Cantor Fitzgerald Boosts Amgen Price Target to $400 on Strong Core Portfolio Performance

Cantor Fitzgerald has raised its price target for Amgen Inc.'s (NASDAQ:AMGN) shares to $400 from $350, while maintaining a Neutral rating on the stock. The biotechnology giant is currently trading at $425.40, already surpassing the new target.

The firm increased its fiscal 2026 revenue forecast for Amgen to $39.2 billion, which remains $400 million above the high end of the company's guidance. This revised outlook reflects stronger performance expectations for core portfolio products including Repatha, Evenity, and Uplizna.

Cantor Fitzgerald updated its financial model to incorporate second-quarter results and recent business trends. The price target increase stems primarily from higher sales estimates for Amgen's key drug franchises.