Amgen Inc. (AMGN) Price Target Raised to $303 After Q1 Model Update

We recently compiled a list of the 10 Best Weight Loss Drug Stocks to Buy in 2026. Amgen Inc. (NASDAQ:AMGN) is one of the best weight loss drugs on this list.

TheFly reported on June 16 that Mizuho analyst Salim Syed increased the price target for AMGN to $303 from $295 while maintaining a Neutral rating on the shares. The adjustment followed an update to the firm’s valuation model after reviewing AMGN’s first quarter results.

In separate news, on June 7, Amgen Inc. (NASDAQ:AMGN) presented new clinical findings at the American Diabetes Association (ADA) 86th Scientific Sessions, highlighting its efforts to address cardiovascular risks among people with cardiometabolic conditions. The company shared Phase 3 VESALIUS-CV subgroup data evaluating Repatha in 6,002 high-risk diabetes patients with elevated LDL-C levels who had not previously experienced a heart attack or stroke.

Amgen Inc. (AMGN) Price Target Raised to $303 After Q1 Model Update

The analysis showed that Repatha, used alongside statins or other LDL-C-lowering treatments, lowered the likelihood of major cardiovascular events, including coronary heart disease death, heart attack, or ischemic stroke, by 29% compared with placebo. The treatment also demonstrated a 21% reduction in a broader cardiovascular outcome that included ischemia-related revascularization. Patients receiving Repatha achieved a median LDL-C level of 45 mg/dL, compared with 106 mg/dL among those receiving placebo.

Amgen Inc. (NASDAQ:AMGN) is a global biotech company gaining investor attention in the weight-loss market through MariTide, an experimental obesity drug in Phase 3 trials. With potential monthly dosing and strong weight-loss results, MariTide could become a major competitor in the growing obesity treatment space.

While we acknowledge the risk and potential of AMGN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMGN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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