Amgen (AMGN) Stock Forecast & Price Target

$322.67

+3.57 (+1.12%)

(As of 09/27/2024 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

Moderate Buy

Based on 24 Analyst Ratings

Sell
1

Hold
11

Buy
12

Based on 24 Wall Street analysts who have issued ratings for Amgen in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 24 analysts, 1 has given a sell rating, 11 have given a hold rating, 11 have given a buy rating, and 1 has given a strong buy rating for AMGN.

Consensus Price Target

$325.55
0.89% Upside

According to the 24 analysts' twelve-month price targets for Amgen, the average price target is $325.55. 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 0.89% from the current price of $322.67.

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AMGN Analyst Ratings Over Time

Type	Current Forecast 9/30/23 to 9/29/24	1 Month Ago 8/31/23 to 8/30/24	3 Months Ago 7/2/23 to 7/1/24	1 Year Ago 9/30/22 to 9/30/23
Strong Buy	1 Strong Buy rating(s)	0 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)	8 Buy rating(s)
Hold	11 Hold rating(s)	11 Hold rating(s)	10 Hold rating(s)	5 Hold rating(s)
Sell	1 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	2 Sell rating(s)
Consensus Price Target	$325.55	$326.89	$307.35	$265.44
Forecasted Upside	0.89% Upside	-2.08% Downside	-1.18% Downside	-1.24% Downside
Consensus Rating	Moderate Buy	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	2.50	2.78	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	0.89% Upside	818.50% Upside	6.16% Upside
News Sentiment Rating	Neutral News See Recent AMGN News	Positive 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
9/27/2024	Cantor Fitzgerald 3 of 5 stars	O. Brayer Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Overweight	$405.00	+26.92%
9/26/2024	Royal Bank of Canada 4 of 5 stars		Reiterated Rating	Outperform ➝ Outperform	$362.00 ➝ $362.00	+14.85%
9/25/2024	Robert W. Baird 2 of 5 stars		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	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$360.00 ➝ $381.00	+21.92%
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%
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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	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$375.00 ➝ $380.00	+22.79%
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	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$284.00 ➝ $307.00	-1.65%
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%
5/3/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Underweight ➝ Equal Weight	$230.00 ➝ $300.00	+7.76%
5/3/2024	William Blair Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Phipps Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Market Perform ➝ Outperform
4/12/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$320.00	+19.35%
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 Sunday at 09:11 PM 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 Wednesday, September 11, 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 a strong track record of developing and delivering human therapeutics worldwide, indicating a stable and reliable business model.
Recent analysts' ratings have been positive, with an average rating of "Moderate Buy" and an average price target of $326.89, suggesting growth potential.
Amgen Inc. announced a quarterly dividend of $2.25 per share, providing investors with a steady income stream and a dividend yield of 2.72%.
Amgen Inc.'s stock price has been trading at $331.01, showing an upward trend and potential for capital appreciation.
Amgen Inc. reported strong quarterly earnings, with an EPS of $4.97 and revenue of $8.39 billion, demonstrating financial stability and growth.

Amgen
Bear Case

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

Amgen Inc. has a high debt-to-equity ratio of 11.96, which may indicate increased financial risk and potential limitations on future growth.
The company's P/E ratio of 47.29 and P/E/G ratio of 2.78 suggest that the stock may be overvalued compared to its growth prospects.
Amgen Inc.'s beta of 0.58 indicates lower volatility compared to the market, potentially limiting short-term trading opportunities for investors.
Despite positive analyst ratings, there are concerns about the company's ability to sustain its growth momentum in the face of increasing competition in the biopharmaceutical industry.
Amgen Inc.'s 50-day and 200-day moving averages of $324.06 and $300.22, respectively, may signal potential price volatility and uncertainty in the near term.

AMGN Forecast - Frequently Asked Questions

: According to the research reports of 24 Wall Street equities research analysts, the average twelve-month stock price forecast for Amgen is $325.55, with a high forecast of $405.00 and a low forecast of $215.00.
: 24 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Amgen in the last twelve months. There is currently 1 sell rating, 11 hold ratings, 11 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" AMGN shares.
: According to analysts, Amgen's stock has a predicted upside of 0.89% based on their 12-month stock forecasts.
: Over the previous 90 days, Amgen's stock had 1 upgrade and 1 downgrade by analysts.
: Amgen has been rated by research analysts at Bank of America, Cantor Fitzgerald, Dbs Bank, Deutsche Bank Aktiengesellschaft, Jefferies Financial Group, Morgan Stanley, Oppenheimer, Robert W. Baird, Royal Bank of Canada, TD Cowen, and Wells Fargo & Company in the past 90 days.
: Analysts like Amgen less than other "medical" companies. The consensus rating score for Amgen is 2.50 while the average consensus rating score for "medical" companies is 2.78. Learn more on how AMGN compares to other companies.