Goldman Sachs analyst Salveen Richter maintained a Buy rating on Amgen today and set a price target of $425.00.
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Salveen Richter has given his Buy rating due to a combination of factors tied to Amgen’s solid execution and expanding growth drivers. The company delivered first-quarter revenue broadly in line with expectations and exceeded earnings forecasts, driven by strong performance from key products such as Repatha, Imdelltra, and Uplizna, as well as disciplined operating expense control.
Richter also points to management’s modestly higher long-term guidance and increasing visibility in Amgen’s cardiometabolic, cardiovascular, rare disease, and oncology portfolios as reasons for confidence. The expanding Phase 3 program for obesity candidate MariTide, continued momentum in Repatha supported by guideline changes, and upside potential from newer rare disease launches support a constructive multi-year outlook, justifying an upward revision of the price target from $415 to $425 and the maintained Buy recommendation.
According to TipRanks, Richter is a 4-star analyst with an average return of 10.6% and a 45.56% success rate. Richter covers the Healthcare sector, focusing on stocks such as Biogen, Amgen, and Regeneron.
In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $432.00 price target.