Amgen (NASDAQ:AMGN – Get Free Report) had its price target lifted by equities researchers at The Goldman Sachs Group from $481.00 to $536.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. The Goldman Sachs Group‘s price objective suggests a potential upside of 11.82% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. BMO Capital Markets lowered their target price on Amgen from $450.00 to $415.00 and set a “market perform” rating for the company in a research note on Monday, October 12th. Citigroup raised their price objective on Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Morgan Stanley boosted their target price on shares of Amgen from $359.00 to $410.00 and gave the company an “equal weight” rating in a report on Wednesday. Truist Financial raised their price objective on shares of Amgen from $380.00 to $398.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Jefferies Financial Group restated a “hold” rating and issued a $410.00 target price on shares of Amgen in a research note on Wednesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $404.79.
Check Out Our Latest Stock Report on Amgen
Amgen Stock Performance
Shares of NASDAQ:AMGN traded up $18.07 on Wednesday, reaching $479.33. 1,975,897 shares of the company’s stock were exchanged, compared to its average volume of 2,745,827. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The company has a market capitalization of $259.14 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 3.41 and a beta of 0.43. The company has a fifty day moving average of $420.83 and a 200-day moving average of $376.16. Amgen has a twelve month low of $302.13 and a twelve month high of $482.00.
Amgen (NASDAQ:AMGN – Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.79 by $0.66. The business had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.07 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.64 earnings per share. On average, research analysts predict that Amgen will post 22.96 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, SVP Nancy Grygiel sold 2,970 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the transaction, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rachna Khosla sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,642,098.28. This trade represents a 23.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,222 shares of company stock worth $2,540,926 in the last ninety days. Insiders own 0.85% of the company’s stock.
Hedge Funds Weigh In On Amgen
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMGN. Rational Advisors Inc. boosted its stake in Amgen by 13.7% during the second quarter. Rational Advisors Inc. now owns 199 shares of the medical research company’s stock valued at $72,000 after buying an additional 24 shares in the last quarter. Beacon Financial Advisory LLC grew its holdings in Amgen by 2.0% during the second quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company’s stock worth $461,000 after acquiring an additional 25 shares during the period. James T. Borello RIA raised its position in Amgen by 13.6% in the third quarter. James T. Borello RIA now owns 209 shares of the medical research company’s stock worth $88,000 after acquiring an additional 25 shares in the last quarter. Sweeney & Michel LLC raised its position in Amgen by 0.5% in the third quarter. Sweeney & Michel LLC now owns 5,129 shares of the medical research company’s stock worth $2,162,000 after acquiring an additional 25 shares in the last quarter. Finally, Legacy Financial Advisors Inc. lifted its holdings in Amgen by 0.8% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company’s stock valued at $1,234,000 after acquiring an additional 26 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.
More Amgen News
Here are the key news stories impacting Amgen this week:
- Positive Sentiment: Results and outlook topped expectations: Third-quarter revenue rose 8.5% year over year to $10.37 billion, while adjusted EPS of $6.45 beat estimates. Amgen raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and GAAP EPS outlook to $18.34–$19.28. Article: AMGN Q3 Earnings Call Highlights Pipeline and Raised Outlook
- Positive Sentiment: Growth drugs and pipeline offer upside: Repatha and IMDELLTRA helped offset pressure elsewhere, and clinical progress for IMDELLTRA and other candidates supports longer-term growth potential. Investors are also watching for MariTide data. Article: Amgen lifts 2026 outlook as Repatha and Imdelltra offset biosimilar hit to Prolia
- Neutral Sentiment: Analyst views remain mixed: Some firms raised price targets, but several targets remain below the recent share price, and Bank of America maintained a Sell rating. That points to valuation concerns despite the improved outlook. Article: Amgen Sell Rating Maintained Despite Price-Target Increase
- Negative Sentiment: Legacy-drug declines are a headwind: Steep declines in Prolia and Xgeva, amid biosimilar competition, are weighing on sentiment and help explain why the earnings beat did not produce an uniformly positive reaction. Article: AMGN Stock Down Despite Q3 Earnings & Sales Beat, Raised Guidance
About Amgen
Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.
The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.
Founded in 1980, Amgen is headquartered in Thousand Oaks, California.
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