Wall Street Zen Upgrades Amgen (NASDAQ:AMGN) to Buy

Amgen (NASDAQ:AMGN) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Several other brokerages have also recently weighed in on AMGN. Piper Sandler reiterated an “overweight” rating on shares of Amgen in a report on Friday. Guggenheim lowered their target price on Amgen from $351.00 to $340.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Canaccord Genuity Group initiated coverage on Amgen in a report on Monday, April 20th. They issued a “hold” rating and a $366.00 target price for the company. Rothschild & Co Redburn upped their target price on Amgen from $180.00 to $200.00 and gave the stock a “sell” rating in a report on Wednesday, February 18th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $354.12.

Amgen Stock Performance

Shares of Amgen stock opened at $355.20 on Friday. The stock’s fifty day moving average is $340.97 and its two-hundred day moving average is $345.72. The company has a market capitalization of $191.70 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 3.56 and a beta of 0.42. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. Amgen has a 52 week low of $267.83 and a 52 week high of $391.29.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the prior year, the company posted $4.90 EPS. Amgen’s quarterly revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, analysts expect that Amgen will post 22.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the sale, the senior vice president owned 7,009 shares of the company’s stock, valued at $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The sale 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 Investors Weigh In On Amgen

Institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Amgen by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock valued at $331,000 after buying an additional 114 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in Amgen by 29.3% in the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company’s stock valued at $7,220,000 after buying an additional 5,853 shares during the last quarter. Main Street Financial Solutions LLC raised its stake in Amgen by 11.3% in the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company’s stock valued at $1,141,000 after buying an additional 416 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in Amgen by 5.1% in the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company’s stock valued at $15,120,000 after buying an additional 2,611 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen said its phase 3 ABP 938 eye-disease study is advancing, with the drug aimed at challenging Regeneron’s Eylea HD in a major retina market. That keeps Amgen’s pipeline in focus as a potential future growth driver. Article Title
• Positive Sentiment: Amgen also highlighted its MARITIME-SWITCH phase 3 obesity trial, which is designed to capture GLP-1 switchers. Any success in obesity treatment could open another large market and improve long-term revenue expectations. Article Title
• Positive Sentiment: Some coverage pointed to Amgen as a value stock with supportive new data from the VESALIUS-CV cardiovascular study for Repatha, reinforcing confidence in the company’s broader portfolio. Article Title
• Neutral Sentiment: Amgen and outside analysts published bullish commentary on the stock’s valuation and earnings profile, but these were mostly opinion pieces rather than new business developments. Article Title
• Negative Sentiment: Investor sentiment is being pressured by reports that Amgen’s Tavneos faces a proposed FDA withdrawal, with the company seeking a hearing and commissioning an independent review to defend the drug’s data. Regulatory uncertainty around a $500 million product is a meaningful risk for the stock. Article Title
• Negative Sentiment: Reuters also reported that Amgen hired a research firm to reassess Tavneos data after FDA concerns, underscoring the regulatory overhang and near-term uncertainty for the drug. Article Title

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.