Cantor Fitzgerald reiterates Amgen stock Neutral rating at $400

Investing.com reports that Cantor Fitzgerald has maintained a Neutral rating on Amgen Inc. (AMGN) with a price target of $400.00. Currently trading at $403, the stock is slightly above the target, boasting a P/E ratio of 25.1 and a PEG ratio of 0.79. Cantor Fitzgerald attributed their assessment to the company's solid commercial execution, citing revenue growth of 9.1% over the past year to $38.1 billion and a gross profit margin of 71.9%.

Recent positive data from Lp(a) and Sjogren's trials were highlighted, with Amgen regaining its consensus long position among investors. The firm noted that the company's year-end 2026 catalyst calendar appeared relatively quiet. According to InvestingPro analysis, Amgen's financial health is rated GREAT, suggesting the stock is undervalued based on its Fair Value assessment.

The platform offers further insights through Pro Research Reports for AMGN and 1,400+ other US equities. Separately, Amgen Inc. announced successful results from its OASIZ 301 Phase 3 trial for dazodalibep, treating moderate-to-severe systemic Sjögren's disease. The trial met its primary endpoint, showing significant improvements in systemic disease activity within the first four weeks, with sustained progress through Week 48.

Following these results, Oppenheimer upgraded its rating to Outperform with a $450 price target, while Jefferies raised its target to $410, maintaining a Hold rating. Canaccord Genuity also kept a Hold rating with a $384 target, citing the drug's promising outcomes. UBS, however, lowered its price target to $430 and maintained a Buy rating but expressed concerns about the trial.

These developments reflect a mix of optimism and caution among analysts regarding Amgen's future prospects.