Piper Sandler Lifts PT on Amgen (AMGN) to $342 From $328, Keeps an Overweight Rating

Amgen Inc. (NASDAQ:AMGN) is one of the top most undervalued low volatility stocks to buy now. On August 25, Piper Sandler raised the firm’s price target on Amgen Inc. (NASDAQ:AMGN) to $342 from $328 while keeping an Overweight rating on the shares.

The rating update came after the company’s quarterly results, with the firm stating that Amgen Inc. (NASDAQ:AMGN) is well-positioned to go beyond its loss of exclusivity for denosumab, supported by continued strong execution across its commercial portfolio.

The firm added that Amgen Inc. (NASDAQ:AMGN) is experiencing continued pipeline advancement, which shows a strong case for multiple expansion from an EV/2026E EBITDA of around 13-times.

Amgen Inc. (NASDAQ:AMGN) is a biotechnology company that discovers, develops, manufactures, and markets human therapeutics. It delivers new therapies for patients with complex cancers, especially in areas with significant unmet needs.

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Disclosure: None. This article is originally published at Insider Monkey.