Amgen (NASDAQ:AMGN – Free Report) had its target price hoisted by Canaccord Genuity Group from $366.00 to $384.00 in a research note released on Wednesday morning, Marketbeat reports. The brokerage currently has a hold rating on the medical research company’s stock.
Other research analysts also recently issued research reports about the company. Morgan Stanley reduced their target price on Amgen from $340.00 to $333.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Mizuho upped their price target on Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 16th. Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group set a $389.00 price target on shares of Amgen in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $370.07.
Check Out Our Latest Stock Report on Amgen
Amgen Stock Performance
Amgen (NASDAQ:AMGN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.62 by $0.67. The firm had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, equities analysts predict that Amgen will post 22.73 EPS for the current fiscal year.
Amgen Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be issued a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 21st. Amgen’s dividend payout ratio is 62.65%.
Insider Activity at Amgen
In other news, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the sale, the senior vice president directly owned 7,340 shares of the company’s stock, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.85% of the company’s stock.
Institutional Investors Weigh In On Amgen
Several large investors have recently modified their holdings of AMGN. Roman Butler Fullerton & Co. raised its holdings in Amgen by 1.4% in the 2nd quarter. Roman Butler Fullerton & Co. now owns 1,956 shares of the medical research company’s stock worth $705,000 after acquiring an additional 27 shares during the period. High Note Wealth LLC boosted its holdings in Amgen by 5.8% during the fourth 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 period. TAGStone Capital Inc. grew its position in shares of Amgen by 0.7% in the fourth quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company’s stock valued at $1,351,000 after purchasing an additional 28 shares during the last quarter. Verus Capital Partners LLC grew its position in shares of Amgen by 2.3% in the fourth quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company’s stock valued at $403,000 after purchasing an additional 28 shares during the last quarter. Finally, Destination Wealth Management increased its stake in shares of Amgen by 2.1% in the fourth quarter. Destination Wealth Management now owns 1,393 shares of the medical research company’s stock worth $456,000 after purchasing an additional 29 shares during the period. Institutional investors own 76.50% of the company’s stock.
Key Amgen News
Here are the key news stories impacting Amgen this week:
- Positive Sentiment: Quarterly results exceeded expectations: Amgen reported second-quarter revenue of approximately $10.05 billion, up 9.5% year over year, while adjusted earnings of $6.29 per share surpassed the $5.62 consensus estimate. Amgen Q2 2026 earnings beat, raises full-year outlook, drops AMG 513
- Positive Sentiment: Guidance was raised: Management now expects fiscal-year earnings of $22.30 to $23.50 per share, supported by growth in cardiovascular, bone-health and rare-disease medicines. The performance offset pressure in the bone-health business and the decision to discontinue obesity candidate AMG 513. Amgen Stock Climbs as Drug Growth Outruns Obesity Setback
- Positive Sentiment: Analyst targets point to additional upside: BMO Capital Markets raised its target to $450, while UBS and TD Cowen set targets of $440 and $452, respectively. Morgan Stanley, RBC, Oppenheimer and Scotiabank also indicated that Amgen’s stock could rise. BMO Capital Markets Boosts Amgen Price Target to $450
- Neutral Sentiment: Analyst sentiment remains mixed: Wells Fargo raised its target to $400 and Canaccord Genuity to $384, both below the stock’s recent trading level, while Citi maintained a Hold rating and UBS maintained a Buy rating. This suggests strong results have improved sentiment, but valuation and pipeline execution remain concerns. Citi Keeps Their Hold Rating on Amgen
- Negative Sentiment: Pipeline disappointment limits the upside case: Amgen dropped AMG 513, its obesity-drug candidate, removing a potential growth driver and leaving investors focused on the company’s existing medicines and remaining pipeline. Amgen drops AMG 513
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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