Amgen Inc.

(NASDAQ Global Select)
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Bullish +68

Scotiabank raises target for Amgen stock from USD 450.00 to USD 500.00

Analyst upgrade Clinical trial results Dividend AI-generated analysis

πŸ“ˆ Scotiabank analyst Louise Chen raised the price target for Amgen stock from USD 450.00 to USD 500.00 while maintaining an outperform rating.

πŸ’° Amgen reported second-quarter revenue of USD 10.05 billion, surpassing consensus estimates by USD 620 million and growing 9.50% year over year.

πŸ“Š Adjusted earnings per share reached USD 6.29, beating the USD 5.62 consensus estimate, while a quarterly dividend of USD 2.52 was declared.

🧬 The Phase 3 OASIZ 301 study for dazodalibep met its primary endpoint in Sjogren's disease patients with statistically significant improvement at Week 48.

πŸ“… The related Phase 3 OASIZ 303 study is expected to complete in the fourth quarter of 2026, providing a defined clinical milestone.

🏒 Amgen maintains a market capitalization of USD 217.5 billion and trades within a 52-week range of USD 288.00 to USD 447.03 on the Nasdaq.

πŸ“‰ The stock was trading at approximately USD 403.04 in late October 2026, below its previous 52-week high but supported by strong analyst sentiment.

Bullish Signals
  • Scotiabank raised its price target for Amgen from USD 450.00 to USD 500.00, an increase of 11.11 percent, while maintaining an outperform rating.
  • Second-quarter revenue reached USD 10.05 billion, exceeding analyst consensus by USD 620 million and growing 9.50% year over year.
  • Adjusted earnings per share of USD 6.29 significantly beat the USD 5.62 consensus estimate, demonstrating strong profitability.
  • The Phase 3 OASIZ 301 study for dazodalibep met its primary endpoint in Sjogren's disease patients with clinically meaningful improvement observed as early as Week 4.
  • Amgen declared a quarterly dividend of USD 2.52 per share, providing a 2.50% yield to investors.
  • The company is a major component of the Dow Jones Industrial Average and Nasdaq-100 with a market capitalization of USD 217.5 billion.
Full Analysis
Scotiabank analyst Louise Chen raised her price target for Amgen Inc. from USD 450.00 to USD 500.00, maintaining an outperform rating. This significant upward revision of 11.11 percent reflects the company's strong recent financial performance and positive pipeline developments, positioning the stock as a key focus for institutional investors despite current trading levels below its 52-week high. Amgen reported robust second-quarter results that exceeded market expectations, with revenue reaching USD 10.05 billion, a 9.50 percent year-over-year increase. The company beat consensus estimates by USD 620 million, and adjusted earnings per share climbed to USD 6.29 against a forecast of USD 5.62. Additionally, the firm declared a quarterly dividend of USD 2.52 per share, offering a yield of approximately 2.50 percent to shareholders. Beyond financial metrics, Amgen achieved a major clinical milestone with its Phase 3 OASIZ 301 study for dazodalibep meeting its primary endpoint in patients with systemic Sjogren's disease. The study demonstrated statistically significant and clinically meaningful improvements in disease activity as early as Week 4, with sustained benefits observed at Week 48. Further data from the related OASIZ 303 study is expected to be completed by the fourth quarter of 2026. Trading on the Nasdaq, Amgen shares were valued around USD 403.04 as of late October 2026, trading within a 52-week range of USD 288.00 to USD 447.03. With a market capitalization of approximately USD 217.5 billion, the biopharmaceutical giant remains a component of both the Dow Jones Industrial Average and the Nasdaq-100 index, underscoring its established position in the healthcare sector.