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

Amgen (NASDAQ:AMGN) had its price objective increased by research analysts at UBS Group from $420.00 to $440.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. UBS Group’s target price would suggest a potential upside of 7.89% from the stock’s current price.

A number of other equities research analysts have also recently commented on AMGN. Daiwa Securities Group reduced their target price on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Royal Bank Of Canada boosted their price target on shares of Amgen from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday. Argus dropped their price objective on Amgen from $400.00 to $375.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. TD Cowen increased their target price on shares of Amgen from $420.00 to $452.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Weiss Ratings downgraded Amgen from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $367.57.

Amgen Stock Performance

Shares of AMGN traded up $17.81 during mid-day trading on Wednesday, reaching $407.83. 5,560,324 shares of the company’s stock were exchanged, compared to its average volume of 2,756,878. The business’s fifty day simple moving average is $358.49 and its 200-day simple moving average is $354.79. The stock has a market capitalization of $220.11 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 3.83 and a beta of 0.41. Amgen has a 52-week low of $269.77 and a 52-week high of $416.24. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.62 by $0.67. The firm had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. Amgen’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities research analysts expect that Amgen will post 22.31 earnings per share for the current year.

Institutional Investors Weigh In On Amgen

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dogwood Wealth Management LLC grew its position in shares of Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after buying an additional 55 shares during the last quarter. Anfield Capital Management LLC lifted its position in Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after purchasing an additional 70 shares during the period. Tower View Wealth Management LLC boosted its stake in Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after buying an additional 63 shares in the last quarter. Manning & Napier Advisors LLC grew its stake in shares of Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Ares Financial Consulting LLC acquired a new position in Amgen in the fourth quarter worth approximately $34,000. Institutional investors own 76.50% of the company’s stock.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q2 results exceeded expectations: Adjusted EPS was $6.29 versus the approximately $5.60–$5.62 consensus, while revenue rose 9.5% year over year to $10.05 billion, above estimates near $9.43 billion. Amgen second-quarter sales rise 9%, profit tops Street view
• Positive Sentiment: Guidance was raised: Amgen now expects 2026 revenue of $38.2 billion to $39.4 billion, compared with a prior outlook near $37.2 billion to $38.4 billion. The midpoint is above Wall Street expectations, reinforcing confidence in the company’s commercial momentum. Amgen Hikes Sales Outlook By $1 Billion After Second-Quarter Smash
• Positive Sentiment: Newer products drove growth: Repatha and EVENITY sales increased 37% and 38%, respectively, and 22 products posted double-digit sales growth. Management also highlighted cash generation and continued investment in its late-stage pipeline, including obesity candidate MariTide.
• Positive Sentiment: Several analysts raised targets: BMO Capital Markets, Scotiabank and Oppenheimer lifted their targets to $450 and maintained bullish ratings. William Blair also reiterated a Buy rating, citing the earnings beat, raised outlook and pipeline catalysts.
• Neutral Sentiment: Analyst views remain mixed: Morgan Stanley, Wells Fargo, Canaccord and Truist raised targets but retained Hold or Equal Weight ratings. Some targets remain below the current trading level, suggesting valuation has become a key debate after the rally.
• Negative Sentiment: Legacy-product pressure persists: Prolia and XGEVA sales declined 32% and 34%, respectively, because of biosimilar competition. Amgen also halted early development of a Phase 1 obesity treatment, although its separate MariTide program remains active.
• Negative Sentiment: Additional risk factors remain: Reports of a patient-data breach and a review of clinical data supporting Tavneos could create legal, regulatory and reputational exposure.

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.