Neutral initiation from a low-accuracy firm provides minimal new information. With earnings in 8 days and high short interest, price action will likely be driven by fundamentals, not this call. Avoid positioning based on this trigger.
Price Chart
Executive Summary
Canaccord Genuity initiates Amgen (AMGN) at Hold with a $366 price target, implying 4.5% upside from $350.16. The firm's accuracy is below average at 47% (722/1538), and its call is below the consensus Buy rating (62% Buy/Hold). The mean price target is $352.03, with Canaccord’s $366 above median. AMGN reports earnings in 8 days. EPS estimates are stable, with slight downward revisions over 30 days. Institutional activity shows divergence: Renaissance Technologies trimmed, Two Sigma doubled. Short ratio is elevated at 57.4%. Bottom line: low-conviction initiation from a below-average firm ahead of earnings limits impact.
Impact Score
Consensus & Targets
Of 29 analysts, 21 rate AMGN as Buy (72.4%), 19 Hold (65.5%), 2 Sell, and 1 Strong Sell. Note: totals exceed 100% due to rounding. The consensus leans Buy, with a clear majority favoring positive sentiment. Canaccord’s Hold rating is below consensus and aligns with only 65.5% of analysts.
The consensus mean price target is $352.03, median $351, range $200–$432. At $350.16, shares imply 0.5% upside to the mean. Canaccord’s $366 target is 4.0% above the mean and 4.3% above the median, positioning it above average but not outlier. Piper Sandler’s $432 target remains the high.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-04-21 | Canaccord Genuity | initiate | Hold | $366.00 |
| 2026-04-13 | UBS | maintain | Buy | $400.00 |
| 2026-04-10 | Morgan Stanley | maintain | Equal-Weight | $326.00 |
| 2026-04-09 | Guggenheim | maintain | Neutral | $351.00 |
| 2026-04-08 | Cantor Fitzgerald | reiterate | Neutral | $350.00 |
| 2026-03-10 | Jefferies | initiate | Hold | $350.00 |
| 2026-02-20 | Barclays | initiate | Equal-Weight | $350.00 |
| 2026-02-19 | Wells Fargo | maintain | Equal-Weight | $375.00 |
| 2026-02-18 | Piper Sandler | maintain | Overweight | $432.00 |
| 2026-02-12 | Freedom Broker | downgrade | Hold | $375.00 |
Over the past 30 days, there has been 1 upgrade and 0 downgrades. EPS revisions show modest downward pressure: for current year (0y), 4 revisions up vs 6 down; for +1y, 8 up vs 6 down. Near-term estimates (0q, +1q) show slight trimming, indicating softening sentiment despite stable current estimates.
Firm Track Record — Canaccord Genuity
Canaccord Genuity accuracy: 47% on 1538 calls | avg return: 3%
Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 13 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| BMO Capital | 100% | 3/3 | 7.1% | top tier |
| Truist Securities | 100% | 3/3 | 4.8% | top tier |
| Mizuho | 100% | 2/2 | 4% | top tier |
| RBC Capital | 88% | 7/8 | 4.9% | top tier |
| Morgan Stanley | 86% | 6/7 | 6.9% | top tier |
| UBS | 86% | 6/7 | 7% | top tier |
| B of A Securities | 80% | 4/5 | 1% | top tier |
| Wells Fargo | 75% | 3/4 | 11.9% | top tier |
| Piper Sandler | 67% | 4/6 | 8% | top tier |
| TD Cowen | 67% | 2/3 | 6.4% | top tier |
Canaccord Genuity has a 47% accuracy rate (722 correct out of 1538 rated stocks), below the average firm. Their average return on rated stocks is +3%. Among 13 firms covering AMGN, 8 are top-tier (80–100% accuracy), including Morgan Stanley (86%, 6.9% avg return) and UBS (86%, 7%). Canaccord ranks near the bottom in reliability.
Earnings Estimates
Next earnings: Apr 29, 2026
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| 0q | $4.79 | $4.17 — $6.15 | $8.6B | ↑6 ↓0 |
| +1q | $5.75 | $4.65 — $6.23 | $9.5B | ↑3 ↓0 |
| 0y | $22.35 | $21.58 — $23.18 | $37.8B | ↑5 ↓0 |
| +1y | $23.29 | $20.80 — $25.04 | $38.7B | ↑5 ↓0 |
Cross-Platform Signals
Institutional activity is mixed: Two Sigma increased position by 835.1%, while Renaissance Technologies exited and then trimmed further. Norges Bank entered and exited. No insider trades reported. Congressional trade: Rep. David Taylor (R) sold $1k–$15k on Feb 26. Short interest is extremely high at 57.4% of float, suggesting elevated bearish positioning ahead of earnings. Analyst sentiment (bullish) diverges from short and some institutional signals (bearish).
Investment Themes
Documents Analyzed
Report based on filing metadata.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | ANALYST-DOWNGRADE | $382.47 $379.78 | ▲ +0.70% | ▲ +0.20% | $403.04 (−5.38%) |
Sep 8, 2026 24d ago | ANALYST-DOWNGRADE | $393.17 $375.65 | ▲ +4.46% | ▲ +3.34% | $403.04 (−2.51%) |
Aug 14, 2026 7w ago | Court Ruling | $415.21 $439.33 | ▲ +5.81% | ▲ +7.18% | $403.04 (−2.93%) |
Aug 13, 2026 7w ago | Insider Cluster | $415.21 $439.33 | ▲ +5.81% | ▲ +7.18% | $403.04 (−2.93%) |
Aug 11, 2026 7w ago | Court Ruling | $414.30 $425.28 | ▲ +2.65% | ▲ +3.05% | $403.04 (−2.72%) |
Aug 7, 2026 8w ago | Insider Cluster | $417.20 $419.38 | ▲ +0.52% | ▲ +0.57% | $403.04 (−3.39%) |
Aug 7, 2026 8w ago | Insider Cluster | $417.20 $419.38 | ▲ +0.52% | ▲ +0.57% | $403.04 (−3.39%) |
Aug 7, 2026 8w ago | Insider Cluster | $417.20 $419.38 | ▲ +0.52% | ▲ +0.57% | $403.04 (−3.39%) |
Aug 4, 2026 8w ago | GOVT-CONTRACT | $390.02 $414.30 | ▲ +6.23% | ▲ +6.33% | $403.04 (+3.34%) |
Jul 31, 2026 9w ago | 8-K | $378.87 $417.20 | ▼ −10.12% | ▼ −8.09% | $403.04 (−6.38%) |
US Market Status
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