TD Cowen Issues Positive Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price objective upped by equities researchers at TD Cowen from $420.00 to $452.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. TD Cowen’s price objective points to a potential upside of 11.30% from the stock’s previous close.

AMGN has been the subject of a number of other reports. Truist Financial raised their price target on shares of Amgen from $340.00 to $362.00 and gave the company a “hold” rating in a report on Wednesday. Weiss Ratings downgraded shares of Amgen from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 15th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $350.00 target price on shares of Amgen in a research note on Monday, July 6th. Guggenheim raised their target price on Amgen from $340.00 to $343.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $366.86.

Amgen Trading Up 4.1%

Shares of NASDAQ AMGN traded up $16.11 during midday trading on Wednesday, hitting $406.12. The stock had a trading volume of 3,806,323 shares, compared to its average volume of 2,743,922. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. Amgen has a 1-year low of $269.77 and a 1-year high of $416.24. The company has a fifty day moving average price of $358.49 and a 200 day moving average price of $354.79. The company has a market capitalization of $219.19 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 3.83 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last released 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. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same quarter in the prior year, the business earned $6.02 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, analysts predict that Amgen will post 22.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Dogwood Wealth Management LLC boosted its holdings in Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after purchasing an additional 55 shares in the last quarter. Anfield Capital Management LLC raised its stake in shares of Amgen by 1,000.0% in the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after buying an additional 70 shares in the last quarter. Tower View Wealth Management LLC lifted its position 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 buying an additional 63 shares during the period. Manning & Napier Advisors LLC boosted its position in Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after buying an additional 32 shares in the last quarter. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Amgen in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q2 results exceeded expectations: Adjusted EPS was $6.29 versus the approximately $5.60–$5.62 consensus, while revenue rose 9.5% year over year to $10.05 billion, above estimates near $9.43 billion. Amgen second-quarter sales rise 9%, profit tops Street view
• Positive Sentiment: Guidance was raised: Amgen now expects 2026 revenue of $38.2 billion to $39.4 billion, compared with a prior outlook near $37.2 billion to $38.4 billion. The midpoint is above Wall Street expectations, reinforcing confidence in the company’s commercial momentum. Amgen Hikes Sales Outlook By $1 Billion After Second-Quarter Smash
• Positive Sentiment: Newer products drove growth: Repatha and EVENITY sales increased 37% and 38%, respectively, and 22 products posted double-digit sales growth. Management also highlighted cash generation and continued investment in its late-stage pipeline, including obesity candidate MariTide.
• Positive Sentiment: Several analysts raised targets: BMO Capital Markets, Scotiabank and Oppenheimer lifted their targets to $450 and maintained bullish ratings. William Blair also reiterated a Buy rating, citing the earnings beat, raised outlook and pipeline catalysts.
• Neutral Sentiment: Analyst views remain mixed: Morgan Stanley, Wells Fargo, Canaccord and Truist raised targets but retained Hold or Equal Weight ratings. Some targets remain below the current trading level, suggesting valuation has become a key debate after the rally.
• Negative Sentiment: Legacy-product pressure persists: Prolia and XGEVA sales declined 32% and 34%, respectively, because of biosimilar competition. Amgen also halted early development of a Phase 1 obesity treatment, although its separate MariTide program remains active.
• Negative Sentiment: Additional risk factors remain: Reports of a patient-data breach and a review of clinical data supporting Tavneos could create legal, regulatory and reputational exposure.

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.