Amgen Price Target Boosted to $400.00 Amid Strong Earnings

Amgen (NASDAQ:AMGN) has seen its price objective increased to $400.00 by Royal Bank Of Canada, marking a potential upside of 2.40% from the stock's previous close.

The firm currently holds an 'outperform' rating on Amgen's medical research company stock.

Amgen reported earnings per share (EPS) of $6.29 for the quarter, exceeding analysts' expectations by $0.67, while revenue rose 9.5% year over year to $10.05 billion, beating estimates of $9.43 billion.

The company cited broad-based demand, with 22 products delivering double-digit sales growth.