- Amgen is committing $900 million to expand its Ohio biotech manufacturing facility.
- The average analyst price target for Amgen suggests a potential 14.07% upside.
- GuruFocus estimates a 23.54% upside based on the GF Value metric.
Amgen Inc. (AMGN, Financial) is making a substantial investment of $900 million to enhance its biotech manufacturing capabilities in Ohio. This strategic decision reflects a larger industry movement toward reshoring pharmaceutical production, bolstered by tax incentives and reshoring strategies. Previously, Amgen committed $1 billion to expand its operations in North Carolina, highlighting its dedication to strengthening domestic manufacturing.
Wall Street Analysts' Forecast
Analyzing the insights of 25 industry analysts, the average one-year price target for Amgen Inc. (AMGN, Financial) stands at $320.36. Forecasts range from a high of $400.00 to a low of $185.00. This average target indicates a potential upside of 14.07% from the current trading price of $280.84. For more comprehensive price target data, visit the Amgen Inc. (AMGN) Forecast page.
Brokerage Recommendations
According to consensus data from 33 brokerage firms, Amgen Inc.’s (AMGN, Financial) average brokerage recommendation is 2.5. This rating suggests an "Outperform" status, as part of a scale where 1 represents a Strong Buy and 5 indicates a Sell.
GuruFocus GF Value Estimate
The GF Value, a proprietary GuruFocus metric, estimates Amgen Inc. (AMGN, Financial) to have a one-year fair value of $346.96. This valuation anticipates a 23.54% upside relative to the current market price of $280.84. The GF Value is derived from historical trading multiples, past business growth, and future performance projections. For a deeper analysis, refer to the Amgen Inc. (AMGN) Summary page.
