Amgen Named Among 15 Best S&P 500 Dividend Stocks for 2026

Written by Emily J. Thompson, Senior Investment Analyst

AMGN+0.47%

MRK+0.48%

NVS+2.08%

Source: Yahoo Finance

Updated: 1d ago

0mins

Source: Yahoo Finance

Rating Downgrade: Bernstein downgraded Amgen (AMGN) from Outperform to Market Perform while maintaining a $335 price target, primarily due to the view that 2026 is a 'waiting year' for MariTide, which may dampen investor confidence.
Potential Risks: Analysts flagged risks including possible impacts on Repatha from Merck's (MRK) pricing of enlicitide, and uncertainty surrounding the significance of Lp(a) outcomes, with clarity expected only after comparisons with Novartis' (NVS) pelicarsen data.
Acquisition Deal: Amgen announced the acquisition of UK-based Dark Blue Therapeutics for up to $840 million, which will strengthen its oncology pipeline by adding an investigational small molecule targeting acute myeloid leukemia (AML).
R&D Integration: Amgen plans to integrate Dark Blue into its existing research organization to further support early-stage oncology discovery efforts, demonstrating the company's ongoing commitment to innovative drug development.

AMGN

$351.32+Infinity%1D

Analyst Views on AMGN

Wall Street analysts forecast AMGN stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMGN is 345.87 USD with a low forecast of 272.00 USD and a high forecast of 425.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

19 Analyst Rating

11 Buy

7 Hold

1 Sell

Moderate Buy

Current: 349.690

Low

272.00

Averages

345.87

High

425.00

Current: 349.690

Low

272.00

Averages

345.87

High

425.00

UBS

Buy

maintain

$380 -> $390

2026-01-26

New

Reason

UBS

Price Target

$380 -> $390

AI Analysis

2026-01-26

New

maintain

Buy

Reason

UBS raised the firm's price target on Amgen to $390 from $380 and keeps a Buy rating on the shares. The U.S. Pharmaceuticals and Biotechnology group is expected to perform well this year, supported by attractive valuations, light positioning, easing drug pricing overhangs, and continued pharma-led M&A activity that benefits biotech, the analyst tells investors in a research note. Despite concerns around conservative guidance after the recent rally, cheap big pharma and biotech valuations should sustain positive money flows into the sector, the firm says.

Bernstein

Outperform -> Market Perform

downgrade

$335

2026-01-20

Reason

Bernstein

Price Target

$335

2026-01-20

downgrade

Outperform -> Market Perform

Reason

Bernstein downgraded Amgen (AMGN) to Market Perform from Outperform with an unchanged price target of $335 to reflect the firm's view that "2026 is a waiting year" for MariTide. The downgrade also incorporates new overhangs, including risk to Repatha with Merck's (MRK) enlicitide pricing and debate around Lp(a) outcome impact until read-across for Novartis' (NVS) pelicarsen, the analyst tells investors.

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UBS

Neutral -> Buy

upgrade

$317 -> $380

2026-01-06

Reason

UBS

Price Target

$317 -> $380

2026-01-06

upgrade

Neutral -> Buy

Reason

UBS upgraded Amgen to Buy from Neutral with a price target of $380, up from $317, as the analyst assumed coverage of the stock. While the firm notes that there continues to be "significant debate with heavily bearish sentiment," it contends this could provide an opportunity as it sees upside from EPS and the pipeline, both from MariTide in obesity and a new Lp(a) cardiovascular drug in Phase 3 testing, the analyst tells investors.

Morgan Stanley

Equal Weight

downgrade

$329 -> $304

2025-12-12

Reason

Morgan Stanley

Price Target

$329 -> $304

2025-12-12

downgrade

Equal Weight

Reason

Morgan Stanley lowered the firm's price target on Amgen to $304 from $329 and keeps an Equal Weight rating on the shares. The firm expects many of the policy overhangs that dominated the biopharma conversation this year to wane in 2026, bringing the focus back to fundamentals, the analyst tells investors in a 2026 outlook note for the group.

About AMGN

Amgen Inc. is a biotechnology company. It discovers, develops, manufactures and delivers medicines for the toughest diseases. It focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve people’s lives. It operates in the human therapeutics segment. Its marketed products portfolio includes EPOGEN (epoetin alfa); Aranesp (darbepoetin alfa); Parsabiv (etelcalcetide); Neulasta (pegfilgrastim); KANJINTI (trastuzumab-anns); Otezla; BLINCYTO (blinatumomab); ACTIMMUNE (interferon gamma-1b); Neulasta (pegfilgrastim); Sensipar/Mimpara (cinacalcet); Prolia (denosumab); ENBREL; QUINSAIR (levofloxacin); Repatha (evolocumab) and others. It markets ENBREL, a tumor necrosis factor blocker, in the United States and Canada. It markets Otezla, a small molecule that inhibits phosphodiesterase 4, in many countries around the world. It markets Repatha, a proprotein convertase subtilisin/kexin type 9 (PCSK9) inhibitor, in many countries around the world.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.