FDA Approval for Hyrnuo: The FDA granted accelerated approval to Bayer AG's Hyrnuo (sevabertinib) for adults with advanced non-squamous non-small cell lung cancer (NSCLC) with HER2 mutations, following prior systemic therapy.
Companion Diagnostic Device: The Oncomine Dx Target Test was approved as a companion diagnostic to detect HER2 TKD activating mutations in NSCLC patients eligible for sevabertinib treatment.
Efficacy of Hyrnuo: In clinical studies, Hyrnuo showed a 71% objective response rate in patients with HER2 mutations who had prior systemic therapy, with a median duration of response of 9.2 months.
Full Approval for Imdelltra: The FDA also fully approved Amgen's Imdelltra (tarlatamab-dlle) for extensive stage small cell lung cancer, demonstrating a 40% reduction in death risk and extending median overall survival by over five months compared to standard chemotherapy.
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
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.
11 Buy
7 Hold
1 Sell
Moderate Buy
Current: 347.070
Low
272.00
Averages
345.87
High
425.00
Current: 347.070
Low
272.00
Averages
345.87
High
425.00
Bernstein
Bernstein
Outperform -> Market Perform
downgrade
$335
2026-01-20
New
Reason
Bernstein
Bernstein
Price Target
$335
AI Analysis
2026-01-20
New
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.
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.
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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.
HSBC
Buy
maintain
$381 -> $425
2025-12-10
Reason
HSBC
Price Target
$381 -> $425
2025-12-10
maintain
Buy
Reason
HSBC raised the firm's price target on Amgen to $425 from $381 and keeps a Buy rating on the shares as part of a 2026 outlook for the pharma group. The firm believes the sector is well positioned to outperform in 2026, "even more so if AI panic kicks in." HSBC's preferred stocks are "growth bucket ideas," but says "fallen angels and value could work as well."
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.
