Bank of America Issues Positive Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price objective hoisted by equities research analysts at Bank of America from $312.00 to $317.00 in a research report issued on Wednesday. The brokerage presently has an “underperform” rating on the medical research company’s stock. Bank of America‘s target price indicates a potential downside of 18.85% from the stock’s previous close.

Several other research analysts have also recently weighed in on AMGN. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Royal Bank Of Canada reiterated a “positive” rating on shares of Amgen in a research report on Thursday, June 18th. UBS Group raised their price objective on Amgen from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Mizuho lifted their price objective on Amgen from $295.00 to $303.00 and gave the company a “neutral” rating in a report on Tuesday, June 16th. Finally, Daiwa Securities Group reduced their target price on Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $361.30.

Amgen Stock Performance

Shares of AMGN opened at $390.63 on Wednesday. The firm has a market cap of $210.83 billion, a P/E ratio of 27.18, a PEG ratio of 3.83 and a beta of 0.41. Amgen has a twelve month low of $269.77 and a twelve month high of $398.00. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. The firm’s 50 day moving average price is $358.49 and its two-hundred day moving average price is $354.79.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. During the same period last year, the company earned $6.02 earnings per share. Amgen’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. On average, analysts forecast that Amgen will post 22.31 EPS for the current fiscal year.

Institutional Trading of Amgen

Institutional investors and hedge funds have recently modified their holdings of the business. High Note Wealth LLC boosted its stake in Amgen by 5.8% in the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock valued at $166,000 after acquiring an additional 28 shares during the last quarter. TAGStone Capital Inc. raised its holdings in shares of Amgen by 0.7% in the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company’s stock worth $1,351,000 after purchasing an additional 28 shares during the period. Verus Capital Partners LLC raised its holdings in shares of Amgen by 2.3% in the 4th quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company’s stock worth $403,000 after purchasing an additional 28 shares during the period. Destination Wealth Management lifted its stake in Amgen by 2.1% in the fourth quarter. Destination Wealth Management now owns 1,393 shares of the medical research company’s stock valued at $456,000 after purchasing an additional 29 shares during the last quarter. Finally, Breakwater Capital Group lifted its stake in Amgen by 1.4% in the first quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company’s stock valued at $717,000 after purchasing an additional 29 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q2 results exceeded expectations: Adjusted earnings were $6.29 per share versus the $5.62 consensus, while revenue rose 9.5% year over year to $10.05 billion, beating estimates of $9.43 billion. The company cited broad-based demand, with 22 products delivering double-digit sales growth. Amgen second-quarter sales rise 9%, profit tops Street view
• Positive Sentiment: Full-year guidance was raised: Amgen now expects 2026 revenue of $38.2 billion to $39.4 billion, above the previous outlook and ahead of Wall Street’s estimate. Stronger sales of Repatha, Evenity and rare-disease medicines are helping offset declines in Prolia and XGEVA. Amgen Lifts Outlook on Strong Drug Sales
• Positive Sentiment: Pipeline and analyst confidence remain supportive: William Blair reiterated a Buy rating, pointing to late-stage pipeline catalysts and portfolio growth. Amgen also continues development of MariTide, its experimental obesity treatment, and extended a Phase 3 obesity study, preserving a potential long-term growth opportunity. Analyst Maintains Buy on Amgen
• Neutral Sentiment: Amgen generated $3.5 billion in free cash flow and held $14 billion in cash at quarter-end, supporting financial flexibility. However, the company’s high leverage and valuation may limit further gains if growth expectations are already reflected in the stock.
• Negative Sentiment: Cybersecurity and regulatory risks could weigh on sentiment: Amgen disclosed a data breach involving patient and proprietary information, and a law firm has launched a class-action investigation. Regulators are also reviewing data supporting Tavneos after the retraction of a pivotal publication, creating potential legal, reputational and commercial risks. Amgen data breach class-action investigation
• Negative Sentiment: Amgen is ending early development of another Phase 1 obesity treatment, reducing the breadth of its weight-loss pipeline, even though MariTide remains in development.

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.