67/100BAmgen stock forecast 2026–2030What is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Analysts' average 12-month price target for Amgen is 418.47, 9.7% below the current price of 463.66. Their targets range from 230.00 to 515.00.
Of the 25 firms that rated Amgen in the past 12 months, 8 rate it buy or strong buy, 15 hold and 2 sell or strong sell (each firm at its latest rating): a Hold consensus.
Analysts' 1-year price targets range from 230.00 to 515.00, with an average of 418.47.
| Buy | 8 | |
| Hold | 15 | |
| Sell | 2 |
12-month price target
| Highest target | 515.00 |
| Average target | 418.47 |
| Lowest target | 230.00 |
| Current price | 463.66 |
Amgen price target historyWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Have analysts recently raised or lowered their Amgen price target and rating?
How analysts rate Amgen, month by monthWhat is the analyst rating? The analyst rating sums up what the analysts covering a stock recommend, from strong buy to strong sell, by the share of them rating it a buy.
8 of 25 firms rate it buy now, against 4 of 13 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
Amgen analyst upgrades, downgrades and price targets
The latest rating change came on 6 November 2026, when Freedom Broker downgraded Amgen from Buy to Hold. The most recent new target came from Argus Research on 12 November 2026: 515.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 12 Nov 2026 | Argus Research Jasper Hellweg | Reiterated · Buy | 460.00 → 515.00 | +12.0% | 471.19 |
| 6 Nov 2026 | Freedom Broker | Downgraded · Buy → Hold | — | — | — |
| 4 Nov 2026 | Cantor Fitzgerald Carter Gould | Reiterated · Neutral | 440.00 → 465.00 | +5.7% | 473.82 |
| 4 Nov 2026 | Bernstein Courtney Breen | Reiterated · Market Perform | 345.00 → 400.00 | +15.9% | 473.04 |
| 4 Nov 2026 | RBC Capital Luca Issi | Reiterated · Outperform | 430.00 → 470.00 | +9.3% | 472.83 |
| 4 Nov 2026 | Truist Financial Greg Renza | Reiterated · Hold | 380.00 → 398.00 | +4.7% | 469.85 |
| 4 Nov 2026 | Canaccord Genuity Gary Nachman | Reiterated · Hold | 384.00 → 440.00 | +14.6% | 461.26 |
| 4 Nov 2026 | Wells Fargo Mohit Bansal | Reiterated · Equal Weight | 430.00 → 460.00 | +7.0% | 461.26 |
| 23 Oct 2026 | Oppenheimer | Reiterated · Outperform | 450.00 → 480.00 | +6.7% | 447.28 |
| 21 Oct 2026 | Barclays | Reiterated · Equal Weight | 380.00 → 400.00 | +5.3% | 438.94 |
| 13 Oct 2026 | Guggenheim Vamil Divan | Reiterated · Neutral | 388.00 → 378.00 | -2.6% | 417.57 |
| 12 Oct 2026 | BMO Capital | Reiterated · Market Perform | 450.00 → 415.00 | -7.8% | 415.80 |
| 12 Oct 2026 | Wells Fargo | Reiterated · Equal Weight | 435.00 → 430.00 | -1.1% | 414.87 |
| 8 Oct 2026 | RBC Capital | Reiterated · Outperform | 400.00 → 430.00 | +7.5% | 407.58 |
| 8 Oct 2026 | Cantor Fitzgerald Carter Gould | Reiterated · Neutral | 400.00 → 440.00 | +10.0% | 413.08 |
| 7 Oct 2026 | Truist Financial | Reiterated · Hold | 325.00 → 380.00 | +16.9% | 413.67 |
| 28 Sept 2026 | Scotiabank Louise Chen | — | 450.00 → 500.00 | +11.1% | 417.71 |
| 23 Sept 2026 | Jefferies Akash Tewari | — | 350.00 → 410.00 | +17.1% | 410.24 |
| 17 Sept 2026 | UBS Michael Yee | — | 420.00 → 430.00 | +2.4% | 378.42 |
| 10 Sept 2026 | HSBC | Downgraded · Buy → Hold | — | — | — |
| 8 Sept 2026 | BMO Capital | Downgraded · Outperform → Market Perform | — | — | — |
| 4 Sept 2026 | Wells Fargo Mohit Bansal | Reiterated · Equal Weight | 375.00 → 435.00 | +16.0% | 444.12 |
| 20 Aug 2026 | Piper Sandler David Amsellem | Reiterated · Overweight | 427.00 → 457.00 | +7.0% | 442.36 |
| 19 Aug 2026 | Morgan Stanley | Reiterated · Equal Weight | 333.00 → 362.00 | +8.7% | 440.28 |
| 19 Aug 2026 | Argus Research | Reiterated · Buy | 460.00 | — | 439.95 |
| 18 Aug 2026 | Cantor Fitzgerald | Reiterated · Neutral | 315.00 → 400.00 | +27.0% | 419.38 |
| 18 Aug 2026 | Mizuho Securities | Reiterated · Neutral | 303.00 → 352.00 | +16.2% | 419.38 |
| 14 Aug 2026 | Barclays Emily Field | Reiterated · Equal Weight | 360.00 → 380.00 | +5.6% | 417.84 |
| 10 Aug 2026 | Guggenheim Vamil Divan | Reiterated · Neutral | 343.00 → 388.00 | +13.1% | 410.95 |
| 6 Aug 2026 | Bernstein | Reiterated · Market Perform | 335.00 → 345.00 | +3.0% | 407.83 |
| 5 Aug 2026 | Scotiabank Louise Chen | Reiterated · Sector Outperform | 450.00 | — | 406.25 |
| 5 Aug 2026 | Oppenheimer | Reiterated · Outperform | 400.00 → 450.00 | +12.5% | 390.02 |
| 5 Aug 2026 | RBC Capital | Reiterated · Outperform | 360.00 → 400.00 | +11.1% | 390.02 |
| 5 Aug 2026 | Robert W. Baird Brian Skorney | — | 230.00 | — | 390.02 |
| 5 Aug 2026 | Canaccord Genuity Gary Nachman | Reiterated · Hold | 366.00 → 384.00 | +4.9% | 390.02 |
| 5 Aug 2026 | BMO Capital Evan Seigerman | Reiterated · Outperform | 400.00 → 450.00 | +12.5% | 390.02 |
| 29 Jul 2026 | Barclays Emily Field | Reiterated · Equal Weight | 185.00 → 360.00 | +94.6% | 393.10 |
| 13 Jul 2026 | UBS | Reiterated · Buy | 390.00 → 420.00 | +7.7% | 358.68 |
| 13 Jul 2026 | Guggenheim | Reiterated · Neutral | 340.00 → 343.00 | +0.9% | 363.39 |
| 8 Jul 2026 | Morgan Stanley | Reiterated · Equal Weight | 340.00 → 333.00 | -2.1% | 368.10 |
| 1 Jul 2026 | BMO Capital Evan David Seigerman | — | 372.00 → 400.00 | +7.5% | 362.45 |
| 16 Jun 2026 | Mizuho Securities Salim Syed | Reiterated · Neutral | 295.00 → 303.00 | +2.7% | 350.53 |
| 9 Jun 2026 | Morgan Stanley | — | 332.00 → 340.00 | +2.4% | 344.57 |
| 5 Jun 2026 | Goldman Sachs | — | 389.00 | — | 352.62 |
| 14 May 2026 | Piper Sandler | Reiterated · Overweight | 432.00 → 427.00 | -1.2% | 336.45 |
| 4 May 2026 | Guggenheim | Reiterated · Neutral | 351.00 → 340.00 | -3.1% | 329.82 |
| 1 May 2026 | Morgan Stanley | — | 326.00 → 332.00 | +1.8% | 329.31 |
| 20 Apr 2026 | Canaccord Genuity | — | 366.00 | — | 350.16 |
| 10 Apr 2026 | Morgan Stanley Terence Flynn | Reiterated · Equal Weight | 309.00 → 326.00 | +5.5% | 352.59 |
| 9 Apr 2026 | Guggenheim | Reiterated · Neutral | 351.00 | — | 355.60 |
Amgen EPS and revenue estimatesWhat are estimate revisions? Estimate revisions are the changes analysts make to their EPS and revenue forecasts for the years ahead. They show whether expectations are rising or falling.
Analysts expect Amgen's EPS to grow 23.6% a year until 2028, faster than over the last 5 years (2.9% a year) and the last 3 years (5.5%).
Analysts expect Amgen's revenue to grow 5.6% a year until 2028. Over the last 5 years it grew 7.6% a year, and over the last 3 years 11.8%.
Revenue
EPS
Does Amgen beat earnings estimates?What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
On average, analysts' EPS estimate was 8.6% off the result, either way, and their revenue estimate 2.4%, over the last 12 quarters.
- EPS beats
- 101 / 136
- Revenue beats
- 93 / 120
- Average EPS surprise, last 12What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
- +8.6%
- Since
- February 1993
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 3 Nov 2026 | 5.79 | 6.45 | +11.4% | 10.07B | 10.37B | +3.0% |
| Q2 FY2026 | 4 Aug 2026 | 5.62 | 6.29 | +11.9% | 9.43B | 10.05B | +6.7% |
| Q1 FY2026 | 30 Apr 2026 | 4.77 | 5.15 | +8.0% | 8.58B | 8.62B | +0.5% |
| Q4 FY2025 | 3 Feb 2026 | 4.73 | 5.29 | +11.8% | 9.47B | 9.87B | +4.1% |
| Q3 FY2025 | 4 Nov 2025 | 5.02 | 5.64 | +12.4% | 8.97B | 9.56B | +6.6% |
| Q2 FY2025 | 5 Aug 2025 | 5.28 | 6.02 | +14.0% | 8.94B | 9.17B | +2.6% |
| Q1 FY2025 | 1 May 2025 | 4.27 | 4.90 | +14.8% | 8.06B | 8.15B | +1.1% |
| Q4 FY2024 | 4 Feb 2025 | 5.04 | 5.31 | +5.4% | 8.88B | 9.09B | +2.3% |
| Q3 FY2024 | 30 Oct 2024 | 5.11 | 5.58 | +9.2% | 8.50B | 8.50B | +0.1% |
| Q2 FY2024 | 6 Aug 2024 | 4.98 | 4.97 | -0.2% | 8.35B | 8.39B | +0.4% |
| Q1 FY2024 | 2 May 2024 | 3.88 | 3.96 | +2.1% | 7.45B | 7.45B | -0.1% |
| Q4 FY2023 | 6 Feb 2024 | 4.59 | 4.71 | +2.6% | 8.13B | 8.20B | +0.9% |
Amgen stock price 2026–2030: scenariosHow are the stock price scenarios calculated? Bear, base and bull prices for the years ahead: the analysts' EPS estimates times the lowest, average and highest P/E of the stock today and at its last five year ends, or of its peers.
If Amgen's earnings keep growing at the 7.1% a year analysts expect to FY2028, it would earn about 30.81 a share in FY2030. At the P/E it has traded at over the last five years (21.6 to 34.2) that is 664.30 to 1,053.75 a share, or 770.05 at its average P/E of 25.0. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2026 | 23.55 | 507.71 | 588.53 | 805.36 |
| FY2027 | 25.03 | 539.82 | 625.76 | 856.29 |
| FY2028 | 26.85 | 579.01 | 671.18 | 918.45 |
| FY2029 (extrapolated) | 28.76 | 620.19 | 718.92 | 983.78 |
| FY2030 (extrapolated) | 30.81 | 664.30 | 770.05 | 1,053.75 |
Each year's EPS is the analysts' consensus to FY2028; the years after grow 7.1% a year (the analysts' growth, at most 15%). Bear, base and bull apply the lowest, average and highest P/E of today and the last five fiscal year ends, leaving out any above 60, the mark of a year of collapsed earnings (21.6, 25.0, 34.2).
Is Amgen stock undervalued or overvalued?How does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
Amgen's P/E of 26.7 is above the middle of its 5-year range (14.5 to 57.8, median 23.7). Analysts do not expect faster growth than in recent years, so it is expensive compared with its own history. Buyers pay less for each point of growth than usual: a PEG of 1.1 on expected growth against 8.1 on its median P/E and past five years' growth. At its usual P/E (24.1 × EPS of 15.24), Amgen's fair value is 366.70; the price, 463.66, is 26.4% above it. The EPS is without 2.14 a share of one-off gains in its other income, which the business does not repeat. Its forward P/E, on the consensus for FY2026, is 19.7.
Fair value is the usual (median) P/E of the last five years times the earnings per share of the last twelve months; the ends of the bar are the same earnings at its lowest and highest P/E of those years (17.7 and 43.6). The price against its P/E range
- Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 26.68
- Five-year median P/EWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 23.75
- Five-year P/E range
- 14.5 – 57.8
- Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 19.69
- PEG ratioWhat is the PEG ratio? The PEG ratio divides the P/E by the yearly earnings growth analysts expect, to show how much you pay for each point of growth.
- 3.75
- To the average targetWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
- -9.7%
Most undervalued US stocksHow does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
| Stock | Price | Fair value | Upside |
|---|---|---|---|
| 35.850 | 71.4258Price 35.85193 | +99.2% | |
| 29.050 | 56.2634Price 29.0596 | +93.7% | |
| 241.000 | 464.49205Price 241.00627 | +92.7% | |
| 123.590 | 237.24178Price 123.59297 | +92.0% | |
| 161.400 | 305.52159Price 161.40396 | +89.3% | |
| 157.460 | 297.58169Price 157.46471 | +89.0% | |
| 217.560 | 405.38304Price 217.56507 | +86.3% |
Furthest below the fair value on each stock's page, updated every day.