Amgen (NASDAQ:AMGN) Price Target Raised to $360.00

Amgen (NASDAQ:AMGN) had its price objective hoisted by Barclays from $350.00 to $360.00 in a research note published on Wednesday, MarketBeat Ratings reports. The firm currently has an equal weight rating on the medical research company’s stock.

AMGN has been the subject of a number of other research reports. The Goldman Sachs Group set a $389.00 price objective on shares of Amgen in a report on Friday, June 5th. Piper Sandler reiterated an “overweight” rating on shares of Amgen in a report on Friday, June 12th. Mizuho lifted their price target on shares of Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 16th. Freedom Capital raised shares of Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Morgan Stanley lowered their price objective on shares of Amgen from $340.00 to $333.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $357.00.

Amgen Price Performance

Shares of AMGN opened at $385.16 on Wednesday. The stock has a market cap of $207.87 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 3.92 and a beta of 0.41. Amgen has a 1 year low of $269.77 and a 1 year high of $398.00. The stock’s 50-day moving average price is $356.60 and its two-hundred day moving average price is $353.77. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $4.77 by $0.38. The company had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.Amgen’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.90 EPS. On average, equities analysts predict that Amgen will post 22.31 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be given a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.6%. Amgen’s payout ratio is 70.15%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the transaction, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. This trade represents a 15.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Dogwood Wealth Management LLC boosted its holdings in shares of Amgen by 275.0% in the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after buying an additional 55 shares during the last quarter. Anfield Capital Management LLC increased its holdings in Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after buying an additional 70 shares during the last quarter. Tower View Wealth Management LLC increased its holdings in Amgen by 331.6% during the first 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 last quarter. Manning & Napier Advisors LLC raised its position in Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after acquiring an additional 32 shares in the last quarter. Finally, Ares Financial Consulting LLC bought a new stake in Amgen during the fourth quarter worth $34,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: The European Medicines Agency’s CHMP issued a positive opinion recommending broader use of Repatha to reduce cardiovascular risk in high-risk adults without a prior heart attack or stroke. The recommendation, based on Phase 3 data showing fewer major cardiovascular events, could expand Repatha’s addressable market in Europe. Amgen Wins Backing in Europe for Broader Repatha Use
• Positive Sentiment: Amgen declared a quarterly dividend of $2.52 per share, payable September 11 to shareholders of record on August 21. The ongoing payout, equivalent to $10.08 annually and an indicated yield of about 2.6%, supports the stock’s income appeal and signals continued confidence in cash generation. Amgen Announces 2026 Third Quarter Dividend
• Positive Sentiment: Amgen launched its first Amgen Scholars Program in India at IIIT Hyderabad. Although not a near-term financial driver, the initiative may strengthen the company’s research talent pipeline and scientific relationships. First Amgen Scholars Program in India Launches
• Neutral Sentiment: Wall Street’s attention is centered on second-quarter results. Amgen has a history of earnings beats, but investors will scrutinize product-sales trends, guidance and progress on MariTide, making the report a significant near-term catalyst. Amgen Q2 Earnings Preview
• Negative Sentiment: Barclays raised its price target to $360 but retained a Hold rating. With the target below the recent trading level, the update reinforces concerns that much of Amgen’s positive outlook may already be reflected in the shares. Barclays Boosts Amgen Price Target

About Amgen

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.