Amgen (NASDAQ:AMGN) Stock Price Target Raised at Truist Financial

Amgen (NASDAQ:AMGN) had its target price raised by Truist Financial from $380.00 to $398.00 in a research note released on Wednesday, Marketbeat reports. The brokerage currently has a hold rating on the medical research company’s stock.

AMGN has been the topic of a number of other reports. Morgan Stanley dropped their target price on shares of Amgen from $362.00 to $359.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 7th. Argus boosted their price target on shares of Amgen from $375.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. HSBC downgraded shares of Amgen from a “buy” rating to a “hold” rating and decreased their price objective for the company from $445.00 to $425.00 in a research note on Thursday, September 10th. Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a report on Sunday, October 18th. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $413.38.

Amgen Stock Performance

Shares of Amgen stock opened at $478.48 on Wednesday. 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 52 week low of $302.13 and a 52 week high of $482.48. The firm’s 50 day moving average is $421.56 and its two-hundred day moving average is $376.90. The firm has a market capitalization of $258.68 billion, a P/E ratio of 27.75, a P/E/G ratio of 3.38 and a beta of 0.43.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share for the quarter, topping the consensus estimate of $5.79 by $0.66. The business had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.07 billion. Amgen had a net margin of 24.14% and a return on equity of 128.15%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.64 EPS. Research analysts forecast that Amgen will post 22.96 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be given a dividend of $2.52 per share. The ex-dividend date is Friday, November 20th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.1%. Amgen’s dividend payout ratio (DPR) is 62.65%.

Insider Activity

In other news, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the transaction, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,642,098.28. The trade was a 23.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.85% of the company’s stock.

Institutional Trading of Amgen

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rational Advisors Inc. increased its position in 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 raised 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 acquiring an additional 25 shares during the last quarter. James T. Borello RIA raised its stake in Amgen by 13.6% during the 3rd quarter. James T. Borello RIA now owns 209 shares of the medical research company’s stock valued at $88,000 after acquiring an additional 25 shares during the last quarter. Sweeney & Michel LLC raised its stake in Amgen by 0.5% during the 3rd quarter. Sweeney & Michel LLC now owns 5,129 shares of the medical research company’s stock valued at $2,162,000 after acquiring an additional 25 shares during the last quarter. Finally, Legacy Financial Advisors Inc. lifted its position in Amgen by 0.8% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company’s stock worth $1,234,000 after acquiring an additional 26 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported adjusted earnings of $6.45 per share and revenue of $10.37 billion, topping analyst estimates; revenue increased 8.5% year over year. The company also raised its 2026 outlook to $38.9 billion–$39.7 billion in revenue and $18.34–$19.28 in GAAP EPS. Amgen third-quarter financial results
• Positive Sentiment: Growth in medicines including Repatha and IMDELLTRA helped offset pressure elsewhere. Amgen also highlighted pipeline progress, including IMDELLTRA and potential longer-term growth from its obesity candidate MariTide. Amgen raises 2026 outlook
• Positive Sentiment: Several firms raised their targets, including UBS and Scotiabank to $530 and Goldman Sachs to $536, with buy or outperform ratings. These revisions suggest some analysts see further upside after the results. Analyst views and revised targets
• Neutral Sentiment: Analyst opinion remains divided: some target increases still leave estimates below the prevailing share price, and MariTide data is a future catalyst rather than a near-term result. RBC Capital adjusts Amgen target
• Negative Sentiment: Investors remain concerned about steep declines in Prolia and Xgeva as biosimilar competition weighs on sales. That erosion may limit how much growth from newer products translates into future results. Sales and biosimilar concerns

Amgen Company Profile

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.