JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Investing.com - Bernstein SocGen Group lowered its price target on Amgen (NASDAQ:AMGN) to $335.00 from $350.00 on Thursday, while maintaining an Outperform rating on the stock. According to InvestingPro data, the stock currently trades at a P/E ratio of 23.5x, with analysts’ targets ranging from $185 to $405.
The price target reduction comes despite Amgen reporting second-quarter earnings last week that beat expectations on both revenue and earnings per share, prompting the company to raise its full-year guidance. The company maintains strong financials with a 69.4% gross profit margin and an overall "GOOD" financial health score from InvestingPro.
Bernstein SocGen cited reduced confidence in MariTide’s probability of achieving an "optimal target product profile" as the primary reason for the price target cut.
The research firm noted that while Amgen had a "relatively successful quarter," a significant portion of its performance was attributed to inventory stocking rather than organic growth.
The analysts also mentioned an "updated multiple" in their valuation model, reflecting their view that investors "should pay" less for the stock given these concerns.
In other recent news, Amgen reported impressive financial results for the second quarter of 2025, surpassing analysts’ expectations. The company achieved an earnings per share of $6.02, outperforming the forecasted $5.26, and reported revenue of $9.18 billion, exceeding the anticipated $8.92 billion. RBC Capital raised its price target for Amgen to $330, maintaining an Outperform rating due to the company’s strong earnings and the performance of its rare disease portfolio, including products like Tepezza, Krystexxa, and Uplizna. TD Cowen reiterated its Buy rating with a price target of $389, noting Amgen’s better-than-expected revenue and earnings driven by its growth portfolio and higher operating margins.
BMO Capital also reiterated an Outperform rating with a price target of $335, citing strong commercial execution across Amgen’s product portfolio, including Otezla and the Horizon product line. Cantor Fitzgerald maintained a Neutral rating with a price target of $305, highlighting robust sales from Evenity and Imdelltra. These developments reflect Amgen’s strong commercial performance and strategic execution, as noted by various analyst firms.
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