Amgen Inc.

🇺🇸NASDAQ Global Select
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Amgen Inc. stock analysis AMGN overview
Slightly Bullish +25

What Are Wall Street Analysts' Target Price for Amgen Stock?

🧬 Amgen Inc. (AMGN) develops and delivers human therapeutics with a market capitalization of $182.4 billion.

📉 Shares underperformed the S&P 500 last year, gaining 17.1% versus the index's 28.3% rise.

📊 In 2026, AMGN is projected to be up 3.3%, while the SPX is expected to rise 4.2%.

💰 On Feb. 3, Q4 results showed adjusted EPS of $5.29 and revenue of $9.9 billion, both beating forecasts.

🔮 Management expects full-year adjusted EPS between $21.60 and $23 with revenue of $37-38.4 billion.

📈 Analysts project fiscal 2026 diluted EPS to grow 1.5% year-over-year to $22.16.

👍 AMGN beat earnings estimates in each of the last four quarters, maintaining a strong earnings surprise history.

💼 Of 36 analysts covering the stock, the consensus rating is "Moderate Buy" with mixed ratings across Strong Buy and Hold categories.

⚠️ Analyst sentiment has cooled slightly compared to three months ago when more analysts gave "Strong Buy" ratings.

🔍 Canaccord Genuity initiated coverage on Apr. 21 with a "Hold" rating and a $366 price target.

💹 The mean analyst price target is $357.84, representing a 5.9% premium to current stock levels.

🚀 The Street-high price target of $432 suggests a potential upside of 27.8% from current pricing.

Bullish Signals
  • Amgen's adjusted EPS of $5.29 exceeded Wall Street expectations of $4.76, with shares closing up more than 8% on the following trading session.
  • The company reported revenue of $9.9 billion, which beat Wall Street forecasts of $9.5 billion.
  • AMGN expects full-year adjusted EPS in the range of $21.60 to $23, and revenue in the range of $37 billion to $38.4 billion.
  • The company has beaten the consensus estimate in each of the last four quarters, demonstrating a strong earnings surprise history.
  • Among the 36 analysts covering AMGN stock, the consensus is a 'Moderate Buy' based on 13 'Strong Buy' ratings.
  • The Street-high price target of $432 suggests an upside potential of 27.8% from current levels.
Risk Factors
  • Shares of Amgen have underperformed the broader market over the past year, gaining only 17.1% compared to the S&P 500 Index's rally of nearly 28.3%. In 2026, AMGN stock is up 3.3%, compared to the SPX's 4.2% rise on a YTD basis.
  • Amgen's performance lags behind its peers, with the Invesco Pharmaceuticals ETF (PJP) gaining about 26.9% over the past year while AMGN has underperformed relative to this broader pharmaceutical sector benchmark.
  • The analyst configuration is less bullish than three months ago, with fewer analysts suggesting a 'Strong Buy' rating compared to previous sentiment.
  • Among the 36 analysts covering AMGN stock, the consensus is a 'Moderate Buy,' but there are six bearish ratings including two 'Strong Sells', one 'Moderate Sell'.
  • Analyst Canaccord Genuity initiated coverage with a 'Hold' rating and set a price target of $366, implying only modest upside potential.
  • The mean price target of $357.84 represents just a 5.9% premium to AMGN's current price levels, suggesting limited near-term valuation appreciation.
Full Analysis
Amgen Inc. (AMGN), the Thousand Oaks, California-based biopharmaceutical company with an $182.4 billion market capitalization, has underperformed the broader market over the last year. While AMGN shares gained 17.1% during this period, the S&P 500 Index ($SPX) rallied nearly 28.3%. The performance gap is also evident against sector peers; the Invesco Pharmaceuticals ETF (PJP) has risen approximately 26.9% over the past year, whereas AMGN's year-to-date returns have surpassed PJP's recent losses, which stood at 1.3%. Despite this lag, AMGN stock has gained 3.3% in 2026 compared to the SPX's 4.2% YTD rise. The company reported positive fourth-quarter results on February 3, with its shares closing up more than 8% following the announcement. Adjusted earnings per share (EPS) of $5.29 surpassed Wall Street expectations of $4.76, and revenue reached $9.9 billion, exceeding forecasts of $9.5 billion. For the full year, AMGN expects adjusted EPS between $21.60 and $23, with total revenue projected in the range of $37 billion to $38.4 billion. Analysts forecast that for fiscal 2026, ending in December, diluted EPS will grow 1.5% to $22.16, marking an impressive earnings surprise history where AMGN beat consensus estimates in each of the last four quarters. Wall Street sentiment remains cautiously optimistic despite a recent shift in analyst ratings. Currently, 36 analysts cover AMGN stock with a consensus rating of "Moderate Buy," comprising 13 "Strong Buy" ratings, two "Moderate Buys," 18 "Holds," one "Moderate Sell," and two "Strong Sells." This distribution is less bullish than three months ago, when 14 analysts suggested a "Strong Buy" rating. On April 21, Canaccord Genuity initiated coverage with a "Hold" rating and set a price target of $366, implying an 8.3% upside from current levels. The mean price target stands at $357.84, representing a 5.9% premium to current prices, while the Street-high price target of $432 suggests a potential upside of 27.8%. This article was originally published on Barchart.com and notes that on the date of publication, Neha Panjwani did not hold any positions in the securities mentioned. All information and data provided are for informational purposes only. The financial news outlet encourages investors to sign up for the FREE Barchart Brief newsletter to stay informed about market reversals and other developments.