Wells Fargo Raises its Price Target on Amgen (AMGN) to $390 from $375

Amgen Inc. (NASDAQ:AMGN) is one of the 10 Most Profitable S&P 500 Stocks to Buy Now.

On March 19, 2026, Wells Fargo raised the price target on Amgen Inc. (NASDAQ:AMGN) to $390 from $375 and maintained an Equal Weight rating. The firm highlighted emerging therapies such as CD20, BAFF/APRIL, and next-generation complement inhibitors as drivers that could expand the generalized myasthenia gravis market more than threefold over the next decade, with potential to reach $15B in U.S. sales and $20B globally by 2036. Wells Fargo said Amgen, alongside peers like Vertex and Regeneron, could benefit from this expansion, with upside to current Street expectations.

On March 10, 2026, Jefferies initiated coverage on Amgen with a Hold rating and a $350 price target, noting the stock has gained about 35% over the past six months. Jefferies said strong commercial execution and easing regulatory concerns have supported the move, leaving shares appearing fairly valued at current levels.

Wells Fargo Raises its Price Target on Amgen (AMGN) to $390 from $375

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Last month, Amgen reported Q4 adjusted EPS of $5.29, above the $4.76 consensus estimate, on revenue of $9.9B versus $9.45B expected. CEO Robert Bradway said the company delivered “strong performance” in 2025, with double-digit growth in both revenue and earnings, adding that Amgen is entering 2026 with momentum across its portfolio and a focus on advancing new therapies.

Amgen Inc. (NASDAQ:AMGN) develops and commercializes therapeutics across a range of disease areas globally.

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