Amgen (NASDAQ:AMGN) Sets New 12-Month High After Analyst Upgrade

Posted by on Aug 18th, 2026

Shares of Amgen Inc. (NASDAQ:AMGN – Get Free Report) reached a new 52-week high during trading on Tuesday after Cantor Fitzgerald raised their price target on the stock from $350.00 to $400.00. Cantor Fitzgerald currently has a neutral rating on the stock. Amgen traded as high as $422.94 and last traded at $423.9560, with a volume of 6533 shares changing hands. The stock had previously closed at $419.38.

Other research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Wells Fargo & Company increased their target price on shares of Amgen from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. TD Cowen raised their price target on Amgen from $420.00 to $452.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Mizuho boosted their price target on Amgen from $303.00 to $352.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Bank of America upped their price objective on Amgen from $312.00 to $317.00 and gave the company an “underperform” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price of $375.93.

View Our Latest Stock Analysis on Amgen

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction that occurred 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 directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 1,252 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 in the last ninety days. 0.85% of the stock is owned by corporate insiders.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

  • Positive Sentiment: Amgen completed a Phase 1 study comparing two formulations of evolocumab, its cholesterol-lowering treatment. The update provides continued support for the company’s established cardiovascular franchise, although further data will be needed to assess commercial significance. Amgen’s Evolocumab Formulation Study Signals Steady Support for Its Cholesterol Franchise
  • Positive Sentiment: Recent operating momentum remains a backdrop for the stock: Amgen’s latest quarterly results exceeded consensus estimates for both earnings and revenue, with revenue increasing 9.5% year over year. The company maintained fiscal 2026 earnings guidance of $22.30 to $23.50 per share.
  • Neutral Sentiment: Cantor Fitzgerald raised its Amgen price target from $350 to $400 but kept a “neutral” rating. The higher target reflects improved valuation assumptions, but it remains below the stock’s recent trading level. Benzinga
  • Negative Sentiment: Mizuho also lifted its target, from $303 to $352, while retaining a “neutral” rating. The target implies substantial downside from the current level, reinforcing concerns that Amgen’s recent rally may have outpaced analyst expectations. Benzinga

Institutional Investors Weigh In On Amgen

A number of hedge funds and other institutional investors have recently bought and sold shares of AMGN. Dogwood Wealth Management LLC lifted its stake in shares of Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 55 shares during the period. Anfield Capital Management LLC grew its position in Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after buying an additional 70 shares during the period. Tower View Wealth Management LLC grew its position in Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after buying an additional 63 shares during the period. Manning & Napier Advisors LLC increased its holdings in Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after buying an additional 32 shares in the last quarter. Finally, Ares Financial Consulting LLC purchased a new position in Amgen in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

The stock’s 50-day moving average price is $372.05 and its 200-day moving average price is $359.47. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. The company has a market capitalization of $228.93 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 3.86 and a beta of 0.41.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The business had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same quarter in the previous year, the company earned $6.02 EPS. The company’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. As a group, equities research analysts expect that Amgen Inc. will post 22.78 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a $2.52 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.4%. Amgen’s dividend payout ratio is 62.65%.

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.

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