Amgen Price Target Increased to $352.00 Amid Robust Earnings

Amgen Inc (NASDAQ:AMGN) received an updated price target of $352.00 from Mizuho, increasing it from its previous estimate of $303.00. The firm currently has a 'neutral' rating on the medical research company's stock.

The potential downside for Amgen stock based on this new target is 16.07%. This suggests that the stock could fall by up to 16% if it reaches the predicted price point.

Other analysts have also weighed in on AMGN, with Canaccord Genuity Group increasing their price target from $366.00 to $384.00 and giving a 'hold' rating. The Goldman Sachs Group set a $389.00 price objective on shares of Amgen in a research report.

Amgen's stock has been performing relatively well, with the company reporting quarterly earnings that exceeded analysts' estimates. The firm's revenue was up 9.5% year-over-year, and its net margin was 22.95%.