Amgen Stock Holds Above 400 as Analysts Remain Cautious
Amgen Inc. (AMGN) saw its stock rise 0.46% to USD 404.83 on the Nasdaq on October 6, 2026, after Cantor Fitzgerald reiterated a Neutral rating with a price target of USD 400 the day prior. The USD 400 target is slightly below the stock’s current trading price, suggesting a cautious stance from the firm. Cantor cited commercial execution and adjusted expectations for Lp(a) following HORIZON results, alongside positive data from Amgen’s Sjogren’s program.
The market remains divided, with MarketBeat reporting a Hold consensus from 30 analysts. The breakdown includes 1 Strong Buy, 11 Buy, 15 Hold, and 3 Sell ratings, with an average target of USD 385.25. Amgen’s Q2 2026 results provided a solid operating foundation, with total revenue up 10% to USD 10.05 billion and non-GAAP diluted EPS at USD 6.29.
Key growth drivers included Repatha and EVENITY, with revenues rising 37% and 38% respectively. The company also reported positive Phase 3 OASIZ 301 results for dazodalibep, targeting moderate-to-severe systemic Sjogren’s disease. As of October 6, 2026, Amgen’s market value stood at USD 218.5 billion, with the stock trading 9.44% below its 52-week high and 40.57% above its low.
The USD 400 level remains a critical near-term reference for investors, as the stock continues to hold above this mark. Amgen’s next major event is the release of its Q3 2026 results on November 3, 2026.