Matthew C. Busch, who serves as vice president of finance and chief accounting officer at Amgen Inc., sold 1,000 shares of the company’s common stock on February 19, 2026. The shares traded at $375.79 each, resulting in a total transaction value of $375,790. Following the sale, Busch holds 3,423 shares directly in Amgen.
The insider transaction coincides with an active period of analyst attention after Amgen reported strong fourth-quarter results and provided fiscal year 2026 guidance that exceeded both Guggenheim’s expectations and consensus forecasts.
Guggenheim responded to the quarterly report by raising its price target on Amgen to $347 while keeping a Neutral rating. That move sits alongside differing stances from other firms covering the stock.
Freedom Capital Markets shifted its view from Buy to Hold but increased its price target to $375, citing what it described as robust core growth drivers and positive momentum in Amgen’s newer products. Piper Sandler raised its price target to $432 and retained an Overweight rating after talks with Amgen senior management regarding potential expansion opportunities for particular treatments.
TD Cowen reiterated a Buy rating with a $420 price target, highlighting the promise of dazodalibep for treating Sjogren’s Syndrome based on positive Phase 2 trial data. In contrast, Barclays began coverage with an Equalweight rating and set a $185 price target, emphasizing that the Phase 3 MARITIME trial results remain a long way off.
These developments illustrate a range of analyst perspectives on Amgen’s valuation and near-term catalysts. While several firms raised price targets and pointed to operational momentum and pipeline potential, at least one firm initiated coverage conservatively given the timing of pivotal trial data. The mix of upgrades, reiterations, a downgrade, and a new coverage initiation underscores divergent views on risk versus reward for Amgen shares following the company’s recent reporting and guidance.
Clear summary
Amgen finance chief accounting officer Matthew C. Busch sold 1,000 shares on February 19, 2026, for $375.79 apiece, totaling $375,790 and leaving him with 3,423 shares. The trade occurs amid strong fourth-quarter results and fiscal 2026 guidance that beat expectations, prompting varying analyst reactions including raised price targets, a downgrade, and a conservative new coverage entry.
Key points
- Insider transaction: Matthew C. Busch sold 1,000 Amgen shares on February 19, 2026, for $375.79 each, netting $375,790; post-sale ownership is 3,423 shares.
- Company performance: Amgen posted strong Q4 results and provided fiscal 2026 guidance above Guggenheim’s and consensus expectations.
- Analyst divergence: Price targets and ratings vary widely - Guggenheim $347 (Neutral); Freedom Capital Markets $375 (Hold, downgraded from Buy); Piper Sandler $432 (Overweight); TD Cowen $420 (Buy); Barclays $185 (Equalweight, new coverage).
Risks and uncertainties
- Analyst disagreement on valuation and outlook creates uncertainty for investors assessing Amgen’s near-term trajectory and relative valuation - impacts healthcare and equities markets.
- Timelines for pivotal studies, notably the Phase 3 MARITIME trial, are distant, introducing timing risk for potential clinical catalysts - impacts biotech and pharmaceutical sectors.
- Mixed analyst actions, including a downgrade and new conservative coverage despite raised targets elsewhere, indicate differing interpretations of the company’s growth momentum and pipeline visibility - relevant to investors in healthcare and growth-oriented equities.