Truist Financial Issues Positive Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its price target lifted by stock analysts at Truist Financial from $380.00 to $398.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the medical research company’s stock. Truist Financial‘s price objective would indicate a potential downside of 16.02% from the stock’s current price.

A number of other equities analysts have also recently issued reports on AMGN. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a research report on Sunday, October 18th. Argus raised their target price on Amgen from $375.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Piper Sandler boosted their target price on Amgen from $427.00 to $457.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Jefferies Financial Group reaffirmed a “hold” rating and set a $410.00 price target on shares of Amgen in a research note on Wednesday, September 23rd. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Amgen currently has an average rating of “Hold” and an average price target of $394.32.

Amgen Stock Up 2.8%

Shares of Amgen stock traded up $12.69 during trading on Wednesday, reaching $473.95. 1,125,866 shares of the company traded hands, compared to its average volume of 2,739,970. The firm has a market capitalization of $256.23 billion, a PE ratio of 29.38, a P/E/G ratio of 3.41 and a beta of 0.43. Amgen has a 1-year low of $302.13 and a 1-year high of $482.00. The company has a 50 day moving average price of $420.83 and a 200-day moving average price of $376.16. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, November 3rd. The medical research company reported $6.45 EPS for the quarter, topping analysts’ consensus estimates of $5.79 by $0.66. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $10.07 billion. During the same period last year, the company posted $5.64 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts expect that Amgen will post 22.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the transaction, the senior vice president directly owned 7,340 shares in the company, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rachna Khosla sold 1,252 shares of Amgen stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the transaction, the senior vice president directly owned 6,404 shares in the company, valued at $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 6,222 shares of company stock valued at $2,540,926 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Amgen

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Amgen by 38.2% in the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock valued at $15,283,363,000 after acquiring an additional 11,656,755 shares in the last quarter. MW Advisory LLC purchased a new stake in shares of Amgen during the second quarter valued at approximately $1,054,000. Baird Financial Group Inc. lifted its holdings in Amgen by 1.6% during the second quarter. Baird Financial Group Inc. now owns 339,825 shares of the medical research company’s stock worth $123,057,000 after acquiring an additional 5,496 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Amgen by 105.8% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 13,514 shares of the medical research company’s stock worth $5,696,000 after acquiring an additional 6,947 shares during the period. Finally, KBC Group NV lifted its holdings in Amgen by 51.7% during the second quarter. KBC Group NV now owns 382,676 shares of the medical research company’s stock worth $138,574,000 after acquiring an additional 130,497 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen beat estimates, reporting Q3 revenue of $10.37 billion, up 8.5% year over year, and adjusted EPS of $6.45. It raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and GAAP EPS outlook to $18.34–$19.28. Article: Amgen lifts 2026 outlook
• Positive Sentiment: Growth in medicines including Repatha and Imdelltra helped offset pressure elsewhere. Positive Phase 3 findings for Imdelltra, Tezspire and dazodalibep also support Amgen’s longer-term pipeline prospects. Article: How Investors May Respond To Amgen Earnings Beat
• Neutral Sentiment: Analyst price-target changes were mixed: Bernstein raised its target to $400 and BMO Capital to $442, while Cantor Fitzgerald lifted its target to $465 and kept a neutral rating. Article: BMO Capital adjusts price target
• Negative Sentiment: Investors focused on falling Prolia and Xgeva sales as biosimilar competition intensifies. Those declines tempered the otherwise positive earnings report and help explain why the shares weakened despite the beat and higher guidance. Article: AMGN Stock Down Despite Q3 Earnings & Sales Beat, Raised Guidance
• Negative Sentiment: The FDA issued Amgen a warning letter over allegedly misleading promotion of Vectibix, adding regulatory risk. Article: Amgen Gets FDA Warning Letter Over Vectibix Promotion

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.