Amgen (AMGN) Gets Price Target Cut at Piper Sandler Despite Long-Term Growth Optimism

Vardah Gill

Mon, May 18, 2026 at 5:10 PM EDT 2 min read

Amgen Inc. (NASDAQ:AMGN) is included among the 10 Best “Dogs of the Dow” Stocks to Buy for the Rest of 2026.

On May 14, Piper Sandler lowered its price recommendation on Amgen Inc. (NASDAQ:AMGN) to $427 from $432. It reiterated an Overweight rating on the stock. The firm said that, from a broader business perspective, it still sees potential upside to consensus revenue estimates not only for 2026 but also for 2027. Analysts noted that this outlook is less tied to the company’s core commercial products and more driven by continued momentum in the rare disease segment, especially Uplizna. Piper also pointed to Tepezza as a possible long-term growth driver following strong Phase III results for its subcutaneous formulation.

A week earlier, on May 7, Freedom Broker upgraded Amgen to Buy from Hold and kept its price target unchanged at $375.The firm said Amgen’s first-quarter results were “fully in line with our expectations, although the quarter is seasonally weak.” Analysts added that it is “still too early to draw firm conclusions about the earnings trajectory for the full year,” though the company’s main growth drivers remain in place. Following the stock’s decline in the first quarter and the steady performance of Amgen’s innovative portfolio, which has helped offset weakness in mature products, the firm decided to upgrade the shares.

Amgen Inc. (NASDAQ:AMGN) is a biotechnology company that discovers, develops, manufactures, and delivers medicines targeting serious diseases. The company focuses on areas with high unmet medical needs and uses its scientific expertise to develop treatments aimed at improving patients’ lives. It operates through the human therapeutics segment.

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