Wall Street analyst price targets, ratings consensus & upside potential · Updated Feb 28, 2026
Last 12 months price action with 12-month analyst target path
As of March 1, 2026, Amgen Inc. (AMGN) has a Wall Street consensus price target of $347.00, based on estimates from 37 covering analysts. With the stock currently trading at $388.16, this represents a potential downside of -10.6%. The company has a market capitalization of $209.22B.
Analyst price targets range from a low of $185.00 to a high of $432.00, representing a 71% spread in expectations. The median target of $360.00 aligns closely with the consensus average. The wide target spread reflects significant disagreement on fair value.
The current analyst consensus rating is Buy, with 22 analysts rating the stock as a Buy or Strong Buy,12 rating it Hold, and 3 rating it Sell or Strong Sell. The positive sentiment balance indicates moderate optimism about the stock prospects.
From a valuation perspective, AMGN trades at a trailing P/E of 27.3x and forward P/E of 17.3x. The forward PEG ratio of 5.89 reflects a premium valuation. Analysts expect EPS to grow +57.7% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $539.67, with bear and bull scenarios of $243.38 and $684.35 respectively. Model confidence stands at 63/100, reflecting moderate uncertainty in projections.
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Start ComparisonAMGN's consensus price target is $347, -10.6% below the current price of $388.16. The 37 analysts tracking AMGN see downside risk at present valuations.
AMGN has a consensus rating of "Buy" based on 37 Wall Street analysts. The rating breakdown is predominantly bullish, with 22 Buy/Strong Buy ratings. The consensus 12-month price target of $347 implies -10.6% downside from current levels.
With a forward P/E of 17.33x, AMGN trades at a relatively low valuation. The consensus target of $347 implies -10.6% move, suggesting the market may be pricing in risks.
The most bullish Wall Street analyst has a price target of $432 for AMGN, while the most conservative target is $185. The consensus of $347 represents the median expectation. Our quantitative valuation model projects a bull case target of $684 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
AMGN is heavily covered by Wall Street, with 37 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 22 have Buy ratings, 12 recommend Hold, and 3 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month AMGN stock forecast based on 37 Wall Street analysts shows a consensus price target of $347, with estimates ranging from $185 (bear case) to $432 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $540, with bear/bull scenarios of $243/$684.
Our quantitative valuation model calculates AMGN's fair value at $540 (base case), with a bear case of $243 and bull case of $684. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 63/100.
AMGN trades at a forward P/E ratio of 17.3x based on next-twelve-months earnings estimates compared to a trailing P/E of 27.3x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Analysts are cautious on AMGN, with 3 Sell ratings and a price target of $347 (-10.6% from current price). The "Buy" consensus suggests careful evaluation before buying. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
AMGN analyst price targets range from $185 to $432, a 71% wide spread indicating significant analyst disagreement. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $347 consensus represents the middle ground. Our model's $243-$684 range provides an independent fundamental perspective.