Amgen Stock - Goldman Sachs trims target after obesity pipeline update

Amgen stock draws fresh analyst scrutiny after its latest obesity-drug pipeline update. Goldman Sachs has modestly cut its price target while maintaining a positive stance, as investors weigh the company’s experimental weight-loss portfolio against intensifying GLP-1 competition.

Edited by ad hoc news Sector & Peer-Group Desk. Verified prior to publication on 06/19/2026, 11:10 UTC. Details in the imprint.

Amgen (US0311621009) remains under the microscope this week as obesity-drug data and fresh analyst commentary reshape expectations. Goldman Sachs has trimmed its price target while keeping a Buy rating after the company’s most recent update on its weight-loss pipeline, according to a Goldman research note dated 06/18/2026. Barron's summary of the Goldman Sachs update

What Goldman Sachs changed

Goldman Sachs has reiterated its Buy rating on Amgen but cut its 12-month price target to $360 from $370, citing a more conservative risk-adjusted outlook for the company’s obesity candidates after recent phase 2 data disclosures. TipRanks synopsis of the Goldman Sachs note

The bank still sees Amgen’s experimental obesity portfolio, including the oral small-molecule AMG 786 and injectable AMG 133, as a potential multi-billion-dollar opportunity, but it now builds in a slower commercial ramp against established GLP-1 incumbents from Eli Lilly and Novo Nordisk.

Weekly review and sector frame

Across the week, Amgen shares have moved broadly in line with large-cap US biotech peers, with the stock edging lower by around 1% on Thursday as investors recalibrated expectations for obesity and inflammation revenues in the early 2030s. MarketWatch price data for Amgen

Within the Standard & Poor's 500 index health-care cohort, Amgen continues to trade at a discount to faster-growing GLP-1 players, but its diversified portfolio and robust free cash flow keep it grouped with defensive large-cap biopharma names favored for dividends and buybacks.

How the company makes money

Amgen generates the bulk of its revenue from biologic therapies in oncology, inflammation and bone health, with key products including Enbrel for rheumatoid arthritis, Prolia for osteoporosis, and Repatha for lowering LDL cholesterol in high-risk cardiovascular patients.

Where the stock trades today

Amgen shares (US0311621009) trade on the Nasdaq at $337.60 as of 06/18/2026, 16:00 Eastern Time.

Key facts on Amgen stock

• Company: Amgen Inc.
• ISIN: US0311621009
• WKN: 867900
• Ticker: AMGN
• Venue: Nasdaq
• Price (as of 06/18/2026, 16:00 Eastern Time): 337.60 USD
• Market cap: 181,000,000,000 USD (as of 06/18/2026)
• Sector / Industry: Health Care / Biotechnology
• Index membership: S&P 500
• Next earnings date: 08/01/2026

This article was AI-assisted and editorially reviewed. Price and company data without warranty; prices and dates may change at short notice. No investment advice, no buy or sell recommendation. Trading securities involves risk up to total loss of capital.