Amgen price target lowered to $304 from $329 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Amgen (AMGN) to $304 from $329 and keeps an Equal Weight rating on the shares. The firm expects many of the policy overhangs that dominated the biopharma conversation this year to wane in 2026, bringing the focus back to fundamentals, the analyst tells investors in a 2026 outlook note for the group.