Research
HSBC Downgrades Amgen to Hold From Buy, Adjusts Price Target to $425 From $445
Amgen (AMGN) has an average rating of hold and mean price target of $396.46, according to analysts polled by FactSet.
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41 stories mentioning AMGNUpdated 3d ago
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Recent broker actions mentioned in FINWIRES coverage. Compiled from wire headlines; not investment advice.
- HSBCDowngradedHoldPrice target$425from $445
- BMO CapitalDowngradedMarket PerformPrice target$450
- Mizuho SecuritiesTarget revisedPrice target$352from $303
- Rothschild & Co RedburnTarget revisedSellPrice target$235from $220
- BernsteinTarget revisedMarket PerformPrice target$345from $335
- BofA SecuritiesTarget revisedPrice target$312from $307
What's the latest news on AMGN?
Asia Markets
Update: US Equity Indexes Drop as Houthi Strikes on Saudi Arabia's Energy Infrastructure Lift Crude Oil
(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes declined as Iran-backed Houthi attacks on Saudi Arabian energy facilities sent crude oil higher, fueling inflation concerns.The Dow Jones Industrial Average dropped 1.2% to 52,786.07, the Nasdaq Composite declined 0.3% to 26,421.41, and the S&P 500 retreated 0.6% to 7,673.52 on Tuesday. Energy and utilities were among the gainers. Healthcare and financials led decliners.Iran's Fars news agency reported an explosion in the southern Jask area of the Islamic Republic, after reports of earlier explosions heard on the country's Kharg Island, Al Jazeera, a Middle Eastern broadcaster, reported.This comes as Yemen's Tehran-backed Houthis attacked energy facilities and cities in US ally Saudi Arabia on Tuesday, wounding more than 70 people and underscoring the risk of the Iran conflict escalating into a wider regional war, Reuters reported.Saudi Arabia said the attacks stopped operations at several energy facilities in the kingdom's south, Bloomberg reported, while noting a pick-up in buying by China, the world's largest importer. The US struck three Iranian tankers on Saturday in response to attacks on two US Navy warships."As we ponder a prolonged conflict, our expectations increasingly shift to a slower recovery in Middle East oil supply," Peter Taylor, head of commodity strategy at Macquarie, said in a note. "In this environment, we would anticipate deficits persisting through [year-end 2026], with the market approximately balanced in 2027."The front-month US West Texas Intermediate crude oil contract jumped 2.8% to $94.05 per barrel, and global benchmark North Sea Brent advanced 2.2% to $99.11 per barrel.Most US Treasury yields rose, with the two-year up 1.7 basis points to 4.40%, amid concern that higher crude oil prices undermine the Federal Reserve's efforts to bring inflation back to its 2% target. The 10-year yield was steady at 4.79%.Gold futures dropped 1.7% to $4,403.4.In company news, Novartis (NVS) sank nearly 14% after the company said its phase 3 Harbor study evaluating delpacibart etedesiran in patients with myotonic dystrophy type 1 failed to meet its primary endpoint of video hand opening time. Amgen's (AMGN) experimental heart drug olpasiran may still show a meaningful reduction in major cardiovascular events, even after Novartis' competing drug failed in a large study, UBS Securities said in a note. Amgen shares slumped 10%, the worst performer on the S&P 500, the Nasdaq, and the Dow.Intel (INTC) is expected to raise personal computer central processing unit prices by another 10% in early October, Digitimes reported, citing supply chain sources. Intel shares jumped 9.1%, among the top gainers on the S&P 500 and the Nasdaq.Palantir Technologies (PLTR) and Nebius Group (NBIS) agreed on a strategic partnership that will give Palantir commercial customers access to Nebius' artificial intelligence-native compute infrastructure and cloud platform, the companies said Tuesday. Nebius shares surged 7.7%, among the biggest Nasdaq outperformers.In economic news, the National Federation of Independent Business' monthly sentiment index fell to 98.7 in August from 99.8 in July, with declines in six of the 10 components, particularly the economic outlook."Uncertainty remains elevated among small business owners as they face a mixed set of challenges with weakened sales, supply chain disruptions, and inflation pressures," said NFIB Chief Economist Bill Dunkelberg. "While expectations for the overall economy dimmed, Main Street owners remain largely positive about the health of their own businesses."
Dow JonesNasdaq CompositeS&P 500$AMGN$INTC$NBIS$NVS$PLTR
Japan
US Equity Markets End Lower After Houthi Attack on Saudi Arabia Energy Facilities
US equity indexes ended lower Tuesday after an Iran-backed militia group attacked Saudi Arabian energy sites, pushing crude oil and government bond yields higher.* Yemen's Houthis attacked energy facilities and cities in US ally Saudi Arabia on Tuesday, wounding more than 70 people and underscoring the risk of the Iran conflict escalating into a wider regional war, Reuters reported.* Iran's Fars news agency reported an explosion in the southern Jask area of the Islamic Republic, after reports of earlier explosions heard on the country's Kharg Island, Al Jazeera reported.* October West Texas Intermediate crude oil rose $2.19 to settle at $93.67 per barrel, while November Brent crude, the global benchmark, was last seen up $1.77 at $98.77.* Intel (INTC) is expected to raise personal computer central processing unit prices by another 10% in early October, Digitimes reported, citing supply chain sources. Intel shares jumped 9%, among the top gainers on the S&P 500 and Nasdaq.* Amgen's (AMGN) experimental heart drug olpasiran may still show a meaningful reduction in major cardiovascular events, even after Novartis' competing drug failed in a large study, UBS Securities said Monday in a note. Earlier, Novartis (NVS) shares sank nearly 14% after the phase 3 Harbor study failed to meet its phase 3 primary endpoint of video hand opening time. Amgen shares were down about 10%, the worst performer on the Nasdaq and the Dow.
Dow JonesNasdaq CompositeS&P 500$AMGN$INTC
Japan
Update: US Equity Indexes Retreat as Houthi Strikes on Saudi Arabian Energy Facilities Lift Crude Oil, Treasury Yields
(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes slid as Iran-backed Houthi attacks on Saudi Arabian energy sites pushed crude oil and government bond yields in the United States higher.The Dow Jones Industrial Average dropped 1.1% to 52,853.3, the Nasdaq Composite declined 0.3% to 26,434.4, and the S&P 500 retreated 0.5% to 7,684.5 ahead of Tuesday's close. Energy, utilities and real estate were the trio of gainers. Healthcare and financials led decliners.Iran's Fars news agency reported an explosion in the southern Jask area of the Islamic Republic, after reports of earlier explosions heard on the country's Kharg Island, Al Jazeera, a Middle Eastern broadcaster, reported.This comes as Yemen's Tehran-backed Houthis attacked energy facilities and cities in US ally Saudi Arabia on Tuesday, wounding more than 70 people and underscoring the risk of the Iran conflict escalating into a wider regional war, Reuters reported. Saudi Arabia said the attacks stopped operations at several energy facilities in the kingdom's south, Bloomberg reported, while noting a pick-up in buying by China, the world's largest importer.The front-month US West Texas Intermediate crude oil contract jumped 2.3% to $93.62 per barrel, and global benchmark North Sea Brent advanced 1.6% to $98.54 per barrel.US Treasury yields rose, with the two-year up 1.7 basis points to 4.40% and the 10-year higher by 1.4 basis points to 4.80%.In company news, Novartis (NVS) sank nearly 14% after the company said its phase 3 Harbor study evaluating delpacibart etedesiran in patients with myotonic dystrophy type 1 failed to meet its primary endpoint of video hand opening time. Amgen's (AMGN) experimental heart drug olpasiran may still show a meaningful reduction in major cardiovascular events, even after Novartis' competing drug failed in a large study, UBS Securities said Monday in a report. Shares slumped more than 10%, the worst performer on the S&P 500, the Nasdaq, and the Dow.
Dow JonesNasdaq CompositeS&P 500$AMGN$NVS
Wire
Top Midday Decliners
Sigma Lithium's (SGML) mining and industrial operations remain unaffected by a preliminary judicial ruling that allegedly suspends its environmental licenses, the company said Monday.Shares sank more than 16% as intraday trading volume jumped to over 3.3 million from the stock's daily average of roughly 1.8 million.Novartis (NVS) said its phase 3 Harbor study evaluating delpacibart etedesiran in patients with myotonic dystrophy type 1 failed to meet its primary endpoint of video hand opening time.Shares slumped 14% as intraday trading volume catapulted to over 6.8 million from a daily average of about 1.9 million.Amgen's (AMGN) experimental heart drug olpasiran may still show a meaningful reduction in major cardiovascular events, even after Novartis' competing drug failed in a large study, UBS Securities said Monday in a report.Nevertheless, Amgen shares dropped 9% as intraday trading volume climbed to 3.4 million from a daily average of about 2.7 million.Price: $10.34, Change: $-2.06, Percent Change: -16.59%
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Wire
Amgen's Olpasiran May Still Show Heart-Risk Reduction Despite Novartis Miss, UBS Says
Amgen's (AMGN) experimental heart drug olpasiran may still show a meaningful reduction in major cardiovascular events, even after Novartis' (NVS) competing drug failed in a large study, UBS Securities said Monday in a report.Novartis' pelacarsen trial came up short overall, though UBS' analysis suggests the drug might have shown a modest benefit of 7% to 11% reduction in heart-attack-and-stroke risk among patients with very high levels of lipoprotein(a), a cholesterol-like particle linked to heart disease, the report said.Amgen's study focuses on an even higher-risk group, and olpasiran lowers lipoprotein(a) to a greater degree than pelacarsen, UBS said. Amgen's trial also uses a different primary endpoint that excludes stroke, and taken together, these factors may help turn a small numerical benefit into a statistically significant result, potentially around a 15% reduction in major cardiovascular events, the report said.UBS maintained its buy rating on Amgen stock and its $440 price target.Amgen shares fell 9.9% in Tuesday trading, and Novartis slumped 14%.Price: $393.96, Change: $-43.28, Percent Change: -9.90%
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Wire
Top Midday Stories: GE Aerospace to Acquire Consolidated Precision Products; Qualcomm Issues Share Warrant to Amazon
All three major US stock indexes fell in late-morning trading Tuesday as oil prices climbed and investors monitored developments in the US-Iran war and US trade negotiations with Canada.In company news, GE Aerospace (GE) agreed to acquire Consolidated Precision Products from Warburg Pincus and Berkshire Partners for $11.75 billion. GE shares rose 0.5% around midday.Qualcomm (QCOM) issued a warrant to an Amazon.com (AMZN) affiliate last week to acquire up to 25 million shares at $161.26 each, the chipmaker said. Qualcomm is also collaborating with Amazon to produce customized silicon for large-scale AI data centers and optical connectivity products. Qualcomm shares rose 4.6%, and Amazon fell 0.5%.Novartis (NVS) said its phase 3 Harbor study evaluating delpacibart etedesiran in patients with myotonic dystrophy type 1 failed to meet its primary endpoint of video hand opening time. Separately, Monte Rosa Therapeutics (GLUE) will receive a $50 million milestone payment from Novartis after initiating a phase 2 clinical trial of MRT-6160 to treat Sjogren's disease. Novartis shares slumped 13%, and Monte Rosa rose 1.7%.Boston Scientific (BSX) identified a cybersecurity incident affecting certain information technology systems that resulted in a global disruption of its operations. The company expects to recover part of the affected revenue but said it is unlikely to meet its net sales growth and adjusted EPS guidance ranges for Q3 and the full year. Boston Scientific shares fell 4.6%.Meta Platforms (META) has run over 300 paid advertisements allegedly containing child sexual abuse material this year, according to an investigation by the Tech Transparency Project, a nonprofit watchdog organization. Hours after TTP shared its findings with the company, Meta removed about 150 of the ads that were still visible in its database of advertising that has run on its platforms, the group said. Meta shares were little changed.Amgen (AMGN) said its phase 3 DeLLphi-305 study met its primary endpoint with Imdelltra in combination with AstraZeneca's (AZN) Imfinzi, showing a statistically significant and clinically meaningful improvement in overall survival in patients with extensive-stage small cell lung cancer. Amgen shares still fell 9.6%, and AstraZeneca dropped 0.9%.Price: $338.76, Change: $+1.63, Percent Change: +0.48%
$AMGN$AMZN$AZN$BSX$GE$GLUE$META$NVS$QCOM
Wire
Amgen Says Phase 3 Study Meets Primary Endpoint in Small Cell Lung Cancer
Amgen (AMGN) said Tuesday its phase 3 DeLLphi-305 study met its primary endpoint, with Imdelltra in combination with AstraZeneca's (AZN) Imfinzi showing a statistically significant and clinically meaningful improvement in overall survival in patients with extensive-stage small cell lung cancer.The study evaluated the combination as first-line maintenance treatment for patients with extensive-stage small cell lung cancer whose disease had not progressed after initial treatment, Amgen said. The combination also improved progression-free survival and objective response rate, the company said.The safety profile was consistent with the known profiles of the individual medicines, with no new or unexpected safety signals identified, the company said, adding that it plans to present detailed results at an upcoming medical congress and share the data with regulatory authorities.Price: $402.00, Change: $-35.23, Percent Change: -8.06%
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Research
BMO Capital Downgrades Amgen to Market Perform From Outperform, Price Target is $450
Amgen (AMGN) has an average rating of hold and mean price target of $396.46, according to analysts polled by FactSet.
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Wire
Mizuho Securities Adjusts Amgen Price Target to $352 From $303
Amgen (AMGN) has an average rating of overweight and mean price target of $386.07, according to analysts polled by FactSet.Price: $415.68, Change: $+0.47, Percent Change: +0.11%
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Insider Trading
Amgen Insider Sold Shares Worth $1,346,499, According to a Recent SEC Filing
Rachna Khosla, Senior Vice President, Business Development, on August 11, 2026, sold 3,252 shares in Amgen (AMGN) for $1,346,499. Following the Form 4 filing with the SEC, Khosla has control over a total of 6,404 common shares of the company, with 6,404 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/318154/000031815426000137/xslF345X05/form4.xml
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Insider Trading
Amgen Insider Sold Shares Worth $1,565,898, According to a Recent SEC Filing
Derek Miller, Senior Vice President, Human Resources, on August 06, 2026, sold 3,890 shares in Amgen (AMGN) for $1,565,898. Following the Form 4 filing with the SEC, Miller has control over a total of 12,462 common shares of the company, with 12,462 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/318154/000031815426000130/xslF345X05/form4.xml
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Insider Trading
Amgen Insider Sold Shares Worth $1,194,416, According to a Recent SEC Filing
Nancy A. Grygiel, Senior Vice President & Chief Compliance Officer, on August 06, 2026, sold 2,970 shares in Amgen (AMGN) for $1,194,416. Following the Form 4 filing with the SEC, Grygiel has control over a total of 7,447 common shares of the company, with 7,340 shares held directly and 107 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/318154/000031815426000129/xslF345X05/form4.xml
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Wire
Rothschild & Co Redburn Adjusts Amgen Price Target to $235 From $220, Maintains Sell Rating
Amgen (AMGN) has an average rating of overweight and mean price target of $375.89, according to analysts polled by FactSet.Price: $411.20, Change: $+3.37, Percent Change: +0.83%
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Wire
Bernstein Adjusts Price Target on Amgen to $345 From $335, Maintains Market Perform Rating
Amgen (AMGN) has an average rating of overweight and mean price target of $375.89, according to analysts polled by FactSet.Price: $411.90, Change: $+21.88, Percent Change: +5.61%
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US Markets
Equities Rally Intraday Amid Upbeat Earnings, Hormuz Reopening Hopes
US equities rallied intraday, fueled by upbeat earnings reports and hopes that the Strait of Hormuz would soon reopen.The Nasdaq Composite was up 2.6% at 26,591.3 after midday Tuesday, while the Dow Jones Industrial Average rose 2% to 54,214.6. The S&P 500 advanced 1.8% to 7,743.73. All three main indexes posted gains on Monday, with the Dow notching a record closing high.Among sectors, technology paced the gainers intraday Tuesday with its 4.3% jump, while utilities led the laggards.Palantir Technologies' (PLTR) stock surged nearly 30%, the best performer on the S&P 500, as the company late Monday lifted its full-year revenue guidance on the back of stronger-than-expected second-quarter results.Caterpillar (CAT) was the biggest gainer on the Dow, up 6.9%. The company raised its full-year revenue outlook as it generated more than $20 billion in sales for the first time in a single quarter.Snap (SNAP) soared nearly 14% after the social media company announced second-quarter results above Wall Street's estimates.West Texas Intermediate crude oil fell 5.3% to $76.05 a barrel intraday, while Brent declined 5% to $79.56.Treasury Secretary Scott Bessent told CNBC that the US and Iran could reach an agreement to reopen the Strait of Hormuz, the world's most important chokepoint for crude flows, by Wednesday."We are in talks with the Iranians," Bessent said. "There is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalized position in this conflict."Efforts to resolve the US-Iran conflict are "in very progressive stages," according to Qatar's Foreign Ministry spokesperson Majed al-Ansari, CNN reported.Treasury yields fell intraday, with the two-year yield down 5.8 basis points at 4.2% and the 10-year yield dropping 5.3 basis points to 4.63%.SpaceX (SPCX) shares were up 7.9% intraday with the rocket and satellite company expected to release its first quarterly results since going public after market close Tuesday, along with Advanced Micro Devices (AMD), Arista Networks (ANET), Amgen (AMGN) and Gilead Sciences (GILD).Spot gold rose 1% to $4,094.44 per troy ounce, while silver jumped 4.1% to $60.23 per ounce.
Dow JonesNasdaq CompositeS&P 500$AMD$AMGN$ANET$CAT$GILD$PLTR$SNAP$SPCX
US Markets
Stocks Rise Pre-Bell Ahead of Latest Round of Earnings; Investors Gauge Uncertainty Over Potential US-Iran Deal
US equity futures were tracking in the green on Tuesday as traders await the latest batch of corporate earnings and assess ongoing uncertainty over a potential resolution to the Middle East conflict.The S&P 500 rose 0.2% in premarket activity, while the Dow Jones Industrial Average and the Nasdaq gained 0.3% each. All three main indexes finished Monday trading up, with the Dow notching a record closing high.Caterpillar (CAT), Merck (MRK), McDonald's (MCD), Pfizer (PFE), Spotify Technology (SPOT), Transdigm (TDG), Rockwell Automation (ROK), Archer-Daniels-Midland (ADM), Kimberly-Clark (KMB), BioNTech (BNTX) and DuPont de Nemours (DD) are all scheduled to report their latest financial results before the bell.SpaceX (SPCX) shares were up 2% pre-bell with the rocket and satellite company expected to release its first quarterly results since going public after the markets close, along with Advanced Micro Devices (AMD), Arista Networks (ANET), Amgen (AMGN) and Gilead Sciences (GILD).Palantir Technologies' (PLTR) stock jumped 15% early Tuesday as the company lifted its full-year revenue guidance on the back of stronger-than-expected second-quarter results. Snap (SNAP) climbed 7.3% after the social media company announced second-quarter results above Wall Street's estimates.President Donald Trump reportedly said Monday that the latest round of talks between the US and Iran is the "last chance" for Tehran to "sign a good document." Trump recently called off a planned attack on Iran.However, Iranian Foreign Ministry spokesperson Esmail Baghaei reportedly ruled out an immediate plan to negotiate with Washington. Tehran was in talks with Oman regarding the Strait of Hormuz, the world's most important chokepoint for crude flows, Baghaei reportedly said.West Texas Intermediate crude oil inclined 1.6% to $81.64 a barrel before the opening bell, while Brent advanced 2.3% to $85.66."Hopes of a peace deal in the Middle East weighed on crude prices," D.A. Davidson said in a Monday client note.Treasury yields were trending higher in premarket action, with the two-year rate ticking up 1 basis point to 4.27% and the 10-year rate adding 2.2 basis points to 4.71%.Tuesday's economic calendar has the international trade in goods and services report for June at 8:30 am ET, followed by the Job Openings and Labor Turnover Survey for the same month at 10 am.Gold moved up 0.3% to $4,103 per troy ounce, while bitcoin declined 0.7% to $63,441.
Dow JonesNasdaq CompositeS&P 500$ADM$AMD$AMGN$ANET$BNTX$CAT$DD$GILD$KMB$MCD$MRK$PFE$ROK$SPCX$SPGI$SPOT$TDG
Sectors
Sector Update: Healthcare Stocks Softer Late Afternoon
Healthcare stocks declined late Wednesday afternoon, with the NYSE Healthcare Index down 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.5%.The iShares Biotechnology ETF (IBB) fell 0.9%.In corporate news, Repligen (RGEN) has agreed to acquire BioLife Solutions (BLFS) in a deal valued at about $1.5 billion, the companies said. Repligen shares climbed 2.3%, and BioLife jumped past 6%.Amgen (AMGN) has agreed to pay $74 million to settle a shareholder lawsuit alleging the company waited too long to disclose it may owe the Internal Revenue Service $10.7 billion in back taxes, penalties and interest, news outlets reported Tuesday. Amgen shares were down 0.1%.Arrowhead Pharmaceuticals (ARWR) shares surged past 20% after the company said its phase 3 clinical studies of plozasiran to treat hypertriglyceridemia met the primary endpoint of triglyceride reduction compared with placebo.GSK (GSK) shares were fractionally higher after it said Wednesday the US Food and Drug Administration has approved Jideytro, a ROS1-selective inhibitor, to treat adults with locally advanced or metastatic ROS1-positive non-small cell lung cancer who have previously received a ROS1 kinase inhibitor.
$AMGN$ARWR$BLFS$GSK$RGEN
Sectors
Sector Update: Healthcare Stocks Lower in Afternoon Trading
Healthcare stocks declined Wednesday afternoon, with the NYSE Healthcare Index down 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.3%.The iShares Biotechnology ETF (IBB) fell 0.7%.In corporate news, Repligen (RGEN) has agreed to acquire BioLife Solutions (BLFS) in a deal valued at about $1.5 billion, the companies said. Repligen shares climbed up 3.2%, and BioLife jumped past 7%.Amgen (AMGN) has agreed to pay $74 million to settle a shareholder lawsuit alleging the company waited too long to disclose it may owe the Internal Revenue Service $10.7 billion in back taxes, penalties and interest, news outlets reported Tuesday. Amgen shares were up 0.4%.Tiziana Life Sciences (TLSA) shares rose 1.5% after the firm said Wednesday that founder and Executive Chairman Gabriele Cerrone has purchased 42,357 shares at $0.99 apiece.
$AMGN$BLFS$RGEN$TLSA
Sectors
Sector Update: Healthcare
Healthcare stocks declined Wednesday afternoon, with the NYSE Healthcare Index down 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.3%.The iShares Biotechnology ETF (IBB) fell 1%.In corporate news, Amgen (AMGN) has agreed to pay $74 million to settle a shareholder lawsuit alleging the company waited too long to disclose it may owe the Internal Revenue Service $10.7 billion in back taxes, penalties and interest, news outlets reported Tuesday. Amgen shares were up 0.3%.
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