Cantor Fitzgerald has revised its rating for Amgen (AMGN, Financial), shifting from an Overweight to a Neutral stance. This downgrade comes with a decreased price target, now set at $305, down from $340. The new analyst covering the stock has expressed a tempered outlook on Amgen's future performance.
Despite acknowledging significant potential for Amgen's MariTide, with a 75% probability of success and projections of $10 billion in unadjusted sales, the firm remains cautious. The analyst expressed concerns about MariTide's ability to significantly enhance Amgen's share value in the near to medium term.
The reassessment highlights the challenges facing Amgen as it seeks to generate incremental value for its shareholders amidst a complex market landscape.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 25 analysts, the average target price for Amgen Inc (AMGN, Financial) is $322.04 with a high estimate of $400.00 and a low estimate of $185.00. The average target implies an upside of 17.67% from the current price of $273.68. More detailed estimate data can be found on the Amgen Inc (AMGN) Forecast page.
Based on the consensus recommendation from 33 brokerage firms, Amgen Inc's (AMGN, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Amgen Inc (AMGN, Financial) in one year is $347.00, suggesting a upside of 26.79% from the current price of $273.68. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Amgen Inc (AMGN) Summary page.
