Robert W. Baird Boosts Amgen (NASDAQ:AMGN) Price Target to $230.00

Amgen (NASDAQ:AMGN) had its target price increased by Robert W. Baird from $215.00 to $230.00 in a report issued on Wednesday. The firm presently has an “underperform” rating on the medical research company’s stock. Robert W. Baird’s price objective points to a potential downside of 41.12% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. UBS Group raised their price target 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. Barclays lifted their target price on Amgen from $350.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. Royal Bank Of Canada reaffirmed a “positive” rating on shares of Amgen in a report on Thursday, June 18th. BMO Capital Markets lifted their price objective on Amgen from $400.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley dropped their price target on shares of Amgen from $340.00 to $333.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $361.30.

Amgen Stock Performance

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

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMGN. Vanguard Group Inc. raised its position in Amgen by 1.8% during 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 purchasing an additional 961,975 shares in the last quarter. State Street Corp boosted its stake in shares of Amgen by 4.4% during 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 in the last quarter. Capital World Investors raised its stake in Amgen by 22.9% in 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 in the last quarter. Geode Capital Management LLC boosted its position in Amgen by 7.8% during the 4th 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 acquiring an additional 1,035,779 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Amgen during the 4th quarter worth $2,164,162,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

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.

About Amgen

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.