their personal exposure.
Analyst consensus remains mixed, with a current rating of "Hold" and an average price target of $387.93, which is below the current stock price of $426.11. This suggests that many analysts believe the stock may be overvalued relative to its expected future earnings, as the current P/E ratio of 26.48 is higher than the consensus estimate for future growth.
The company carries a high debt-to-equity ratio of 4.44, indicating that Amgen Inc. relies heavily on debt financing relative to its shareholder equity. While the company has a quick ratio of 1.13, which shows it can cover short-term obligations, the high leverage could limit financial flexibility if interest rates remain elevated or if revenue growth slows.
Short interest in the stock has been rising, with 14,028,739 shares shorted as of September 30, 2026, representing 2.62% of the float. This increase from previous months suggests that some investors are betting against the stock, potentially due to concerns about valuation or competitive pressures in the biotechnology sector.
There is significant disagreement among analysts regarding the company's valuation, with some firms like Bank of America Securities maintaining a Sell rating. This divergence in opinion, combined with the fact that the stock has already risen significantly from its 52-week low, creates uncertainty about whether the current price fully reflects the company's future earnings potential.

AMGN Forecast - Frequently Asked Questions

According to the research reports of 30 Wall Street equities research analysts, the average twelve-month stock price forecast for Amgen is $387.93, with a high forecast of $500.00 and a low forecast of $200.00.

30 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Amgen in the last year. There are currently 3 sell ratings, 16 hold ratings, 10 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" AMGN shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in AMGN, but not buy additional shares or sell existing shares.

According to analysts, Amgen's stock has a predicted downside of -10.30% based on their 12-month stock forecasts.

Over the previous 90 days, Amgen's stock had 2 upgrades and 2 downgrades by analysts.

Amgen has been rated by research analysts at Argus, Bank of America, Barclays, BMO Capital Markets, Canaccord Genuity Group, Cantor Fitzgerald, Citigroup, Guggenheim, HSBC, Jefferies Financial Group, Mizuho, Morgan Stanley, Oppenheimer, Piper Sandler, Robert W. Baird, Royal Bank Of Canada, Sanford C. Bernstein, Scotiabank, TD Cowen, Truist Financial, UBS Group, Weiss Ratings, and Wells Fargo & Company in the past 90 days.

Analysts like Amgen less than other "healthcare" companies. The consensus rating score for Amgen is 2.30 while the average consensus rating score for "healthcare" companies is 2.32. Learn more on how AMGN compares to other companies.

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MarketBeat monitors more than a dozen sources for Amgen analyst ratings, with the most recent rating issued on 10/13/2026.

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Amgen (AMGN) Stock Forecast & Price Target