Can $AMGN Break Through $385? Biotech Giant Surges 4.49%
$Amgen(AMGN)$
Amgen Inc. (AMGN) Surges +4.49%: Biotech Giant Tests All-Time High at $385, Bullish Momentum Intact
Latest Close Data
Closed at $384.32 (02/05/2026), up +4.49% (+$16.52). Price is just $0.80 below the 52-week (and intraday) high of $385.12.
Core Market Drivers
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The stock continues its strong uptrend, driven by robust demand for its key drugs and a stable biotechnology sector.
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Strong institutional holding patterns (Vanguard, BlackRock) provide underlying support. No major negative catalysts were reported, allowing the momentum to continue.
Technical Analysis
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Volume of 3.84M shares is slightly above average (VR=1.05), confirming the breakout move.
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MACD (DIF: 9.47, DEA: 5.79, MACD: 7.35) shows a strong bullish expansion and accelerating positive momentum.
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RSI(6) at 84.98 is deeply overbought, signaling a powerful but potentially near-term extended rally.
Key Price Levels
* Immediate Pivot / Strong Resistance: $385.12 (52-week/All-Time High). A decisive close above is needed for the next leg up.
* Primary Support: $368.90 (today's low). This level now acts as the first line of defense for the bulls.
Valuation Perspective
Forward P/E of 17.20 is above its historical average of 14.61, indicating the market is pricing in strong future growth. TTM P/E is 27.01, reflecting its premium, large-cap biotech status.
Analyst Targets
28 analysts have an average price target of $345.43 (below current price), with a high of $425.00. Sentiment is bullish with 4 Strong Buy, 13 Buy, 15 Hold, 2 Underperform, and 1 Sell ratings.
Weekly Outlook
Expect consolidation near the $385 all-time high. A successful breakout could target the $390-$400 zone. Failure to hold above $368.90 could trigger a pullback towards the $360-$355 support area.
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