Should I Buy AMGN? AMGN 2026 Analysis

Should You Buy Amgen Inc (AMGN) Today? Analysis, Price Targets, and 2026 Outlook.

Conclusion

Buy

Latest Price

384.320

1 Day change

4.49%

52 Week Range

385.120

Analysis Updated At

2026/02/04

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Buy now: AMGN just posted a clear Q4 beat and issued an optimistic 2026 revenue outlook, which is a strong near-term catalyst.
Trend still constructive (bullish moving-average stack) and price is sitting near a defined support zone, offering a reasonable “buy here” level for an impatient buyer.
Options positioning is risk-on (calls favored), reinforcing bullish sentiment.
Main offsets: heavy recent insider selling and some pipeline/competitive overhangs (MariTide timing, Repatha threats), but they don’t outweigh the fresh earnings/guidance impulse.

Intellectia Proprietary Trading Signals

AI Stock Picker: No signal on given stock today.
SwingMax: No signal on given stock recently.

Technical Analysis

Trend: Bullish moving averages (SMA_5 > SMA_20 > SMA_200) suggests the broader trend remains upward.
Momentum: MACD histogram is above 0 (bullish) but contracting, implying upside momentum is slowing (more likely grind than breakout).
RSI (6): 43 = neutral-to-slightly weak; not overbought, leaving room for a rebound.
Levels: Pivot 342.41; price 341.51 is slightly below pivot (minor weakness). Key support 333.27 (then 327.62). Resistance 351.56 then 357.21.
Tactical read: Current area is a reasonable entry near support; a push back above pivot improves odds of testing 351–357.

Options Data

Bullish

Open Interest Put-Call Ratio

Bullish

Option Volume Put-Call Ratio

Sentiment: Put/Call ratios (OI 0.72; Volume 0.4) indicate call-skewed positioning (bullish).
Activity: Today volume is ~74% of 30D average (not a frenzy), while open interest is elevated (today vs avg OI ~116%), suggesting meaningful positioning.
Volatility: IV30 26.54 vs HV 28.93 (IV slightly below realized); IV percentile 52 (mid-range) → options not priced at extreme fear/mania.

Technical Summary

Sell

Buy

Positive Catalysts

- Q4 2025 beat: Revenue $9.9B above estimates; adjusted EPS $5.29 above expectations.
- Upbeat 2026 guidance: Revenue outlook $37.0B–$38.4B supports a positive near-term narrative.
- Pipeline angle: MariTide obesity/type 2 diabetes program continues to be positioned as a future growth driver.
- Analyst support: Multiple firms recently raised price targets (e.g., HSBC 425, Oppenheimer 400, UBS 390).

Neutral/Negative Catalysts

- Insider selling spike: insiders are selling, with selling amount up ~876.66% over the last month (sentiment/overhang risk).
- Pipeline timing risk: Bernstein view that “2026 is a waiting year” for MariTide dampens near-term catalyst density.
- Competitive/product risks: Repatha risk highlighted (pricing/competition dynamics) and longer-term patent expiry concerns.
- Market tape: Broader market was weak (S&P 500 -0.85%), which can cap immediate follow-through.

Financial Performance

Latest quarter: 2025/Q4
Revenue: $9.866B, +8.58% YoY (steady top-line growth).
Net income: $1.333B, +112.60% YoY (strong profitability rebound).
EPS: 2.45, +111.21% YoY.
Gross margin: 69.84%, +6.22% YoY (margin expansion supports earnings durability).

Growth

Profitability

Efficiency

Analyst Ratings and Price Target Trends

Recent trend: Net positive—several upgrades/target raises in Jan 2026 (UBS to Buy/raised PT; Oppenheimer raised PT; UBS raised again) and earlier raises (HSBC, BMO, Piper).
Notable negative: Bernstein downgrade to Market Perform (PT 335) citing 2026 as a “waiting year” and new overhangs.
Wall Street pros: Defensive large-cap biotech profile, strong cash generation/margins, pipeline optionality (MariTide, Lp(a)), and improving sector backdrop.
Wall Street cons: Visibility on pipeline monetization timing, competitive threats (e.g., lipid franchise pressure), and longer-dated patent erosion concerns.
Politicians/Congress: No recent congress trading data available.

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: 367.800

Low

272

Averages

345.87

High

425

Current: 367.800

Low

272

Averages

345.87

High

425

Morgan Stanley

Equal Weight

maintain

$304 -> $309

AI Analysis

2026-02-04

New

Reason

Morgan Stanley

Price Target

$304 -> $309

AI Analysis

2026-02-04

New

maintain

Equal Weight

Reason

Morgan Stanley raised the firm's price target on Amgen to $309 from $304 and keeps an Equal Weight rating on the shares after the company posted a Q4 beat and gave 2026 guidance that bracketed consensus.

TD Cowen

Buy

upgrade

$389 -> $420

2026-02-04

New

Reason

TD Cowen

Price Target

$389 -> $420

2026-02-04

New

upgrade

Buy

Reason

TD Cowen raised the firm's price target on Amgen to $420 from $389 and keeps a Buy rating on the shares. The firm updated its model following Q4 results which suggest near and long-term growth despite LOE fears.

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AMGN Should I Buy

AMGN Should I Buy

Should You Buy Amgen Inc (AMGN) Today? Analysis, Price Targets, and 2026 Outlook.

Technical Analysis

Options Data

Technical Summary

Positive Catalysts

Neutral/Negative Catalysts

Financial Performance

Growth

Profitability

Efficiency

Analyst Ratings and Price Target Trends

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