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

Posted by Brian Himes on Aug 5th, 2026

Amgen (NASDAQ:AMGN – Get Free Report) had its price target upped by equities research analysts at Scotiabank from $385.00 to $450.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “sector outperform” rating on the medical research company’s stock. Scotiabank’s target price would indicate a potential upside of 10.80% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Oppenheimer raised their price objective on Amgen from $400.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday. Freedom Capital upgraded Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Mizuho raised their price target on Amgen from $295.00 to $303.00 and gave the company a “neutral” rating in a report on Tuesday, June 16th. Piper Sandler reaffirmed an “overweight” rating on shares of Amgen in a research report on Friday, June 12th. Finally, Wells Fargo & Company upped their price objective on shares of Amgen from $390.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $363.70.

Check Out Our Latest Report on AMGN

Amgen Stock Performance

Shares of AMGN stock traded up $16.12 on Wednesday, reaching $406.14. The stock had a trading volume of 2,252,857 shares, compared to its average volume of 2,733,274. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The firm’s 50-day moving average is $358.49 and its two-hundred day moving average is $354.79. The firm has a market capitalization of $219.20 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 3.83 and a beta of 0.41. Amgen has a 12 month low of $269.77 and a 12 month high of $416.24.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $10.05 billion during the quarter, compared to analysts’ expectations of $9.43 billion. During the same quarter last year, the company posted $6.02 earnings per share. Amgen’s quarterly revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, research analysts expect that Amgen will post 22.31 EPS for the current fiscal year.

Institutional Trading of Amgen

Several hedge funds and other institutional investors have recently bought and sold shares of AMGN. North Dakota State Investment Board raised its stake in Amgen by 0.3% during the second quarter. North Dakota State Investment Board now owns 15,994 shares of the medical research company’s stock worth $5,792,000 after acquiring an additional 50 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Amgen in the 1st quarter valued at approximately $655,000. Aviso Wealth Management grew its holdings in shares of Amgen by 3.1% during the 2nd quarter. Aviso Wealth Management now owns 2,681 shares of the medical research company’s stock valued at $971,000 after purchasing an additional 80 shares during the last quarter. Investment Research Partners LLC grew its holdings in shares of Amgen by 6.1% during the 2nd quarter. Investment Research Partners LLC now owns 3,890 shares of the medical research company’s stock valued at $1,409,000 after purchasing an additional 224 shares during the last quarter. Finally, 71 West Capital Partners increased its position in Amgen by 58.8% during the 2nd quarter. 71 West Capital Partners now owns 3,626 shares of the medical research company’s stock worth $1,313,000 after purchasing an additional 1,343 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

Positive Sentiment: Quarterly earnings beat expectations: Amgen reported adjusted earnings of $6.29 per share, above the approximately $5.62 consensus estimate, while revenue rose 9.5% year over year to $10.05 billion versus expectations of $9.43 billion. Reuters earnings report
Positive Sentiment: Higher 2026 guidance: Amgen now expects revenue of $38.2 billion to $39.4 billion, above the prior consensus of roughly $37.8 billion, and adjusted EPS of $22.30 to $23.50. The raised outlook signals confidence in continued product growth. Zacks earnings call analysis
Positive Sentiment: Broad portfolio momentum: Twenty-two products posted double-digit sales growth. Repatha revenue increased 37% to $953 million and EVENITY sales rose 38% to $714 million, helping offset declines in mature products such as Prolia and XGEVA. Quiver Quantitative revenue report
Positive Sentiment: Analyst target increases: BMO Capital Markets and Oppenheimer raised their price targets to $450 and maintained bullish ratings. Morgan Stanley, Wells Fargo, Canaccord and several other firms also lifted targets following the results, although most retained neutral or negative ratings.
Neutral Sentiment: Pipeline investment remains important: Management plans to use the stronger financial performance to advance multiple late-stage programs, including obesity candidate MariTide. However, early development of another potential obesity treatment was halted, leaving investors focused on execution and future clinical data. Wall Street Journal outlook report
Negative Sentiment: Ongoing risk factors: Reports of a patient-data breach and regulatory scrutiny related to Tavneos could create legal, reputational and operational costs. Recent insider activity also shows four sales and no purchases over the past six months, while several analysts’ targets remain below the current trading level.

About Amgen

(Get Free Report)

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.