Amgen (NASDAQ:AMGN) Price Target Raised to $400.00

Amgen (NASDAQ:AMGN) had its price target raised by Royal Bank Of Canada from $370.00 to $400.00 in a research note released on Wednesday, Marketbeat Ratings reports. They currently have an outperform rating on the medical research company’s stock.

AMGN has been the topic of several other research reports. UBS Group lifted their price objective on shares of Amgen from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Daiwa Securities Group dropped their target price on Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Truist Financial raised their target price on shares of Amgen from $327.00 to $340.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Bank of America increased their target price on Amgen from $312.00 to $317.00 and gave the company an “underperform” rating in a research report on Wednesday. Finally, Canaccord Genuity Group raised their target price on Amgen from $366.00 to $384.00 and gave the stock a “hold” rating in a research note on Wednesday. One equities research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $370.07.

Amgen Stock Performance

Amgen stock opened at $410.95 on Wednesday. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.01 and a current ratio of 1.37. The stock has a market cap of $221.79 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 3.77 and a beta of 0.41. The stock’s 50 day simple moving average is $362.77 and its two-hundred day simple moving average is $356.24. Amgen has a fifty-two week low of $269.77 and a fifty-two week high of $418.40.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The company had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. During the same quarter in the prior year, the business posted $6.02 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, analysts expect that Amgen will post 22.73 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares of the company’s stock, valued at $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Amgen by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock valued at $17,949,296,000 after buying an additional 961,975 shares in the last quarter. BlackRock Inc. increased its stake in Amgen by 4.8% during the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock worth $17,874,974,000 after purchasing an additional 2,261,544 shares in the last quarter. State Street Corp raised its holdings in shares of Amgen by 4.4% in the fourth 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 last quarter. Capital World Investors increased its holdings in Amgen by 22.9% during the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock worth $7,560,249,000 after buying an additional 4,302,237 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Amgen by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after purchasing an additional 1,035,779 shares during 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: 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.