Amgen Hits New High, But Upside Limited

Amgen's stock price has reached a 52-week high of $447.03, but analysts say there may be limited upside from here.

The company has seen significant growth in revenue and EBITDA over the past four years, with compounded revenue increasing by +41.4% to $36.75B in 2025.

However, the stock's valuation is already high, with a trailing P/E of 27.4x and forward P/E of 19.1x.

The company's leverage has also increased significantly due to its acquisition of Horizon Therapeutics, with debt-to-equity ratio standing at 490.3%.

The technical picture is also showing signs of overbought conditions, with the weekly RSI and Stochastic RSI both above 70 and 90 respectively.