What is the price target for Amgen stock? The consensus sits near $358 from 36 analysts, with a range of $305 (Deutsche Bank) to $450 (Street high). At $402, the stock trades above the April average but within the range of post-Q2 upgrades.
Key context: 18 of 36 analysts rate Amgen Hold, not Buy. That means the consensus is mixed. The wide target spread signals disagreement on MariTide's pipeline value and the pace of Prolia biosimilar erosion.
Q3 earnings will likely determine whether targets move up to meet the price or the price corrects down to meet the targets. Just my read on how to interpret the spread.
#AMGN #Amgen #PriceTarget #StockAnalysis #Pharma
Key context: 18 of 36 analysts rate Amgen Hold, not Buy. That means the consensus is mixed. The wide target spread signals disagreement on MariTide's pipeline value and the pace of Prolia biosimilar erosion.
Q3 earnings will likely determine whether targets move up to meet the price or the price corrects down to meet the targets. Just my read on how to interpret the spread.
#AMGN #Amgen #PriceTarget #StockAnalysis #Pharma