Amgen (NASDAQ:AMGN) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Amgen (NASDAQ:AMGN) had its target price increased by stock analysts at Royal Bank Of Canada from $370.00 to $400.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 2.40% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Bank of America upped their target price on shares of Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a research report on Wednesday. Erste Group Bank reiterated a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $350.00 price objective on shares of Amgen in a report on Monday, July 6th. Guggenheim upped their target price on Amgen from $340.00 to $343.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Finally, Weiss Ratings lowered Amgen from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $361.30.

Amgen Trading Up 3.1%

NASDAQ:AMGN opened at $390.63 on Wednesday. Amgen has a 12-month low of $269.77 and a 12-month high of $398.00. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The business has a 50 day simple moving average of $358.49 and a 200 day simple moving average of $354.79. The firm has a market capitalization of $210.83 billion, a P/E ratio of 27.18, a P/E/G ratio of 3.83 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.62 by $0.67. The company 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%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous 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 predict that Amgen will post 22.31 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. North Dakota State Investment Board lifted its position in shares of Amgen by 0.3% in the 2nd quarter. North Dakota State Investment Board now owns 15,994 shares of the medical research company’s stock valued at $5,792,000 after acquiring an additional 50 shares in the last quarter. USA Financial Formulas acquired a new stake in Amgen during the 1st quarter worth about $655,000. Aviso Wealth Management lifted its position in shares of Amgen by 3.1% in the second quarter. Aviso Wealth Management now owns 2,681 shares of the medical research company’s stock worth $971,000 after purchasing an additional 80 shares in the last quarter. Investment Research Partners LLC grew its position in Amgen by 6.1% during the second quarter. Investment Research Partners LLC now owns 3,890 shares of the medical research company’s stock valued at $1,409,000 after purchasing an additional 224 shares in the last quarter. Finally, 71 West Capital Partners lifted its position in Amgen by 58.8% in the 2nd quarter. 71 West Capital Partners now owns 3,626 shares of the medical research company’s stock worth $1,313,000 after buying an additional 1,343 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Key Amgen News

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.