Amgen (NASDAQ:AMGN) Price Target Raised to $450.00

Amgen (NASDAQ:AMGN) had its price objective upped by Scotiabank from $385.00 to $450.00 in a report released on Wednesday, Marketbeat reports. Scotiabank currently has a sector outperform rating on the medical research company’s stock.

AMGN has been the topic of a number of other research reports. Daiwa Securities Group decreased their target price on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Argus cut their price objective on Amgen from $400.00 to $375.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Bank of America boosted their price objective on Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a research report on Wednesday. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Truist Financial increased their target price on Amgen from $340.00 to $362.00 and gave the company a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $370.07.

Amgen Trading Up 1.5%

AMGN opened at $410.95 on Wednesday. The company has a market cap of $221.79 billion, a P/E ratio of 25.54, a PEG ratio of 3.77 and a beta of 0.41. The company has a current ratio of 1.37, a quick ratio of 1.01 and a debt-to-equity ratio of 4.44. The company’s 50 day moving average is $362.77 and its 200-day moving average is $356.24. Amgen has a 1-year low of $269.77 and a 1-year high of $418.40.

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, topping analysts’ consensus estimates of $5.62 by $0.67. The business had revenue of $10.05 billion during the quarter, compared to analysts’ expectations of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities research analysts predict that Amgen will post 22.73 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.5%. Amgen’s payout ratio is currently 62.65%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Amgen

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Amgen in the 4th quarter valued at about $2,164,162,000. Capital World Investors grew its stake in Amgen by 22.9% during the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock worth $7,560,249,000 after purchasing an additional 4,302,237 shares during the period. BlackRock Inc. increased its holdings in Amgen by 4.8% in the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock worth $17,874,974,000 after purchasing an additional 2,261,544 shares in the last quarter. State Street Corp increased its holdings in Amgen by 4.4% in the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock worth $10,012,872,000 after purchasing an additional 1,287,310 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Amgen by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after buying an additional 1,035,779 shares during the period. Institutional investors own 76.50% of the company’s stock.

Key Stories 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.