Amgen (NASDAQ:AMGN) Price Target Raised to $450.00

Amgen (NASDAQ:AMGN) had its target price lifted by BMO Capital Markets from $400.00 to $450.00 in a report issued on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the medical research company’s stock.

Several other research analysts have also weighed in on AMGN. Guggenheim boosted their price objective on shares of Amgen from $340.00 to $343.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Barclays lifted their price target on Amgen from $350.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. Royal Bank Of Canada reissued a “positive” rating on shares of Amgen in a research report on Thursday, June 18th. Weiss Ratings lowered Amgen from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 15th. Finally, Daiwa Securities Group cut their price objective on Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $370.07.

Amgen Trading Up 1.5%

NASDAQ AMGN opened at $410.95 on Wednesday. The company has a market cap of $221.79 billion, a PE ratio of 25.54, a PEG ratio of 3.77 and a beta of 0.41. The company has a current ratio of 1.37, a quick ratio of 1.01 and a debt-to-equity ratio of 4.44. Amgen has a 12 month low of $269.77 and a 12 month high of $418.40. The stock has a 50 day moving average of $362.77 and a 200-day moving average of $356.24.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. During the same period in the previous year, the company earned $6.02 earnings per share. The firm’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. On average, equities research analysts anticipate that Amgen will post 22.73 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.5%. Amgen’s payout ratio is presently 62.65%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president directly owned 7,340 shares of the company’s stock, valued at $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 is available through this hyperlink. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Amgen

Large investors have recently made changes to their positions in the company. Norges Bank bought a new position in Amgen during the fourth quarter worth about $2,164,162,000. Capital World Investors raised its stake in Amgen by 22.9% in the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock worth $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. BlackRock Inc. boosted its holdings in Amgen by 4.8% in the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after purchasing an additional 2,261,544 shares during the period. State Street Corp boosted its holdings in Amgen by 4.4% in the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock valued at $10,012,872,000 after purchasing an additional 1,287,310 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of 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 during the period. Institutional investors own 76.50% of the company’s stock.

Amgen News Roundup

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.