Amgen (NASDAQ:AMGN) Stock Price Expected to Rise, TD Cowen Analyst Says

Amgen (NASDAQ:AMGN) had its price objective hoisted by equities research analysts at TD Cowen from $420.00 to $452.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. TD Cowen’s price objective suggests a potential upside of 11.30% from the company’s previous close.

A number of other analysts have also recently commented on AMGN. Robert W. Baird boosted their price objective on Amgen from $215.00 to $230.00 and gave the company an “underperform” rating in a research report on Wednesday. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Royal Bank Of Canada boosted their price target on shares of Amgen from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday. Mizuho boosted their price target on Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 16th. Finally, Erste Group Bank reissued a “hold” rating on shares of Amgen in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $366.86.

Amgen Stock Performance

AMGN traded up $16.11 on Wednesday, reaching $406.12. The stock had a trading volume of 3,806,323 shares, compared to its average volume of 2,743,922. Amgen has a 12-month low of $269.77 and a 12-month high of $416.24. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The business’s 50-day moving average price is $358.49 and its two-hundred day moving average price is $354.79. The company has a market cap of $219.19 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 3.83 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last posted its 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. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same period in the prior year, the company posted $6.02 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Sell-side analysts forecast that Amgen will post 22.31 earnings per share for the current year.

Hedge Funds Weigh In On Amgen

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in Amgen during the 4th quarter worth $2,164,162,000. Capital World Investors lifted its stake in shares of Amgen by 22.9% in the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after purchasing an additional 4,302,237 shares during the period. State Street Corp boosted its stake in shares of Amgen by 4.4% during the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock worth $10,012,872,000 after acquiring an additional 1,287,310 shares in the last quarter. Geode Capital Management LLC boosted its position in Amgen by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock worth $4,665,822,000 after purchasing an additional 1,035,779 shares in the last quarter. Finally, Amundi boosted its position in shares of Amgen by 41.1% in the 4th quarter. Amundi now owns 3,396,945 shares of the medical research company’s stock worth $1,111,854,000 after buying an additional 988,856 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: Q2 results exceeded expectations: Adjusted EPS was $6.29 versus the approximately $5.60–$5.62 consensus, while revenue rose 9.5% year over year to $10.05 billion, above estimates near $9.43 billion. Amgen second-quarter sales rise 9%, profit tops Street view
• Positive Sentiment: Guidance was raised: Amgen now expects 2026 revenue of $38.2 billion to $39.4 billion, compared with a prior outlook near $37.2 billion to $38.4 billion. The midpoint is above Wall Street expectations, reinforcing confidence in the company’s commercial momentum. Amgen Hikes Sales Outlook By $1 Billion After Second-Quarter Smash
• Positive Sentiment: Newer products drove growth: Repatha and EVENITY sales increased 37% and 38%, respectively, and 22 products posted double-digit sales growth. Management also highlighted cash generation and continued investment in its late-stage pipeline, including obesity candidate MariTide.
• Positive Sentiment: Several analysts raised targets: BMO Capital Markets, Scotiabank and Oppenheimer lifted their targets to $450 and maintained bullish ratings. William Blair also reiterated a Buy rating, citing the earnings beat, raised outlook and pipeline catalysts.
• Neutral Sentiment: Analyst views remain mixed: Morgan Stanley, Wells Fargo, Canaccord and Truist raised targets but retained Hold or Equal Weight ratings. Some targets remain below the current trading level, suggesting valuation has become a key debate after the rally.
• Negative Sentiment: Legacy-product pressure persists: Prolia and XGEVA sales declined 32% and 34%, respectively, because of biosimilar competition. Amgen also halted early development of a Phase 1 obesity treatment, although its separate MariTide program remains active.
• Negative Sentiment: Additional risk factors remain: Reports of a patient-data breach and a review of clinical data supporting Tavneos could create legal, regulatory and reputational exposure.

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.