Amgen (AMGN) Stock Forecast & Price Target

$289.77 +1.90 (+0.66%)

(As of 11/21/2024 ET)

Amgen - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold

Based on 26 Analyst Ratings

Sell
1

Hold
13

Buy
12

Based on 26 Wall Street analysts who have issued ratings for Amgen in the last 12 months, the stock has a consensus rating of "Hold." Out of the 26 analysts, 1 has given a sell rating, 13 have given a hold rating, 11 have given a buy rating, and 1 has given a strong buy rating for AMGN.

Consensus Price Target

$333.57
15.12% Upside

According to the 26 analysts' twelve-month price targets for Amgen, the average price target is $333.57. The highest price target for AMGN is $405.00, while the lowest price target for AMGN is $215.00. The average price target represents a forecasted upside of 15.12% from the current price of $289.77.

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AMGN Analyst Ratings Over Time

Type	Current Forecast 11/23/23 to 11/22/24	1 Month Ago 10/24/23 to 10/23/24	3 Months Ago 8/25/23 to 8/24/24	1 Year Ago 11/23/22 to 11/23/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	11 Buy rating(s)	11 Buy rating(s)	11 Buy rating(s)	10 Buy rating(s)
Hold	13 Hold rating(s)	11 Hold rating(s)	11 Hold rating(s)	8 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	0 Sell rating(s)	2 Sell rating(s)
Consensus Price Target	$333.57	$332.55	$326.89	$278.15
Forecasted Upside	15.12% Upside	5.60% Upside	-0.58% Downside	5.12% Upside
Consensus Rating	Hold	Moderate Buy	Moderate Buy	Hold

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AMGN Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

AMGN Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Amgen Stock vs. The Competition

Type	Amgen	Medical Companies	S&P 500
Consensus Rating Score	2.46	2.80	2.50
Consensus Rating	Hold	Moderate Buy	Moderate Buy
Predicted Upside	15.01% Upside	26,623.65% Upside	8.50% Upside
News Sentiment Rating	Positive News See Recent AMGN News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/15/2024	Wolfe Research 3 of 5 stars	A. Hammond Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Peer Perform
11/14/2024	Citigroup 3 of 5 stars		Initiated Coverage	Neutral	$335.00	+11.13%
11/12/2024	Jefferies Financial Group 2 of 5 stars		Reiterated Rating	Buy ➝ Buy	$380.00 ➝ $380.00	+28.07%
11/12/2024	William Blair Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform
10/31/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$335.00 ➝ $326.00	+1.31%
10/22/2024	Cantor Fitzgerald Subscribe to MarketBeat All Access for the recommendation accuracy rating	O. Brayer Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Overweight ➝ Overweight	$405.00 ➝ $405.00	+28.41%
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10/21/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$381.00 ➝ $383.00	+20.14%
10/17/2024	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating	C. Breen Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Outperform	$380.00	+18.15%
10/14/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Devarakonda Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Hold	$320.00 ➝ $333.00	+1.42%
10/7/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$300.00 ➝ $315.00	-0.48%
9/26/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$362.00 ➝ $362.00	+14.85%
9/25/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Underperform ➝ Underperform	$215.00 ➝ $215.00	-31.92%
9/16/2024	Dbs Bank Subscribe to MarketBeat All Access for the recommendation accuracy rating	N. Chen Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
8/7/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$325.00 ➝ $330.00	+6.40%
8/7/2024	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold ➝ Hold	$310.00 ➝ $305.00	-1.66%
8/7/2024	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$380.00 ➝ $380.00	+22.53%
8/7/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Bansal Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Overweight ➝ Equal Weight	$320.00 ➝ $335.00	+1.84%
7/11/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Equal Weight ➝ Equal Weight	$310.00 ➝ $303.00	-6.67%
6/27/2024	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$300.00 ➝ $340.00	+8.87%
5/9/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$223.00 ➝ $235.00	-23.53%
5/3/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$336.00 ➝ $355.00	+12.91%
3/28/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Market Perform
2/7/2024	Leerink Partnrs Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Risinger Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Outperform ➝ Market Perform
2/7/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$313.00 ➝ $350.00	+10.73%
2/7/2024	Leerink Partners Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Market Perform	$324.00 ➝ $318.00	+0.61%
12/21/2023	Daiwa Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$264.00 ➝ $320.00	+16.29%
10/20/2023	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Neutral ➝ Neutral	$270.00	-3.69%
9/6/2023	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy	$320.00	+25.98%
7/12/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		$220.00 ➝ $200.00	-10.66%
4/28/2023	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		$293.00 ➝ $288.00	+19.83%
2/2/2023	SVB Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		$282.00 ➝ $267.00	+8.36%
2/1/2023	Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform	$307.00 ➝ $289.00	+14.50%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Friday at 01:24 AM ET.

Should I Buy Amgen Stock? AMGN Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, November 7, 2024. Please send any questions or comments about these Amgen pros and cons to contact@marketbeat.com.

Amgen
Bull Case

Here are some ways that investors could benefit from investing in Amgen Inc.:

Amgen Inc. has consistently shown strong financial performance, with a return on equity of 161.72% and a net margin of 10.12% in recent quarters. These metrics indicate the company's profitability and efficiency in generating earnings.
Amgen Inc. announced a quarterly dividend, with a yield of 2.83%. This dividend payout can provide investors with a steady income stream, enhancing the overall return on investment.
Analysts have issued positive ratings on Amgen Inc., with a consensus rating of "Moderate Buy" and an average price target of $326.30. This indicates confidence in the company's future growth potential.
Recent analyst reports have highlighted Amgen Inc.'s stock trading at a price of $319.73, showing stability and potential for capital appreciation in the near term.
Amgen Inc. has a diverse portfolio of human therapeutics, showcasing its commitment to innovation and addressing various medical needs, which can lead to sustained revenue growth.

Amgen
Bear Case

Investors should be bearish about investing in Amgen Inc. for these reasons:

Amgen Inc. has a relatively high debt-to-equity ratio of 9.64, which may indicate higher financial risk and potential constraints on future growth initiatives.
Despite positive analyst ratings, there is a sell rating on Amgen Inc.'s stock, suggesting some concerns or uncertainties in the market regarding the company's performance or outlook.
Amgen Inc.'s stock price has experienced fluctuations, with recent trading down by 0.2%. This volatility may pose challenges for investors seeking stable returns.
The company's price-to-earnings-growth ratio of 2.98 may indicate that the stock is currently overvalued relative to its growth prospects, potentially limiting upside potential.
Amgen Inc. faces competition in the pharmaceutical industry, which could impact its market share and profitability, especially if new entrants or disruptive technologies emerge.

AMGN Forecast - Frequently Asked Questions

: According to the research reports of 26 Wall Street equities research analysts, the average twelve-month stock price forecast for Amgen is $333.57, with a high forecast of $405.00 and a low forecast of $215.00.
: 26 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Amgen in the last twelve months. There is currently 1 sell rating, 13 hold ratings, 11 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" AMGN shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in AMGN, but not buy additional shares or sell existing shares.
: According to analysts, Amgen's stock has a predicted upside of 15.12% based on their 12-month stock forecasts.
: Over the previous 90 days, Amgen's stock had 2 upgrades and 1 downgrade by analysts.
: Amgen has been rated by research analysts at Barclays, Cantor Fitzgerald, Citigroup, Dbs Bank, Jefferies Financial Group, Robert W. Baird, Royal Bank of Canada, Sanford C. Bernstein, TD Cowen, Truist Financial, UBS Group, William Blair, and Wolfe Research in the past 90 days.
: Analysts like Amgen less than other "medical" companies. The consensus rating for Amgen is Hold while the average consensus rating for "medical" companies is Moderate Buy. Learn more on how AMGN compares to other companies.

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This page (NASDAQ:AMGN) was last updated on 11/22/2024 by MarketBeat.com Staff

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Amgen (AMGN) Stock Forecast & Price Target