Morgan Stanley Raises Amgen (NASDAQ:AMGN) Price Target to $351.00

Amgen (NASDAQ:AMGN) had its price target raised by Morgan Stanley from $333.00 to $351.00 in a research report issued on Wednesday. The brokerage presently has an “equal weight” rating on the medical research company’s stock. Morgan Stanley’s price target would indicate a potential downside of 10.14% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Weiss Ratings downgraded shares of Amgen from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 15th. BMO Capital Markets upped their price target on shares of Amgen from $400.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group set a $389.00 price objective on Amgen in a research note on Friday, June 5th. Freedom Capital upgraded Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Canaccord Genuity Group boosted their target price on Amgen from $366.00 to $384.00 and gave the company a “hold” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and a consensus target price of $361.30.

Amgen Stock Performance

NASDAQ:AMGN opened at $390.63 on Wednesday. Amgen has a 1 year low of $269.77 and a 1 year high of $398.00. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The business has a fifty day simple moving average of $358.49 and a two-hundred day simple moving average of $354.79. The company has a market capitalization of $210.83 billion, a P/E ratio of 27.18, a P/E/G ratio of 3.83 and a beta of 0.41.

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

Hedge Funds Weigh In On Amgen

Several large investors have recently modified their holdings of AMGN. Robeco Institutional Asset Management B.V. raised its holdings in Amgen by 10.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company’s stock worth $157,584,000 after purchasing an additional 43,884 shares during the period. Curtis Advisory Group LLC bought a new position in shares of Amgen during the 4th quarter valued at approximately $1,669,000. Adell Harriman & Carpenter Inc. increased its holdings in Amgen by 7.9% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company’s stock worth $7,204,000 after acquiring an additional 1,609 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Amgen during the 4th quarter worth approximately $22,441,000. Finally, Sigma Planning Corp lifted its holdings in Amgen by 24.0% during the fourth quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company’s stock valued at $5,889,000 after purchasing an additional 3,488 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

More Amgen News

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.