Amgen (NASDAQ:AMGN) Given New $400.00 Price Target at Wells Fargo & Company

Amgen (NASDAQ:AMGN) had its price objective lifted by stock analysts at Wells Fargo & Company from $390.00 to $400.00 in a note issued to investors on Wednesday. The brokerage currently has an “equal weight” rating on the medical research company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 2.40% from the stock’s current price.

A number of other research firms also recently commented on AMGN. Barclays boosted their price target on Amgen from $350.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. UBS Group upped their price target on shares of Amgen from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, July 13th. BMO Capital Markets increased their price target on shares of Amgen from $400.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday. Freedom Capital raised shares of Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada restated a “positive” rating on shares of Amgen in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $361.30.

Amgen Trading Up 3.1%

Shares of AMGN stock opened at $390.63 on Wednesday. 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 stock has a market cap of $210.83 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 3.83 and a beta of 0.41. The stock has a 50 day simple moving average of $358.49 and a 200 day simple moving average of $354.79. Amgen has a 1 year low of $269.77 and a 1 year high of $398.00.

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

Hedge Funds Weigh In On Amgen

Several large investors have recently bought and sold shares of AMGN. High Note Wealth LLC grew its holdings in shares of Amgen by 5.8% during the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock worth $166,000 after purchasing an additional 28 shares during the last quarter. TAGStone Capital Inc. boosted its position in Amgen by 0.7% during the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company’s stock worth $1,351,000 after buying an additional 28 shares during the period. Verus Capital Partners LLC boosted its position in Amgen by 2.3% during the 4th quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company’s stock worth $403,000 after buying an additional 28 shares during the period. Destination Wealth Management grew its holdings in Amgen by 2.1% during the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company’s stock worth $456,000 after acquiring an additional 29 shares during the last quarter. Finally, Breakwater Capital Group increased its position in Amgen by 1.4% in the 1st quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company’s stock valued at $717,000 after acquiring an additional 29 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen News Summary

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.

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.