Amgen (NASDAQ:AMGN) Hits New 1-Year High – Time to Buy?

Shares of Amgen Inc. (NASDAQ:AMGN) hit a new 52-week high on Tuesday . The company traded as high as $395.15 and last traded at $393.7690, with a volume of 360618 shares changing hands. The stock had previously closed at $376.26.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen’s monthly weight-loss drug remains a potentially significant long-term catalyst, with six Phase 3 trials underway. Success could give the company an opportunity to compete with Eli Lilly and Novo Nordisk in the fast-growing obesity-treatment market. Watch Out, Eli Lilly and Novo Nordisk: Amgen’s Monthly Weight Loss Drug Has 6 Phase 3 Trials Running
• Neutral Sentiment: Amgen will report second-quarter 2026 results after the market close on August 4, followed by a conference call with management. The event is the next major catalyst for the stock, particularly for updates on earnings, guidance and the obesity-drug program. Amgen Announces Webcast of 2026 Second Quarter Financial Results
• Negative Sentiment: Analysts cited a weaker setup for Amgen’s second-quarter report, with earnings expected to decline and the company lacking the indicators typically associated with a likely earnings beat. This may be pressuring the shares ahead of the results. Earnings Preview: Amgen Q2 Earnings Expected to Decline
• Negative Sentiment: Barclays raised its Amgen price target to $360 from $350 but maintained an “equal weight” rating. Because the target remains below the stock’s recent trading level, the call signals limited near-term upside and valuation caution. Barclays Raises Amgen Price Target
• Negative Sentiment: Despite the obesity opportunity, analysis also questions whether Amgen’s candidate will be competitive enough to capture meaningful market share. That uncertainty increases the risk surrounding the company’s long-term growth strategy. Amgen Weight-Loss Drug Competition Analysis

Analyst Ratings Changes

Several equities research analysts recently commented on AMGN shares. UBS Group boosted their price objective on shares of Amgen from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Daiwa Securities Group reduced their price target on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Royal Bank Of Canada reissued a “positive” rating on shares of Amgen in a research note on Thursday, June 18th. BMO Capital Markets restated an “outperform” rating and set a $400.00 price objective on shares of Amgen in a research report on Wednesday, July 1st. Finally, Mizuho increased their target price on Amgen from $295.00 to $303.00 and gave the company a “neutral” rating in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $357.00.

Amgen Price Performance

The company’s 50 day simple moving average is $354.68 and its 200 day simple moving average is $353.11. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The stock has a market capitalization of $209.21 billion, a PE ratio of 26.98, a PEG ratio of 3.98 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $4.77 by $0.38. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.90 EPS. On average, equities analysts anticipate that Amgen Inc. will post 22.31 earnings per share for the current year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the sale, the senior vice president directly owned 7,009 shares of the company’s stock, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Amgen

Several hedge funds have recently modified their holdings of AMGN. Norges Bank purchased a new stake in shares of Amgen during the 4th quarter valued at $2,164,162,000. Capital World Investors raised its position in shares of Amgen by 22.9% in the 4th 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 during the period. State Street Corp boosted its holdings in Amgen by 4.4% in 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 acquiring an additional 1,287,310 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Amgen by 7.8% in the fourth 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 during the last quarter. Finally, Amundi grew its position in Amgen by 41.1% during the fourth quarter. Amundi now owns 3,396,945 shares of the medical research company’s stock valued at $1,111,854,000 after acquiring an additional 988,856 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

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.