Bank of America Securities maintained an Underperform rating on Amgen Inc. (AMGN) on February 04, 2026. The AMGN analyst rating highlights BofA’s view that near-term catalysts have shifted, citing a pelacarsen readthrough move to mid-2026. That view sits against a recent -7.64% decline in Amgen’s share price, equal to $-27.99 since the note. Investors should read the rating as a firm-specific take from a major house, not a consensus downgrade or a new price target. For live context, see BofA’s note on StreetInsider source.
Bank of America action and timing
Bank of America Securities maintained Underperform on Amgen Inc on February 04, 2026. The firm emphasized a shift in pelacarsen readthrough to mid-2026 as the key catalyst timing change. The note did not add a new price target or upgrade the stock.
What the AMGN analyst rating means for investors
An AMGN analyst rating of Underperform from BofA signals a cautious stance from a major institutional desk. Investors should treat this as a single prominent opinion rather than the whole market view. The rating suggests BofA expects below-benchmark returns versus peers or the S&P 500 until catalysts reappear.
Catalyst focus: pelacarsen readthrough shifted to mid-2026
BofA’s note centers on trial-readthrough timing for pelacarsen and how the shifted timeline compresses near-term upside. This timing change can delay revenue inflection and keep volatility higher. For drug developers like Amgen, delayed readthrough often reduces near-term conviction among growth-oriented analysts.
Price reaction and lack of new price target
The analyst action coincided with a -7.64% price movement since the note, equal to $-27.99. BofA did not publish a fresh price target in the February 04, 2026 note, so the market moved on the ratings signal and catalyst timing alone. Traders should watch liquidity and volume when interpreting short-term moves.
Historical analyst coverage context for Amgen Inc.
Amgen has historically received mixed coverage from the analyst community, ranging from Buy/Outperform calls to Hold ratings based on pipeline and margin outlooks. BofA’s Underperform is a more cautious stance versus many peers, but it is not an isolated data point. Investors should compare this note with other analysts’ views and consensus data.
Meyka AI view and the current stock grade
Meyka AI rates AMGN with a grade of B+. This grade factors in S&P 500 benchmark comparison, sector performance, financial growth, key metrics, and analyst consensus. Meyka AI-powered market analysis highlights that a B+ signals solid fundamentals with some near-term catalyst risk. These grades are not guaranteed and are not investment advice.
Final Thoughts
Bank of America’s decision to maintain an Underperform rating on Amgen Inc. on February 04, 2026 refocuses investor attention on timing for pipeline catalysts, notably the pelacarsen readthrough now expected in mid-2026. The AMGN analyst rating from BofA did not include a new price target, and the market registered a -7.64% move equal to $-27.99 since the note. For investors, the key takeaway is to separate catalyst timing risk from long-term fundamentals. Amgen’s pipeline and cash flow remain relevant, but delayed readthrough compresses near-term upside and raises the bar for positive surprise. Compare BofA’s view with other analyst notes and consensus data before adjusting positions. Use Meyka AI’s real-time tracking and the Meyka grade as one input among many. These observations are market analysis, not personal financial advice.
FAQs
What specifically changed in the AMGN analyst rating on February 04, 2026?
Bank of America Securities maintained an Underperform rating on Amgen Inc. on February 04, 2026, citing a shift of pelacarsen readthrough to mid-2026. The note did not provide a new price target.
How should investors interpret an Underperform from BofA for AMGN?
An Underperform suggests BofA expects Amgen to lag the market or peers in the near term. Investors should weigh the note against other analysts and the company’s fundamentals before changing a long-term position.
Did the BofA note include an AMGN price target?
No. The February 04, 2026 Bank of America note maintained Underperform but did not publish a fresh price target, so market moves reflected catalyst timing and sentiment.
How does Meyka AI rate AMGN and what does that grade mean?
Meyka AI rates AMGN with a grade of B+. The grade factors S&P 500 comparison, sector performance, growth, key metrics, and analyst consensus. Grades are informational and not financial advice.
Disclaimer:
Stock markets involve risks. This content is for informational purposes only. Analyst ratings are opinions and not guarantees of future performance. Past performance does not guarantee future results. Meyka AI PTY LTD provides market analysis and data insights, not financial advice. Always conduct your own research and consider consulting a licensed financial advisor.
