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

20 Oct 2026, 05:06 by Danessa Lincoln · The Markets Daily

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

Several other equities research analysts also recently issued reports on AMGN. Robert W. Baird boosted their price objective on Amgen from $215.00 to $230.00 and gave the company an “underperform” rating in a report on Wednesday, August 5th. UBS Group raised their target price on Amgen from $430.00 to $470.00 and gave the company a “buy” rating in a report on Friday, October 9th. TD Cowen lifted their target price on Amgen from $420.00 to $452.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Sanford C. Bernstein increased their price target on shares of Amgen from $335.00 to $345.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $410.00 price target on shares of Amgen in a research report on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $387.93.

Read Our Latest Stock Analysis on AMGN

Amgen Stock Performance

Shares of AMGN stock opened at $424.94 on Friday. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. The firm has a market cap of $229.74 billion, a P/E ratio of 19.33, a P/E/G ratio of 3.17 and a beta of 0.41. The firm’s 50 day moving average price is $415.69 and its 200-day moving average price is $375.45. Amgen has a one year low of $288.00 and a one year high of $447.03.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.62 by $0.67. The firm had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, equities research analysts predict that Amgen will post 22.94 EPS for the current year.

Insider Activity

In other news, SVP Rachna Khosla sold 1,252 shares of Amgen stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the transaction, the senior vice president owned 6,404 shares in the company, valued at approximately $2,666,817.72. This trade represents a 16.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the business’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 transaction, the senior vice president directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Amgen by 38.2% during the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock worth $15,283,363,000 after purchasing an additional 11,656,755 shares during the last quarter. Bank of America Corp DE acquired a new position in Amgen in the second quarter worth $1,831,903,000. Wellington Management Group LLP increased its stake in Amgen by 1,102.7% during the second quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company’s stock valued at $993,031,000 after purchasing an additional 2,514,254 shares during the last quarter. BlackRock Inc. increased its stake in Amgen by 4.8% during the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after purchasing an additional 2,261,544 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Amgen by 702.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,535,257 shares of the medical research company’s stock valued at $647,126,000 after purchasing an additional 1,344,010 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

Positive Sentiment: Australia’s Pharmaceutical Benefits Advisory Committee conditionally backed IMDELLTRA, Amgen’s treatment for extensive-stage small-cell lung cancer. If final requirements are met, the recommendation could improve patient access and create an additional commercial opportunity for the drug. PBAC conditionally backs IMDELLTRA
Positive Sentiment: Exchange-traded funds reportedly purchased approximately $19.4 million of Amgen shares on October 15, indicating institutional demand that may provide some technical support for the stock. ETFs bought Amgen shares
Positive Sentiment: Recent analyst coverage includes a reported Wall Street Zen rating upgrade, while broader commentary highlights Amgen’s established portfolio, dividend, and potential next growth wave. The company’s latest reported quarter also exceeded earnings and revenue expectations, supporting the underlying financial case. Amgen rating upgraded
Neutral Sentiment: Amgen has attracted increased attention on Zacks and other investment platforms. The coverage is largely a recap of factors investors should monitor—including pipeline execution, valuation, competition, and future earnings—rather than a new fundamental announcement. Amgen attracting investor attention
Negative Sentiment: Investor commentary emphasizes that Amgen has reliable cash flow and a dividend but now needs stronger growth. That concern may be weighing on sentiment, particularly with the stock near its 52-week high and investors expecting newer products and pipeline programs to offset slower growth from mature medicines. Amgen needs growth

About Amgen

(Get Free Report)

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.