Wall Street Zen Upgrades Amgen (NASDAQ:AMGN) to Buy

Amgen (NASDAQ:AMGN) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $350.00 price objective on shares of Amgen in a research note on Monday, July 6th. Barclays upped their target price on shares of 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 raised their price target on shares of Amgen from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Sanford C. Bernstein lifted their price target on Amgen from $335.00 to $345.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Mizuho boosted their price objective on Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $370.07.

Amgen Stock Performance

NASDAQ AMGN opened at $410.95 on Friday. The business has a 50 day simple moving average of $362.77 and a 200 day simple moving average of $356.43. The stock has a market capitalization of $222.17 billion, a P/E ratio of 25.54, a P/E/G ratio of 3.82 and a beta of 0.41. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. Amgen has a one year low of $269.77 and a one year high of $418.40.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.62 by $0.67. The firm had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The company’s quarterly revenue was up 9.5% on a year-over-year basis. 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. Research analysts expect that Amgen will post 22.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 2,970 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the transaction, the senior vice president directly owned 7,340 shares in the company, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Anfield Capital Management LLC lifted its holdings 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 acquiring an additional 70 shares during the period. Dogwood Wealth Management LLC grew its stake in Amgen by 275.0% in the 4th 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. Tower View Wealth Management LLC grew its stake in Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 63 shares during the period. Manning & Napier Advisors LLC increased its position in shares of Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Amgen during the 4th quarter valued at $34,000. Hedge funds and other 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

Amgen Company Profile

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.