Cantor Fitzgerald Forecasts Strong Price Appreciation for Amgen (NASDAQ:AMGN) Stock

Amgen (NASDAQ:AMGN) had its price objective increased by research analysts at Cantor Fitzgerald from $440.00 to $465.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Cantor Fitzgerald‘s price target would indicate a potential upside of 0.81% from the stock’s current price.

Several other analysts have also weighed in on AMGN. Mizuho boosted their price objective on Amgen from $303.00 to $352.00 and gave the company a “neutral” rating in a report on Tuesday, August 18th. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Wednesday. UBS Group raised their price objective on Amgen from $430.00 to $470.00 and gave the stock a “buy” rating in a research note on Friday, October 9th. Guggenheim reduced their price objective on Amgen from $388.00 to $378.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Finally, Canaccord Genuity Group lifted their price objective on shares of Amgen from $366.00 to $384.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $391.68.

Amgen Price Performance

Shares of AMGN stock opened at $461.26 on Wednesday. The firm has a fifty day moving average of $420.83 and a two-hundred day moving average of $376.16. The firm has a market cap of $249.37 billion, a P/E ratio of 28.67, a P/E/G ratio of 3.41 and a beta of 0.43. Amgen has a 1-year low of $294.48 and a 1-year high of $475.64. 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 (NASDAQ:AMGN) last issued its earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.79 by $0.66. The business had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.07 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.64 EPS. As a group, research analysts anticipate that Amgen will post 22.96 earnings per share for the current fiscal year.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,252 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the transaction, the senior vice president owned 6,404 shares in the company, valued at $2,666,817.72. The trade was a 16.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nancy Grygiel sold 2,970 shares of the business’s stock in a transaction that occurred on 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 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 SEC filing for this sale provides additional information. In the last three months, insiders sold 6,222 shares of company stock worth $2,540,926. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Amgen

Several hedge funds and other institutional investors have recently modified their holdings of AMGN. BlackRock Inc. raised its holdings in shares of Amgen by 4.8% during the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after buying an additional 2,261,544 shares during the last quarter. State Street Corp boosted its position in shares of Amgen by 38.2% during the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock worth $15,283,363,000 after buying an additional 11,656,755 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Amgen by 12.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company’s stock worth $1,952,156,000 after buying an additional 605,928 shares in the last quarter. Bank of America Corp DE bought a new position in Amgen in the 2nd quarter worth approximately $1,831,903,000. Finally, Amundi grew its holdings in Amgen by 15.2% in the 2nd quarter. Amundi now owns 3,890,189 shares of the medical research company’s stock worth $1,408,715,000 after buying an additional 512,883 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported third-quarter revenue of $10.37 billion, up 8.5% year over year, and adjusted earnings of $6.45 per share. Both figures beat analyst estimates. The company also raised its 2026 revenue and earnings outlook; its revenue midpoint was slightly above consensus. Amgen Raises 2026 Outlook as Q3 Revenue Grows 8% to $10.4 Billion
• Positive Sentiment: Six key growth products reportedly increased sales by 27%, helping offset declining TEPEZZA sales. The company also highlighted pipeline progress, though investors are awaiting further MariTide data. Amgen Q3 2026 Earnings Call Highlights
• Neutral Sentiment: Amgen’s quality chief is retiring and an internal deputy will take over. The transition may draw attention, but the report did not indicate an immediate operational change. Amgen’s quality chief to retire as internal successor steps up
• Negative Sentiment: Despite the earnings beat, investors focused on biosimilar competition facing key products, which weighed on shares after the report. TEPEZZA’s sales decline also highlights pressure within the portfolio. Amgen beats estimates but shares dip on biosimilar concerns
• Negative Sentiment: A recent FDA warning letter over alleged misleading promotion of cancer drug Vectibix adds regulatory risk, though it was not the main focus of the earnings news. Amgen Gets FDA Warning Letter Over Misleading 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.