Goldman Sachs Trims Amgen (AMGN) Valuation but Sticks with Buy Rating

With a net profit margin of 20.96%, Amgen Inc. (NASDAQ:AMGN) is included among the 10 Most Profitable Dividend Stocks to Invest In Now

Goldman Sachs Trims Amgen (AMGN) Valuation but Sticks with Buy Rating

On June 5, Goldman Sachs lowered its price recommendation on Amgen Inc. (NASDAQ:AMGN) to $389 from $425. It reiterated a Buy rating on the stock. The firm adjusted its model after Amgen disclosed during its first-quarter earnings report that an IRS audit covering the 2016-2018 period had escalated into a formal dispute. Amgen also received a notice of proposed adjustment indicating that the IRS is seeking changes consistent with prior cases, the analyst noted in a research report.

Earlier, on May 14, Piper Sandler reduced its price goal on Amgen to $427 from $432. It maintained an Overweight rating on the shares. From a broader perspective, the firm still sees potential for revenue growth above consensus expectations in both 2026 and 2027. That outlook is driven less by the company’s established commercial products and more by continued momentum in its rare disease business, particularly Uplizna. Piper Sandler also views Tepezza as a potentially stronger growth driver following encouraging Phase III results for its subcutaneous formulation.

Amgen Inc. (NASDAQ:AMGN) is a biotechnology company that discovers, develops, manufactures, and delivers medicines aimed at treating some of the most challenging diseases. The company focuses on areas with significant unmet medical needs and uses its scientific expertise to develop treatments designed to improve patients’ lives.

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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