Global Finance News
19 Aug 2026, 16:35
Amgen Stock Rises 2.7% as Argus Raises Price Target and Morgan Stanley Reiterates Overweight
Amgen (NASDAQ: AMGN) shares are up about 2.7% following positive analyst actions from Argus and Morgan Stanley, adding to bullish sentiment around the biotechnology company.
Argus analyst Jasper Hellweg raised the firm's price target on Amgen to $460 from $375 while maintaining a Buy rating. The new target represents roughly 5% upside from the stock's current price of $436.60.
Morgan Stanley analyst Terence Flynn also reiterated an Overweight rating on Amgen. Although the displayed $362 price target is below the current share price, the continued Overweight recommendation provides another positive signal on the company's broader outlook.
Amgen is one of the world's largest biotechnology companies, with a diversified portfolio spanning oncology, cardiovascular disease, inflammation and rare diseases. Its scale, established product portfolio and pipeline provide a relatively defensive position within the biotech sector, while newer products and pipeline development offer additional growth opportunities.
The 2.7% gain appears supported by the combination of Argus' substantial price-target increase and Morgan Stanley's reiterated bullish rating, with Argus' move particularly notable given the increase from $375 to $460.
Amgen (NASDAQ: AMGN) shares are up about 2.7% following positive analyst actions from Argus and Morgan Stanley, adding to bullish sentiment around the biotechnology company.
Argus analyst Jasper Hellweg raised the firm's price target on Amgen to $460 from $375 while maintaining a Buy rating. The new target represents roughly 5% upside from the stock's current price of $436.60.
Morgan Stanley analyst Terence Flynn also reiterated an Overweight rating on Amgen. Although the displayed $362 price target is below the current share price, the continued Overweight recommendation provides another positive signal on the company's broader outlook.
Amgen is one of the world's largest biotechnology companies, with a diversified portfolio spanning oncology, cardiovascular disease, inflammation and rare diseases. Its scale, established product portfolio and pipeline provide a relatively defensive position within the biotech sector, while newer products and pipeline development offer additional growth opportunities.
The 2.7% gain appears supported by the combination of Argus' substantial price-target increase and Morgan Stanley's reiterated bullish rating, with Argus' move particularly notable given the increase from $375 to $460.
