Wells Fargo Boosts Amgen Price Target to $390, Citing Expansion Opportunities

Wells Fargo raised its price target on Amgen (AMGN) to $390 from $375 and maintained an Equal Weight rating. The firm highlighted emerging therapies such as CD20, BAFF/APRIL, and next-generation complement inhibitors as drivers that could expand the generalized myasthenia gravis market more than threefold over the next decade. Jefferies initiated coverage on Amgen with a Hold rating and a $350 price target, noting the stock has gained about 35% over the past six months.