Analyst Geoff Meacham from Citi maintained a Hold rating on Amgen and keeping the price target at $315.00.
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Geoff Meacham has given his Hold rating due to a combination of factors tied to Amgen’s mixed operating outlook. He acknowledges that fourth-quarter revenue and earnings exceeded expectations thanks to rapid uptake in newer volume drivers such as Repatha, Evenity, Tezspire, and Uplizna; however, the sharp deterioration in the denosumab franchise, with Prolia and Xgeva showing accelerating declines, limits confidence that the growth engines can fully counterbalance legacy erosion.
Geoff Meacham also notes that management’s 2026 guidance calls for only low single-digit gains in sales and earnings, suggesting Amgen will lag faster-growing biopharma peers unless business development accelerates meaningfully, while ongoing scrutiny of MariTide tolerability and the FDA’s withdrawal request for Tavneos introduce additional execution risks. Given these offsetting dynamics and his view that the shares are likely to deliver a negative single-digit return versus Citi’s broader coverage, he concludes that holding the stock rather than buying aligns with the risk-reward profile at this stage.
According to TipRanks, Meacham is a 5-star analyst with an average return of 7.5% and a 57.77% success rate. Meacham covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Bristol-Myers Squibb, and Arcellx Inc.