Stocks
HSBC Downgrades Amgen to Hold, Cuts Price Target to $425
Amgen Inc., a leading biotechnology company, saw its stock price drop to $377.35 on September 11, 2026, following an HSBC downgrade from 'Buy' to 'Hold'. The analyst firm reduced its target price for the shares to $425, down from $445.
Amgen's Q2 2026 earnings per share (EPS) came in at $6.29, beating consensus estimates of $5.62. Revenue for the quarter was $10.05 billion, a 9.5% year-over-year increase.
The company's blockbuster medication Repatha drove much of the revenue growth, with sales reaching $953 million in Q2 2026, up 37% from the same period last year.