Amgen (NASDAQ:AMGN) Stock Gets Price Target Increase from The Goldman Sachs Group

Amgen (NASDAQ:AMGN) had its target price lifted by equities researchers at The Goldman Sachs Group from $481.00 to $536.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. The Goldman Sachs Group‘s price target suggests a potential upside of 11.82% from the stock’s previous close.

AMGN has been the subject of a number of other reports. Royal Bank Of Canada upped their price objective on shares of Amgen from $430.00 to $470.00 and gave the company an “outperform” rating in a research note on Wednesday. Guggenheim dropped their target price on shares of Amgen from $388.00 to $378.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Morgan Stanley boosted their price target on shares of Amgen from $359.00 to $410.00 and gave the company an “equal weight” rating in a report on Wednesday. Wells Fargo & Company boosted their price target on shares of Amgen from $430.00 to $460.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Robert W. Baird raised their price objective on shares of Amgen from $215.00 to $230.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $404.79.

Amgen Price Performance

Shares of NASDAQ AMGN traded up $18.07 during mid-day trading on Wednesday, reaching $479.33. The company had a trading volume of 1,975,897 shares, compared to its average volume of 2,745,827. The company has a 50-day moving average price of $420.83 and a two-hundred day moving average price of $376.16. The stock has a market cap of $259.14 billion, a PE ratio of 29.79, a P/E/G ratio of 3.41 and a beta of 0.43. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. Amgen has a 1-year low of $302.13 and a 1-year high of $482.00.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, November 3rd. The medical research company reported $6.45 EPS for the quarter, beating the consensus estimate of $5.79 by $0.66. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The business had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same period in the prior year, the business posted $5.64 earnings per share. Amgen’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts anticipate that Amgen will post 22.96 earnings per share for the current year.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value 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 trade represents a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 in the last quarter. 0.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp grew its holdings in Amgen by 38.2% in the 2nd quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock valued at $15,283,363,000 after buying an additional 11,656,755 shares during the last quarter. MW Advisory LLC bought a new position in Amgen in the 2nd quarter worth approximately $1,054,000. Baird Financial Group Inc. boosted its position in shares of Amgen by 1.6% in the second quarter. Baird Financial Group Inc. now owns 339,825 shares of the medical research company’s stock valued at $123,057,000 after acquiring an additional 5,496 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Amgen by 105.8% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 13,514 shares of the medical research company’s stock worth $5,696,000 after acquiring an additional 6,947 shares during the last quarter. Finally, Nilsine Partners LLC bought a new position in Amgen during the second quarter worth $3,329,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Results and outlook topped expectations: Third-quarter revenue rose 8.5% year over year to $10.37 billion, while adjusted EPS of $6.45 beat estimates. Amgen raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and GAAP EPS outlook to $18.34–$19.28. Article: AMGN Q3 Earnings Call Highlights Pipeline and Raised Outlook
• Positive Sentiment: Growth drugs and pipeline offer upside: Repatha and IMDELLTRA helped offset pressure elsewhere, and clinical progress for IMDELLTRA and other candidates supports longer-term growth potential. Investors are also watching for MariTide data. Article: Amgen lifts 2026 outlook as Repatha and Imdelltra offset biosimilar hit to Prolia
• Neutral Sentiment: Analyst views remain mixed: Some firms raised price targets, but several targets remain below the recent share price, and Bank of America maintained a Sell rating. That points to valuation concerns despite the improved outlook. Article: Amgen Sell Rating Maintained Despite Price-Target Increase
• Negative Sentiment: Legacy-drug declines are a headwind: Steep declines in Prolia and Xgeva, amid biosimilar competition, are weighing on sentiment and help explain why the earnings beat did not produce an uniformly positive reaction. Article: AMGN Stock Down Despite Q3 Earnings & Sales Beat, Raised Guidance

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.