Amgen (NASDAQ:AMGN) Price Target Raised to $362.00

Amgen (NASDAQ:AMGN) had its price objective raised by Truist Financial from $340.00 to $362.00 in a report released on Wednesday morning, Marketbeat Ratings reports. Truist Financial currently has a hold rating on the medical research company’s stock.

A number of other research firms also recently commented on AMGN. Mizuho boosted their target price on Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 16th. Oppenheimer boosted their price objective on shares of Amgen from $400.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday. Royal Bank Of Canada increased their price objective on shares of Amgen from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday. Cantor Fitzgerald restated a “neutral” rating and set a $350.00 target price on shares of Amgen in a report on Monday, July 6th. Finally, Canaccord Genuity Group lifted their target price on shares of Amgen from $366.00 to $384.00 and gave the stock a “hold” rating in a research report on Wednesday. One equities 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 issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $370.07.

Amgen Price Performance

AMGN stock opened at $410.95 on Wednesday. The business has a 50 day moving average price of $362.77 and a 200 day moving average price of $356.24. The company has a quick ratio of 1.01, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. 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. Amgen has a fifty-two week low of $269.77 and a fifty-two week high of $418.40.

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, topping the consensus estimate of $5.62 by $0.67. The company had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities research analysts anticipate that Amgen will post 22.73 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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 (DPR) is presently 62.65%.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 Trading of Amgen

Hedge funds have recently bought and sold shares of the company. Roman Butler Fullerton & Co. boosted its holdings in Amgen by 1.4% during the second quarter. Roman Butler Fullerton & Co. now owns 1,956 shares of the medical research company’s stock valued at $705,000 after purchasing an additional 27 shares in the last quarter. High Note Wealth LLC grew its stake in Amgen by 5.8% during the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock worth $166,000 after buying an additional 28 shares during the last quarter. TAGStone Capital Inc. raised its position in Amgen by 0.7% in the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company’s stock valued at $1,351,000 after purchasing an additional 28 shares during the last quarter. Verus Capital Partners LLC increased its stake in shares of Amgen by 2.3% in the fourth quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company’s stock valued at $403,000 after buying an additional 28 shares in the last quarter. Finally, Destination Wealth Management boosted its position in Amgen by 2.1% in the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company’s stock valued at $456,000 after buying an additional 29 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen News Roundup

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

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.