Amgen (NASDAQ:AMGN) Price Target Raised to $410.00

Amgen (NASDAQ:AMGN) had its price objective lifted by equities research analysts at Morgan Stanley from $359.00 to $410.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the medical research company’s stock. Morgan Stanley‘s price objective would indicate a potential downside of 14.22% from the stock’s previous close.

AMGN has been the subject of several other reports. Jefferies Financial Group reissued a “hold” rating and issued a $410.00 price target on shares of Amgen in a research report on Wednesday, September 23rd. Oppenheimer reiterated an “outperform” rating on shares of Amgen in a research note on Friday, October 23rd. Canaccord Genuity Group set a $440.00 target price on shares of Amgen in a report on Wednesday. Wells Fargo & Company increased their price target on shares of Amgen from $430.00 to $460.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $400.00 price target on shares of Amgen in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $399.54.

Amgen Stock Up 3.6%

AMGN stock traded up $16.70 during trading on Wednesday, hitting $477.96. 1,873,333 shares of the company’s stock traded hands, compared to its average volume of 2,744,614. The firm has a market capitalization of $258.40 billion, a P/E ratio of 29.73, a PEG ratio of 3.41 and a beta of 0.43. The business has a fifty day simple moving average of $420.83 and a two-hundred day simple moving average of $376.16. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. Amgen has a 1 year low of $302.13 and a 1 year high of $482.00.

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

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the sale, the senior vice president owned 6,404 shares of the company’s stock, valued at approximately $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the sale, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. The trade was a 28.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,222 shares of company stock worth $2,540,926 over the last ninety days. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amgen

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rational Advisors Inc. increased its position in shares of Amgen by 13.7% in the 2nd quarter. Rational Advisors Inc. now owns 199 shares of the medical research company’s stock valued at $72,000 after acquiring an additional 24 shares during the period. Beacon Financial Advisory LLC grew its stake in Amgen by 2.0% during the 2nd quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company’s stock valued at $461,000 after purchasing an additional 25 shares during the last quarter. James T. Borello RIA increased its holdings in shares of Amgen by 13.6% in the third quarter. James T. Borello RIA now owns 209 shares of the medical research company’s stock valued at $88,000 after purchasing an additional 25 shares during the period. Sweeney & Michel LLC lifted its holdings in shares of Amgen by 0.5% during the third quarter. Sweeney & Michel LLC now owns 5,129 shares of the medical research company’s stock worth $2,162,000 after purchasing an additional 25 shares during the period. Finally, Legacy Financial Advisors Inc. boosted its position in Amgen by 0.8% in the second quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company’s stock valued at $1,234,000 after buying an additional 26 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Results and outlook topped expectations: Third-quarter revenue rose 8.5% year over year to $10.37 billion, while adjusted EPS of $6.45 beat estimates. Amgen raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and GAAP EPS outlook to $18.34–$19.28. Article: AMGN Q3 Earnings Call Highlights Pipeline and Raised Outlook
• Positive Sentiment: Growth drugs and pipeline offer upside: Repatha and IMDELLTRA helped offset pressure elsewhere, and clinical progress for IMDELLTRA and other candidates supports longer-term growth potential. Investors are also watching for MariTide data. Article: Amgen lifts 2026 outlook as Repatha and Imdelltra offset biosimilar hit to Prolia
• Neutral Sentiment: Analyst views remain mixed: Some firms raised price targets, but several targets remain below the recent share price, and Bank of America maintained a Sell rating. That points to valuation concerns despite the improved outlook. Article: Amgen Sell Rating Maintained Despite Price-Target Increase
• Negative Sentiment: Legacy-drug declines are a headwind: Steep declines in Prolia and Xgeva, amid biosimilar competition, are weighing on sentiment and help explain why the earnings beat did not produce an uniformly positive reaction. Article: AMGN Stock Down Despite Q3 Earnings & Sales Beat, Raised Guidance

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.