Amgen (NASDAQ:AMGN) Stock Price Target Raised at The Goldman Sachs Group

Amgen (NASDAQ:AMGN) had its price objective increased by The Goldman Sachs Group from $481.00 to $536.00 in a research report sent to investors on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the medical research company’s stock.

AMGN has been the subject of several other reports. Wells Fargo & Company boosted their target price on shares of Amgen from $430.00 to $460.00 and gave the stock an “equal weight” rating in a research report on Wednesday. BMO Capital Markets cut their price target on Amgen from $450.00 to $415.00 and set a “market perform” rating for the company in a research note on Monday, October 12th. Canaccord Genuity Group boosted their price objective on Amgen from $384.00 to $440.00 and gave the stock a “hold” rating in a report on Wednesday. Jefferies Financial Group reissued a “hold” rating and issued a $410.00 price objective on shares of Amgen in a research note on Wednesday, September 23rd. Finally, Argus raised their target price on Amgen from $375.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $413.38.

Amgen Stock Performance

Shares of Amgen stock opened at $478.48 on Wednesday. The business has a 50-day moving average price of $421.56 and a two-hundred day moving average price of $376.90. Amgen has a 1-year low of $302.13 and a 1-year high of $482.48. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The company has a market cap of $258.68 billion, a P/E ratio of 27.75, a PEG ratio of 3.38 and a beta of 0.43.

Amgen (NASDAQ:AMGN) last released 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 company had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.07 billion. Amgen had a net margin of 24.14% and a return on equity of 128.15%. Amgen’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.64 EPS. As a group, analysts anticipate that Amgen will post 22.96 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 20th will be paid a $2.52 dividend. The ex-dividend date is Friday, November 20th. This represents a $10.08 annualized dividend and a yield of 2.1%. Amgen’s dividend payout ratio (DPR) is 62.65%.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the transaction, the senior vice president owned 6,404 shares of the company’s stock, valued at $2,642,098.28. This trade represents a 23.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp grew its position in shares of Amgen by 38.2% during the 2nd quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock valued at $15,283,363,000 after acquiring an additional 11,656,755 shares during the period. Bank of America Corp DE bought a new stake in shares of Amgen in the 2nd quarter worth approximately $1,831,903,000. Wellington Management Group LLP raised its holdings in shares of Amgen by 1,102.7% in the 2nd quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company’s stock worth $993,031,000 after purchasing an additional 2,514,254 shares during the period. BlackRock Inc. lifted its stake in Amgen by 4.8% in 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 purchasing an additional 2,261,544 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Amgen by 702.8% in the third quarter. Assenagon Asset Management S.A. now owns 1,535,257 shares of the medical research company’s stock valued at $647,126,000 after purchasing an additional 1,344,010 shares during the last quarter. 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: Amgen reported adjusted earnings of $6.45 per share and revenue of $10.37 billion, topping analyst estimates; revenue increased 8.5% year over year. The company also raised its 2026 outlook to $38.9 billion–$39.7 billion in revenue and $18.34–$19.28 in GAAP EPS. Amgen third-quarter financial results
• Positive Sentiment: Growth in medicines including Repatha and IMDELLTRA helped offset pressure elsewhere. Amgen also highlighted pipeline progress, including IMDELLTRA and potential longer-term growth from its obesity candidate MariTide. Amgen raises 2026 outlook
• Positive Sentiment: Several firms raised their targets, including UBS and Scotiabank to $530 and Goldman Sachs to $536, with buy or outperform ratings. These revisions suggest some analysts see further upside after the results. Analyst views and revised targets
• Neutral Sentiment: Analyst opinion remains divided: some target increases still leave estimates below the prevailing share price, and MariTide data is a future catalyst rather than a near-term result. RBC Capital adjusts Amgen target
• Negative Sentiment: Investors remain concerned about steep declines in Prolia and Xgeva as biosimilar competition weighs on sales. That erosion may limit how much growth from newer products translates into future results. Sales and biosimilar concerns

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.