Movement Alert|Amgen Rises 3.64% in Regular Trading, Multiple Brokerages Raise Target Prices Ahead of Earnings

Market Focus
Jul 28

On July 28, Amgen rose 3.64% in regular trading, trading at $396.1/share, with turnover of $317 million.

On the news front, Barclays raised its target price on Amgen from $350 to $360, maintaining an Equal Weight rating. This follows a series of recent upgrades including Goldman Sachs ($427, Buy), UBS ($420, Buy), and Truist Securities ($340). The FactSet consensus average target stands at approximately $357.48 with an overall Overweight rating.

Additionally, a pre-earnings preview showed market consensus expects Q2 revenue of approximately $9.425 billion, up 5.44% year-over-year, with adjusted EPS of $5.62, up 6.20% year-over-year. Amgen is scheduled to report results on August 4 after market close.

The broader biotechnology sector also showed notable strength, with Incyte up 4.64%, Alnylam Pharmaceuticals up 4.09%, AbbVie up 3.66%, Gilead Sciences up 3.33%, and Vertex Pharmaceuticals up 2.11%, reflecting a clear sector-wide uplift.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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