Guggenheim Issues Positive Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price target increased by stock analysts at Guggenheim from $378.00 to $435.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the medical research company’s stock. Guggenheim‘s price target would indicate a potential downside of 7.18% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. UBS Group increased their price target on Amgen from $470.00 to $530.00 and gave the company a “buy” rating in a report on Wednesday. Barclays lifted their target price on shares of Amgen from $380.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 21st. Weiss Ratings raised Amgen from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Canaccord Genuity Group increased their target price on Amgen from $384.00 to $440.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Bank of America raised their target price on Amgen from $312.00 to $317.00 and gave the company an “underperform” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus target price of $415.34.

Amgen Stock Down 2.1%

Shares of NASDAQ:AMGN traded down $9.81 during midday trading on Thursday, hitting $468.67. 1,215,094 shares of the stock were exchanged, compared to its average volume of 2,750,314. Amgen has a 52-week low of $312.39 and a 52-week high of $483.99. The business’s fifty day simple moving average is $421.56 and its two-hundred day simple moving average is $376.90. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. The company has a market capitalization of $253.37 billion, a PE ratio of 27.19, a P/E/G ratio of 3.38 and a beta of 0.43.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, November 3rd. The medical research company reported $6.45 EPS for the quarter, beating the consensus estimate of $5.79 by $0.66. The business had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $10.07 billion. Amgen had a return on equity of 128.15% and a net margin of 24.14%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.64 EPS. As a group, research analysts predict that Amgen will post 22.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 1,252 shares of the 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 completion of the transaction, the senior vice president owned 6,404 shares of the company’s stock, valued at $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amgen

Large investors have recently modified their holdings of the stock. Rational Advisors Inc. increased its position in shares of Amgen by 13.7% during the 2nd quarter. Rational Advisors Inc. now owns 199 shares of the medical research company’s stock worth $72,000 after purchasing an additional 24 shares in the last quarter. Beacon Financial Advisory LLC boosted its position in Amgen by 2.0% in the second quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company’s stock valued at $461,000 after buying an additional 25 shares in the last quarter. James T. Borello RIA boosted its position in Amgen by 13.6% in the third quarter. James T. Borello RIA now owns 209 shares of the medical research company’s stock valued at $88,000 after buying an additional 25 shares in the last quarter. Sweeney & Michel LLC grew its stake in Amgen by 0.5% during the third quarter. Sweeney & Michel LLC now owns 5,129 shares of the medical research company’s stock worth $2,162,000 after buying an additional 25 shares during the last quarter. Finally, Legacy Financial Advisors Inc. grew its stake in Amgen by 0.8% during the second quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company’s stock worth $1,234,000 after buying an additional 26 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported that Repatha reduced fatal or nonfatal heart-attack risk by 20% versus ezetimibe in a real-world study of more than 500,000 people with cardiovascular disease and prior statin use. The evidence may strengthen Repatha’s clinical positioning, though the announcement did not quantify any financial impact. Repatha study
• Positive Sentiment: Third-quarter adjusted EPS of $6.45 and revenue of $10.37 billion topped estimates, with revenue up 8.5% year over year. Amgen also raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and GAAP EPS outlook to $18.34–$19.28, supporting expectations for continued growth. Third-quarter results
• Neutral Sentiment: Analyst views remain divided: Goldman Sachs raised its target to $536 and kept a Buy rating, while Morgan Stanley raised its target to $410 but maintained Equal Weight. The varied targets reflect uncertainty about how much further the shares can rise after a strong run. Morgan Stanley price target
• Negative Sentiment: Investors continue to weigh biosimilar pressure and sharp declines in Prolia and Xgeva sales against growth elsewhere in the portfolio. That erosion could constrain future results if newer products do not offset it quickly enough. Product sales and competition

About Amgen

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.