Should You Buy Amgen Inc (AMGN) Today? Analysis, Price Targets, and 2026 Outlook.
Conclusion
Buy
Latest Price
342.220
1 Day change
-2.59%
52 Week Range
353.250
Analysis Updated At
2026/01/28
Buy for a beginner long-term investor (you can enter now). AMGN is in a strong uptrend with bullish momentum and supportive options sentiment, and the business is showing solid growth (2025/Q3). The main near-term offsets are heavy insider selling and a mixed Street view (notably Bernstein’s downgrade), but at the current ~$350 area the weight of trend + fundamentals still favors buying rather than waiting for an “optimal” dip.
Technical Analysis
Trend/momentum: Bullish. Moving averages are stacked positively (SMA_5 > SMA_20 > SMA_200) and the MACD histogram (2.326) is above zero and expanding, confirming upward momentum.
Overbought risk: RSI_6 is ~79.5, which typically signals overbought conditions and raises the odds of a short-term pullback/consolidation even within an uptrend.
Levels: Pivot support ~337.05 (key area to hold for trend health), near-term resistance at R2 ~357.73. Pre-market (~350.11) is already above R1 (~349.83), suggesting strength but also that price is pushing into a more resistance-heavy zone.
Intellectia Proprietary Trading Signals
- [AI Stock Picker](module://ai_stock_pick): No signal on given stock today.
- [SwingMax](module://swingmax): No signal on given stock today.
Options Data
Bullish
Open Interest Put-Call Ratio
Bullish
Option Volume Put-Call Ratio
Sentiment read: Bullish-to-neutral. Put/call open interest at 0.72 and put/call volume at 0.4 indicate calls are favored (more aggressive call buying vs puts).
Positioning/temperature: IV (30D) ~26.54 vs historical vol ~28.93 suggests options are not pricing extreme fear; IV percentile ~52 is mid-range. Volume is lighter than the 30-day average (today vs avg ~74%), but open interest is relatively elevated (today vs OI avg ~116%), implying existing positioning is meaningful even if today’s volume isn’t overheated.
Technical Summary
Sell
4
Buy
8
Positive Catalysts
2026/01/28 07:19:05
Upcoming earnings: QDEC 2025 earnings on 2026-02-03 (after hours) can act as a near-term catalyst if results/outlook support the recent rally.
Pipeline upside narrative: Continued focus on MariTide (obesity) and the Phase 3 Lp(a) cardiovascular program is a recurring bullish driver in analyst notes.
Sector backdrop: Multiple analysts cite improved sentiment/valuations for pharma/biotech and easing policy overhangs as supportive for 2026 flows.
Insider activity: Insiders are selling, with selling amount up ~876.66% over the last month (bearish signal for near-term confidence).
Competitive/product overhang: Bernstein highlights risk to Repatha from competitive pricing dynamics and suggests limited major catalysts until later ("waiting year").
Mixed analyst signal: A prominent downgrade to Market Perform with a $335 target creates a valuation/expectations ceiling in the near term.
Price stretched short-term: RSI near ~79 increases the odds of a pause/pullback from the ~$350–$358 resistance zone.
Recent trend: Net positive but divided. Multiple firms raised targets/upgraded on pipeline and sector tailwinds (e.g., UBS upgraded to Buy with $380 then lifted to $390; HSBC reiterated Buy with a high $425 target; BMO/Piper/Scotiabank favorable), while Bernstein downgraded to Market Perform with a $335 target, arguing 2026 lacks key MariTide datapoints and pointing to Repatha-related overhangs.
Wall Street pros: Defensive large-cap biotech profile, improving margins, and pipeline optionality (MariTide/Lp(a)).
Wall Street cons: Near-term catalyst gap per bears, competitive pressure on key products, and longer-dated patent expiry concerns.
Influential/political trading check: No recent congress trading data available (and no politician/influential-figure transactions were provided).
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 USD and a high forecast of 425 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 USD and a high forecast of 425 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: 351.320
Low
272
Averages
345.87
High
425
Current: 351.320
Low
272
Averages
345.87
High
425
UBS
Buy
maintain
$380 -> $390
AI Analysis
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
Bernstein
Outperform -> Market Perform
downgrade
$335
2026-01-20
Reason
Bernstein
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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