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Amgen ( (AMGN) ) has issued an update.
On February 17, 2026, Amgen Inc. issued and sold a total of $4 billion in senior unsecured notes across four tranches maturing between 2031 and 2056, carrying coupons ranging from 4.200% to 5.650%. After underwriters’ discounts and estimated expenses, the company received net proceeds of approximately $3.96 billion, with interest on all tranches payable in cash semi-annually starting August 19, 2026.
The notes rank pari passu with Amgen’s existing and future senior unsecured debt, are senior to its subordinated indebtedness, and are effectively subordinated to obligations at its subsidiaries and to any secured debt to the extent of the related collateral. Holders are protected by a change-of-control provision allowing them to require Amgen to repurchase their notes at 101% of principal plus accrued interest if a defined triggering event occurs, shaping the company’s capital structure and creditor protections going forward.
The most recent analyst rating on (AMGN) stock is a Hold with a $375.00 price target. To see the full list of analyst forecasts on Amgen stock, see the AMGN Stock Forecast page.
Spark’s Take on AMGN Stock
According to Spark, TipRanks’ AI Analyst, AMGN is a Outperform.
AMGN scores positively overall, led by strong technical strength and supportive earnings-call outlook with defined 2026 guidance and broad product momentum. The main constraint is financial risk from high leverage and a recent decline in free cash flow, while valuation is reasonable but not cheap given the ~23.8 P/E, partially offset by a ~2.6% dividend yield.
To see Spark’s full report on AMGN stock, click here.
More about Amgen
Amgen Inc. is a global biopharmaceutical company that develops, manufactures, and markets innovative human therapeutics, with a focus on areas such as oncology, hematology, cardiovascular disease, and inflammation. The company generates revenue primarily from branded prescription medicines and leverages large-scale biologics manufacturing to compete in the global pharmaceutical and biotechnology markets.
Average Trading Volume: 2,920,329
Technical Sentiment Signal: Buy
Current Market Cap: $201.3B
See more insights into AMGN stock on TipRanks’ Stock Analysis page.