Guggenheim Raises Amgen (NASDAQ:AMGN) Price Target to $347.00

Amgen (NASDAQ:AMGN) had its price target lifted by stock analysts at Guggenheim from $305.00 to $347.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the medical research company’s stock. Guggenheim’s price objective would suggest a potential downside of 9.68% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets raised their target price on shares of Amgen from $335.00 to $372.00 and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. Wells Fargo & Company raised their price target on shares of Amgen from $300.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. Erste Group Bank upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Morgan Stanley raised their target price on Amgen from $304.00 to $309.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Scotiabank began coverage on Amgen in a report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average price target of $351.65.

Amgen Stock Up 4.5%

Shares of NASDAQ:AMGN opened at $384.20 on Friday. The stock has a market capitalization of $206.88 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 3.90 and a beta of 0.46. The stock’s 50-day moving average price is $334.45 and its 200-day moving average price is $311.49. The company has a current ratio of 1.14, a quick ratio of 0.99 and a debt-to-equity ratio of 5.78. Amgen has a 12-month low of $261.43 and a 12-month high of $385.12.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.53. Amgen had a return on equity of 148.37% and a net margin of 20.98%.The company had revenue of $9.87 billion during the quarter, compared to analysts’ expectations of $9.46 billion. During the same period in the prior year, the business posted $5.31 EPS. Amgen’s quarterly revenue was up 8.6% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. On average, equities analysts anticipate that Amgen will post 20.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the sale, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 10,908 shares of company stock worth $3,674,966. Company insiders own 0.76% of the company’s stock.

Institutional Trading of Amgen

A number of hedge funds and other institutional investors have recently modified their holdings of the business. High Note Wealth LLC lifted its position in shares of Amgen by 5.8% during the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock worth $166,000 after buying an additional 28 shares during the period. West Family Investments Inc. raised its stake in Amgen by 1.1% during the third quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company’s stock worth $779,000 after acquiring an additional 30 shares in the last quarter. Viawealth LLC lifted its holdings in shares of Amgen by 0.4% during the third quarter. Viawealth LLC now owns 7,168 shares of the medical research company’s stock valued at $2,023,000 after acquiring an additional 30 shares during the period. LOM Asset Management Ltd lifted its holdings in shares of Amgen by 1.2% during the third quarter. LOM Asset Management Ltd now owns 2,554 shares of the medical research company’s stock valued at $721,000 after acquiring an additional 30 shares during the period. Finally, Sittner & Nelson LLC boosted its stake in shares of Amgen by 0.4% in the 3rd quarter. Sittner & Nelson LLC now owns 7,276 shares of the medical research company’s stock valued at $2,053,000 after purchasing an additional 30 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Argus raised its price target to $400 and reiterated a Buy rating, signaling analyst confidence in Amgen’s outlook and providing fresh positive momentum for the stock. Read More.
• Positive Sentiment: Q4 results beat Street estimates and management’s commentary pushed the shares to a new 12‑month high — the earnings beat and upgraded FY‑2026 guidance underpin the rally. Read More.
• Positive Sentiment: Clinical progress: Amgen advanced xaluritamig into a first‑in‑human Phase 1b trial for hard‑to‑treat Ewing sarcoma — a development that adds long‑term pipeline upside if the program shows activity. Read More.
• Positive Sentiment: Post‑marketing safety study for IMLYGIC in melanoma reached completion — reduces an uncertainty from the label/safety perspective and may support that asset’s commercial outlook. Read More.
• Neutral Sentiment: Guggenheim raised its price target to $347 but kept a Neutral rating; the new PT still implies downside versus the current price, creating mixed signals for investors. Read More.
• Neutral Sentiment: Deutsche Bank moved its target to $295 and maintained a Hold — another measured call that tempers the enthusiasm from Buy-rated upgrades. Read More.
• Neutral Sentiment: Market commentary notes rotation into defensive/health names and institutional buying as contributors to the stock’s move to multi‑month highs — a broader-market technical tailwind rather than company‑specific news. Read More.
• Negative Sentiment: CVS said it will replace Amgen’s and Lilly’s bone‑disease treatments with lower‑cost alternatives on some preferred drug lists starting April 1 — a material commercial headwind for the affected product sales. Read More.

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.