Amgen Stock Price Hits All-Time High: Is It Too Late to Buy?

Amgen's stock price has surged 51% in the past year, reaching an all-time high of $432.42 on August 28.

This puts it above the average analyst price target of $388, indicating that investors are now paying more for the stock than what analysts think it is worth.

The company's Q2 report showed quarterly revenue crossing $10 billion for the first time, with management raising full-year guidance for both revenue and earnings.

However, this strong performance has left little room for error, as the price has moved past consensus expectations. To justify buying Amgen at this point, execution must stay perfect, especially in the face of an approved oral PCSK9 competitor that could pressure Repatha's market share.