Truist Financial Forecasts Strong Price Appreciation for Amgen (NASDAQ:AMGN) Stock

Amgen (NASDAQ:AMGN) had its price target hoisted by investment analysts at Truist Financial from $380.00 to $398.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the medical research company’s stock. Truist Financial‘s price target suggests a potential downside of 16.02% from the company’s current price.

Several other equities research analysts also recently issued reports on AMGN. Mizuho raised their target price on shares of Amgen from $303.00 to $352.00 and gave the company a “neutral” rating in a research note on Tuesday, August 18th. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Wednesday. Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a research report on Sunday, October 18th. HSBC lowered Amgen from a “buy” rating to a “hold” rating and dropped their price objective for the company from $445.00 to $425.00 in a research note on Thursday, September 10th. Finally, Scotiabank raised their price objective on Amgen from $450.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $394.32.

Amgen Stock Performance

NASDAQ AMGN traded up $12.69 on Wednesday, hitting $473.95. 1,125,866 shares of the stock were exchanged, compared to its average volume of 2,739,970. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. The business’s fifty day moving average is $420.83 and its 200 day moving average is $376.16. Amgen has a 52 week low of $302.13 and a 52 week high of $482.00. The company has a market capitalization of $256.23 billion, a PE ratio of 29.38, a P/E/G ratio of 3.41 and a beta of 0.43.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 3rd. The medical research company reported $6.45 EPS for the quarter, beating analysts’ consensus estimates of $5.79 by $0.66. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.07 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $5.64 EPS. Research analysts anticipate that Amgen will post 22.96 EPS for the current fiscal year.

Insider Activity

In related news, SVP Rachna Khosla sold 1,252 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the transaction, the senior vice president owned 6,404 shares in the company, valued at approximately $2,666,817.72. This represents a 16.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $1,194,415.20. Following the completion of the transaction, the senior vice president directly owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,222 shares of company stock valued at $2,540,926 in the last ninety days. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amgen

A number of institutional investors have recently made changes to their positions in AMGN. Beverly Hills Private Wealth LLC grew its holdings in Amgen by 2.6% during the 3rd quarter. Beverly Hills Private Wealth LLC now owns 2,399 shares of the medical research company’s stock worth $1,011,000 after acquiring an additional 60 shares during the period. Almanack Investment Partners LLC. raised its position in shares of Amgen by 7.5% in the 3rd quarter. Almanack Investment Partners LLC. now owns 2,553 shares of the medical research company’s stock worth $1,076,000 after acquiring an additional 178 shares in the last quarter. M Holdings Securities Inc. bought a new position in shares of Amgen in the 3rd quarter worth about $1,584,000. Shepherd Financial Partners LLC lifted its stake in shares of Amgen by 2.9% in the 3rd quarter. Shepherd Financial Partners LLC now owns 4,591 shares of the medical research company’s stock valued at $1,935,000 after purchasing an additional 129 shares during the period. Finally, Brighton Jones LLC lifted its stake in shares of Amgen by 1.6% in the 3rd quarter. Brighton Jones LLC now owns 34,826 shares of the medical research company’s stock valued at $14,680,000 after purchasing an additional 545 shares during the period. Institutional investors own 76.50% of the company’s stock.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen beat estimates, reporting Q3 revenue of $10.37 billion, up 8.5% year over year, and adjusted EPS of $6.45. It raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and GAAP EPS outlook to $18.34–$19.28. Article: Amgen lifts 2026 outlook
• Positive Sentiment: Growth in medicines including Repatha and Imdelltra helped offset pressure elsewhere. Positive Phase 3 findings for Imdelltra, Tezspire and dazodalibep also support Amgen’s longer-term pipeline prospects. Article: How Investors May Respond To Amgen Earnings Beat
• Neutral Sentiment: Analyst price-target changes were mixed: Bernstein raised its target to $400 and BMO Capital to $442, while Cantor Fitzgerald lifted its target to $465 and kept a neutral rating. Article: BMO Capital adjusts price target
• Negative Sentiment: Investors focused on falling Prolia and Xgeva sales as biosimilar competition intensifies. Those declines tempered the otherwise positive earnings report and help explain why the shares weakened despite the beat and higher guidance. Article: AMGN Stock Down Despite Q3 Earnings & Sales Beat, Raised Guidance
• Negative Sentiment: The FDA issued Amgen a warning letter over allegedly misleading promotion of Vectibix, adding regulatory risk. Article: Amgen Gets FDA Warning Letter Over Vectibix Promotion

Amgen Company Profile

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.