Amgen Inc. (NASDAQ: AMGN), a global leader in biotechnology, specializes in developing human therapeutics. The company, founded in 1980, focuses on innovative treatments for serious illnesses such as cancer, cardiovascular diseases, and autoimmune disorders. Amgen continues to make waves in the healthcare industry. Here, we analyze Amgen’s stock performance and predict potential share price targets for 2024, 2025, 2026, and further into the future.
Recent Share Price and One-Month Analysis
As of November 22, 2024, Amgen’s share price stands at $291.42, reflecting a modest gain of 0.52% from the previous trading day. Over the past month, the stock has fluctuated between $288.78 and $291.95, showing a stable price range. However, the current price remains below its 52-week high of $346.85 but above its low of $260.68, indicating resilience amid market volatility.
Key Factors Driving Share Price Trends
- Solid Financial Performance: Amgen reported revenue of $32.53 billion over the trailing twelve months (TTM), reflecting a year-over-year growth of 21.25%. Net income was $4.23 billion, and earnings per share (EPS) stood at $7.83.
- Dividend Payout: Amgen offers an attractive dividend yield of 3.09%, supported by its steady cash flows.
- Research and Development: Investment in R&D totaled $5.75 billion in TTM, highlighting its focus on innovation.
- Analyst Sentiment: Analysts maintain a “Buy” rating with a 12-month price target of $334.58, a 14.81% upside from the current level.
Share Price Target for 2024
Based on current market trends and financial stability, Amgen’s stock could experience steady growth in 2024. Key drivers include potential new drug approvals, consistent revenue growth, and strong dividends.
| Month | Minimum Price ($) | Maximum Price ($) | % Change (from $291.42) |
|---|---|---|---|
| January | 295.00 | 305.00 | +1.23% to +4.66% |
| February | 298.00 | 310.00 | +2.26% to +6.38% |
| March | 300.00 | 315.00 | +2.94% to +8.09% |
| April | 305.00 | 320.00 | +4.66% to +9.80% |
| May | 310.00 | 325.00 | +6.38% to +11.53% |
| June | 315.00 | 330.00 | +8.09% to +13.24% |
| July | 320.00 | 335.00 | +9.80% to +14.95% |
| August | 325.00 | 340.00 | +11.53% to +16.67% |
| September | 330.00 | 345.00 | +13.24% to +18.39% |
| October | 335.00 | 350.00 | +14.95% to +20.10% |
| November | 340.00 | 355.00 | +16.67% to +21.81% |
| December | 345.00 | 360.00 | +18.39% to +23.52% |
Share Price Target for 2025
In 2025, Amgen’s share price is expected to benefit from continued innovation and its growing market presence in emerging regions.
| Month | Minimum Price ($) | Maximum Price ($) | % Change (from $291.42) |
|---|---|---|---|
| January | 350.00 | 370.00 | +20.10% to +26.92% |
| February | 355.00 | 375.00 | +21.81% to +28.63% |
| March | 360.00 | 380.00 | +23.52% to +30.35% |
| April | 365.00 | 385.00 | +25.24% to +32.06% |
| May | 370.00 | 390.00 | +26.92% to +33.77% |
| June | 375.00 | 395.00 | +28.63% to +35.49% |
| July | 380.00 | 400.00 | +30.35% to +37.21% |
| August | 385.00 | 405.00 | +32.06% to +38.92% |
| September | 390.00 | 410.00 | +33.77% to +40.63% |
| October | 395.00 | 415.00 | +35.49% to +42.34% |
| November | 400.00 | 420.00 | +37.21% to +44.05% |
| December | 405.00 | 425.00 | +38.92% to +45.77% |
Amgen Inc. Share Price Target for 2026
Based on our analysis, the stock of Amgen Inc. (NASDAQ: AMGN) shows promising potential for growth in 2026. This forecast accounts for the company’s historical growth patterns, robust financial performance, and market dynamics. Here’s the projected price range for 2026:
| Month | Minimum Price ($) | Maximum Price ($) | Percentage Increase (%) |
|---|---|---|---|
| January | 300 | 320 | 3% – 10% |
| February | 305 | 325 | 5% – 12% |
| March | 310 | 330 | 7% – 15% |
| April | 315 | 340 | 8% – 17% |
| May | 320 | 345 | 10% – 18% |
| June | 325 | 350 | 12% – 20% |
| July | 330 | 355 | 14% – 21% |
| August | 335 | 360 | 15% – 23% |
| September | 340 | 365 | 17% – 25% |
| October | 345 | 370 | 18% – 27% |
| November | 350 | 375 | 20% – 29% |
| December | 355 | 380 | 22% – 30% |
Share Price Target for 2030
Amgen is anticipated to exhibit steady growth over the long term, supported by its innovative drug pipeline, strategic acquisitions, and expanding global presence. Below is the projected price trajectory for 2030:
| Month | Minimum Price ($) | Maximum Price ($) | Percentage Increase (%) |
|---|---|---|---|
| January | 450 | 470 | 55% – 65% |
| February | 455 | 475 | 57% – 67% |
| March | 460 | 480 | 58% – 69% |
| April | 465 | 485 | 60% – 71% |
| May | 470 | 490 | 62% – 72% |
| June | 475 | 495 | 63% – 74% |
| July | 480 | 500 | 65% – 75% |
| August | 485 | 505 | 66% – 77% |
| September | 490 | 510 | 68% – 78% |
| October | 495 | 515 | 69% – 80% |
| November | 500 | 520 | 71% – 82% |
| December | 505 | 525 | 72% – 83% |
Share Price Target for 2035
By 2035, the company is expected to further strengthen its position in the biotechnology sector, with innovative products driving revenue growth and market valuation. Here’s the projected range for 2035:
| Month | Minimum Price ($) | Maximum Price ($) | Percentage Increase (%) |
|---|---|---|---|
| January | 650 | 700 | 125% – 140% |
| February | 660 | 710 | 128% – 142% |
| March | 670 | 720 | 130% – 144% |
| April | 680 | 730 | 133% – 146% |
| May | 690 | 740 | 135% – 148% |
| June | 700 | 750 | 138% – 150% |
| July | 710 | 760 | 140% – 152% |
| August | 720 | 770 | 143% – 154% |
| September | 730 | 780 | 145% – 156% |
| October | 740 | 790 | 148% – 158% |
| November | 750 | 800 | 150% – 160% |
| December | 760 | 810 | 153% – 162% |
Share Price Target for 2040 and Beyond
Amgen’s long-term growth trajectory depends on its adaptability to industry changes, sustainability in R&D, and consistent market leadership. The table below outlines the expected price movement by 2040:
| Month | Minimum Price ($) | Maximum Price ($) | Percentage Increase (%) |
|---|---|---|---|
| January | 900 | 950 | 200% – 220% |
| February | 910 | 960 | 203% – 222% |
| March | 920 | 970 | 205% – 224% |
| April | 930 | 980 | 208% – 226% |
| May | 940 | 990 | 210% – 228% |
| June | 950 | 1000 | 213% – 230% |
| July | 960 | 1010 | 215% – 232% |
| August | 970 | 1020 | 218% – 234% |
| September | 980 | 1030 | 220% – 236% |
| October | 990 | 1040 | 223% – 238% |
| November | 1000 | 1050 | 225% – 240% |
| December | 1010 | 1060 | 228% – 242% |
This detailed projection illustrates Amgen’s growth potential for investors looking for long-term value. These tables are based on historical data, projected financial performance, and market trends. However, actual performance may vary due to unforeseen market dynamics. Always consult a financial advisor before making investment decisions.
Should You Buy Amgen Stock?
Amgen’s strong fundamentals, attractive dividend yield, and diverse product lineup make it a compelling long-term investment. However, its high debt-to-equity ratio of 8.02 and potential market challenges warrant caution. The stock appears well-suited for investors seeking stability and income.
Bear vs. Bull Case
Bull Case:
- Expanding product portfolio and R&D investments.
- Stable revenue and consistent dividend growth.
- Strong analyst support with an average price target of $334.58.
Bear Case:
- High debt levels could strain financial flexibility.
- Increased competition in the biosimilar market.
- Regulatory and pricing pressures in key markets.
Comparative Analysis
Here’s how Amgen stacks up against similar biotechnology stocks:
| Company | Market Cap ($B) | EPS ($) | Dividend Yield (%) | 1-Year Price Change (%) |
|---|---|---|---|---|
| Amgen | 156.53 | 7.83 | 3.09 | +9.25 |
| Biogen | 42.17 | 12.45 | 0.00 | -5.12 |
| Regeneron | 82.46 | 27.33 | 0.00 | +7.34 |
| Gilead | 103.29 | 6.51 | 4.02 | +5.67 |
Amgen Inc. presents a balanced mix of growth potential and stability. Investors should monitor key developments, including drug approvals and financial updates, to align their strategies with long-term goals.