Amgen Stock Price Expected to Rise, Analyst Says

Royal Bank Of Canada lifts price target on Amgen shares

Apr. 7, 2026 at 1:57pm

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A cinematic close-up of complex, interlocking mechanical components in muted tones of steel, copper, and chrome, conceptually representing the inner workings and technological sophistication of a major pharmaceutical company's research and manufacturing operations.Amidst rising analyst confidence, the intricate machinery powering Amgen's drug development and production facilities reflects the company's technological prowess and growth potential.Thousand Oaks Today

Research analysts at Royal Bank Of Canada have increased their price target on Amgen (NASDAQ:AMGN) stock from $360.00 to $370.00, maintaining an "outperform" rating on the medical research company's shares. The new price target suggests a potential upside of 9.36% from Amgen's previous closing price.

Why it matters

Amgen is a major biotechnology company with a focus on developing and commercializing human therapeutics to address serious illnesses. Positive analyst sentiment and an increased price target could signal growing confidence in the company's future performance and product pipeline.

The details

In a research note issued on Tuesday, the Royal Bank Of Canada analysts boosted their price target on Amgen shares, citing the company's strong fundamentals and growth prospects. The new $370.00 price target represents an increase from the previous $360.00 target. The analysts maintained their "outperform" rating on Amgen stock.

  • The research note was published on April 7, 2026.

The players

Royal Bank Of Canada

A major Canadian financial institution that provides various banking and financial services, including equity research coverage of public companies like Amgen.

Amgen

A global biotechnology company that focuses on discovering, developing, manufacturing, and delivering human therapeutics to address serious illnesses.

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What’s next

Investors will be closely watching Amgen's upcoming financial results and any further updates from analysts regarding the company's outlook and valuation.

The takeaway

The increased price target from a major research firm suggests growing optimism about Amgen's business prospects, which could signal potential upside for the stock if the company continues to execute on its strategic priorities.