Scotiabank Forecasts Strong Price Appreciation for Amgen (NASDAQ:AMGN) Stock

Amgen (NASDAQ:AMGN) had its target price raised by Scotiabank from $385.00 to $450.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the medical research company’s stock. Scotiabank’s price target suggests a potential upside of 10.80% from the company’s previous close.

AMGN has been the subject of several other research reports. Argus lowered their price objective on shares of Amgen from $400.00 to $375.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a research note on Tuesday, May 5th. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Guggenheim lifted their price target on Amgen from $340.00 to $343.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Finally, Piper Sandler restated an “overweight” rating on shares of Amgen in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $363.70.

Amgen Stock Up 4.1%

Shares of NASDAQ:AMGN traded up $16.12 during trading on Wednesday, hitting $406.14. 2,252,857 shares of the company’s stock traded hands, compared to its average volume of 2,733,274. 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 company has a 50-day moving average price of $358.49 and a 200-day moving average price of $354.79. Amgen has a 52 week low of $269.77 and a 52 week high of $416.24. The company has a market cap of $219.20 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 3.83 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. The business had revenue of $10.05 billion during the quarter, compared to analysts’ expectations of $9.43 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.Amgen’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, research analysts forecast that Amgen will post 22.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Amgen

A number of large investors have recently modified their holdings of the business. Dogwood Wealth Management LLC grew its stake in Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 55 shares in the last quarter. Anfield Capital Management LLC increased its position in shares of Amgen by 1,000.0% during the 4th 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 last quarter. Tower View Wealth Management LLC raised its stake in shares of Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Manning & Napier Advisors LLC raised its stake in shares of Amgen by 49.2% during 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 in the last quarter. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Amgen in the 4th quarter valued at approximately $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Quarterly earnings beat expectations: Amgen reported adjusted earnings of $6.29 per share, above the approximately $5.62 consensus estimate, while revenue rose 9.5% year over year to $10.05 billion versus expectations of $9.43 billion. Reuters earnings report
• Positive Sentiment: Higher 2026 guidance: Amgen now expects revenue of $38.2 billion to $39.4 billion, above the prior consensus of roughly $37.8 billion, and adjusted EPS of $22.30 to $23.50. The raised outlook signals confidence in continued product growth. Zacks earnings call analysis
• Positive Sentiment: Broad portfolio momentum: Twenty-two products posted double-digit sales growth. Repatha revenue increased 37% to $953 million and EVENITY sales rose 38% to $714 million, helping offset declines in mature products such as Prolia and XGEVA. Quiver Quantitative revenue report
• Positive Sentiment: Analyst target increases: BMO Capital Markets and Oppenheimer raised their price targets to $450 and maintained bullish ratings. Morgan Stanley, Wells Fargo, Canaccord and several other firms also lifted targets following the results, although most retained neutral or negative ratings.
• Neutral Sentiment: Pipeline investment remains important: Management plans to use the stronger financial performance to advance multiple late-stage programs, including obesity candidate MariTide. However, early development of another potential obesity treatment was halted, leaving investors focused on execution and future clinical data. Wall Street Journal outlook report
• Negative Sentiment: Ongoing risk factors: Reports of a patient-data breach and regulatory scrutiny related to Tavneos could create legal, reputational and operational costs. Recent insider activity also shows four sales and no purchases over the past six months, while several analysts’ targets remain below the current trading level.

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.