AMGN AMGEN INC

Price Chart

Executive Summary

On May 3, 2026, William Blair upgraded Amgen (AMGN) to Outperform from Market Perform, citing improved risk/reward, though no specific price target was provided. The firm's 51% accuracy on 273 calls and 4.2% average return places it below top-tier peers like BMO Capital (100% on 3 calls) and Truist Securities (100% on 3 calls). The broader consensus of 43 analysts is weighted 48.8% Buy, 44.2% Hold, and 7.0% Sell, with a mean price target of $352.73 (just 1.9% above the current $346.25). The high of $432 implies +24.8% upside, while the low of $200 suggests a 42.2% downside. In the past 30 days, AMGN has seen 1 upgrade and 0 downgrades, and EPS revisions have been slightly negative over the month but turned positive in the last week. Insider activity shows a single sell of $376k, while institutional flows are mixed—Two Sigma increased its stake 835%, but Renaissance Technologies trimmed −39.7%. Short interest stands at a 62.4% short ratio, indicating elevated bearish positioning. The William Blair upgrade is a contrarian bullish call, but the lack of a price target and mediocre track record limit conviction.

Impact Score

Consensus & Targets

Of 43 analysts covering AMGN, 21 rate it Buy (48.8%), 19 Hold (44.2%), and 3 Sell (7.0%). The majority of ratings are neutral-to-positive, skewing slightly bullish. This upgrade moves William Blair from the Hold camp to the Buy camp, slightly increasing the bullish weight but not dramatically shifting the consensus.

Current price: $346.25. Mean PT: $352.73 (upside 1.9%). Median: $353. High: $432 (+24.8%). Low: $200 ( −42.2%). William Blair did not provide a price target, so its view cannot be compared to consensus on a PT basis. The tight cluster of targets near $350 suggests limited near-term upside expectations from the sell side.

Recent Analyst Activity

In the past 30 days, AMGN has received 1 upgrade (this one) and 0 downgrades. EPS estimate revisions show a mixed picture: next quarter (+1q) had 4 upward and 11 downward revisions over 30 days, but the last 7 days saw 2 upward and 0 downward. The same pattern holds for the full year (+1y): 10 up vs 9 down over 30 days, with 2 up and 0 down in the past week. The near-term trend is improving.

Firm Track Record — William Blair

William Blair accuracy: 51% on 273 calls | avg return: 4.2%

Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 13 firms with ≥5 scored calls.

William Blair has a 51% accuracy rate on 273 ratings, with an average return of 4.2%. This places it below top-performing firms on AMGN such as BMO Capital (100% on 3 calls), Truist Securities (100% on 3), and Morgan Stanley (86% on 7). The firm is not among the most accurate covering this ticker, so its upgrade carries less weight.

Earnings Estimates

Next earnings: Aug 3, 2026

Cross-Platform Signals

Insider trades show a single sell by director Busch Matthew C. for $376k on Feb 19, a bearish signal. Congressional activity includes a Republican buy (Rep. Maria Elvira Salazar, $15k-$50k) and a sell (Rep. David Taylor, $1k-$15k). Institutional flows: Two Sigma increased its stake by 835% to $237M, a strong bullish signal. Renaissance Technologies trimmed −39.7% to $47M. Norges Bank shows both a new and an exit position (possibly data error). Short interest is very high at 62.4% of TRF volume, suggesting heavy short positioning that could lead to a squeeze. The upgrade from William Blair diverges from the insider sell but converges with the large institutional buy and high short interest, creating a mixed cross-platform picture.

Documents Analyzed

Report based on filing metadata.

US Market Status