Piper Sandler Bullish on Amgen with USD 457 Target

Piper Sandler has set a bullish price target of USD 457.00 for Amgen (ISIN US0311621009), reiterating a Buy rating on October 5, 2026. This target surpasses the consensus estimate of USD 401.39, creating a notable gap of USD 55.61. While Piper Sandler maintains a Buy rating, the consensus view is Moderate Buy, reflecting a more cautious outlook among analysts.

The optimism from Piper Sandler comes as Amgen reports strong second-quarter 2026 results, with revenue reaching USD 10.05 billion and diluted earnings per share at USD 4.37. This marks a significant increase from the first quarter, where revenue was USD 8.62 billion and operating cash flow rose from USD 2.19 billion to USD 4.00 billion. Additionally, Amgen announced positive phase 3 results for dazodalibep in treating moderate-to-severe systemic Sjogren's disease on September 22, 2026, adding momentum to its clinical pipeline.

Despite the positive outlook from Piper Sandler, analyst opinions remain divided. MarketBeat reported a Hold consensus with an average target of USD 385.25 on October 6, 2026, highlighting a range of targets from USD 380.00 (Barclays) to USD 457.00 (Piper Sandler). As of October 6, 2026, Amgen's stock was trading at USD 401.24 on Nasdaq, within its 52-week range of USD 288.00 to USD 447.03, and a market capitalization of USD 216.6 billion.

The next key catalyst for Amgen will likely be the continued progress of its clinical pipeline and the impact of its recent quarterly performance on investor sentiment. The varying analyst targets underscore the differing valuations placed on Amgen's future prospects.