Amgen (NASDAQ:AMGN) Price Target Raised to $317.00

Amgen (NASDAQ:AMGN) had its price target increased by Bank of America from $312.00 to $317.00 in a research report report published on Wednesday morning, MarketBeat reports. Bank of America currently has an underperform rating on the medical research company’s stock.

A number of other equities research analysts have also recently issued reports on AMGN. Canaccord Genuity Group upped their target price on Amgen from $366.00 to $384.00 and gave the stock a “hold” rating in a research report on Wednesday. Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. Truist Financial upped their price target on shares of Amgen from $327.00 to $340.00 and gave the company a “hold” rating in a report on Tuesday, July 7th. Cantor Fitzgerald restated a “neutral” rating and set a $350.00 target price on shares of Amgen in a report on Monday, July 6th. Finally, BMO Capital Markets upped their target price on Amgen from $400.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus target price of $370.07.

Amgen Trading Up 1.5%

Shares of NASDAQ:AMGN opened at $410.95 on Wednesday. The company has a market cap of $221.79 billion, a PE ratio of 25.54, a P/E/G ratio of 3.77 and a beta of 0.41. The company’s 50-day moving average price is $362.77 and its 200 day moving average price is $356.24. Amgen has a fifty-two week low of $269.77 and a fifty-two week high of $418.40. The company has a quick ratio of 1.01, a current ratio of 1.37 and a debt-to-equity ratio of 4.44.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same period in the prior year, the business posted $6.02 EPS. The business’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. Sell-side analysts anticipate that Amgen will post 22.73 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 21st. Amgen’s dividend payout ratio (DPR) is presently 62.65%.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares of the company’s stock, valued at $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is currently owned by insiders.

Institutional Trading of Amgen

A number of institutional investors have recently modified their holdings of AMGN. Alpine Woods Capital Investors LLC boosted its holdings in shares of Amgen by 8.5% in the second quarter. Alpine Woods Capital Investors LLC now owns 25,029 shares of the medical research company’s stock worth $9,064,000 after acquiring an additional 1,965 shares during the period. Aegis Wealth Management LLC bought a new stake in shares of Amgen during the 2nd quarter valued at $783,000. Argyle Capital Partners LLC increased its position in shares of Amgen by 5.5% during the second quarter. Argyle Capital Partners LLC now owns 4,851 shares of the medical research company’s stock valued at $1,756,000 after buying an additional 254 shares during the period. Quent Capital LLC increased its position in shares of Amgen by 2.1% during the second quarter. Quent Capital LLC now owns 6,535 shares of the medical research company’s stock valued at $2,366,000 after buying an additional 132 shares during the period. Finally, Focused Alpha LLC lifted its holdings in shares of Amgen by 9.3% in the second quarter. Focused Alpha LLC now owns 3,561 shares of the medical research company’s stock worth $1,289,000 after buying an additional 302 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Quarterly results exceeded expectations: Amgen reported second-quarter revenue of approximately $10.05 billion, up 9.5% year over year, while adjusted earnings of $6.29 per share surpassed the $5.62 consensus estimate. Amgen Q2 2026 earnings beat, raises full-year outlook, drops AMG 513
• Positive Sentiment: Guidance was raised: Management now expects fiscal-year earnings of $22.30 to $23.50 per share, supported by growth in cardiovascular, bone-health and rare-disease medicines. The performance offset pressure in the bone-health business and the decision to discontinue obesity candidate AMG 513. Amgen Stock Climbs as Drug Growth Outruns Obesity Setback
• Positive Sentiment: Analyst targets point to additional upside: BMO Capital Markets raised its target to $450, while UBS and TD Cowen set targets of $440 and $452, respectively. Morgan Stanley, RBC, Oppenheimer and Scotiabank also indicated that Amgen’s stock could rise. BMO Capital Markets Boosts Amgen Price Target to $450
• Neutral Sentiment: Analyst sentiment remains mixed: Wells Fargo raised its target to $400 and Canaccord Genuity to $384, both below the stock’s recent trading level, while Citi maintained a Hold rating and UBS maintained a Buy rating. This suggests strong results have improved sentiment, but valuation and pipeline execution remain concerns. Citi Keeps Their Hold Rating on Amgen
• Negative Sentiment: Pipeline disappointment limits the upside case: Amgen dropped AMG 513, its obesity-drug candidate, removing a potential growth driver and leaving investors focused on the company’s existing medicines and remaining pipeline. Amgen drops AMG 513

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.