Amgen (NASDAQ:AMGN) Posts Earnings Results, Beats Estimates By $0.67 EPS

Amgen (NASDAQ:AMGN) announced its earnings results on Tuesday. The medical research company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.62 by $0.67, Zacks reports. The business had revenue of $10.05 billion for the quarter, compared to analysts’ expectations of $9.43 billion. Amgen had a return on equity of 132.73% and a net margin of 22.95%.The firm’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.02 earnings per share. Amgen updated its FY 2026 guidance to 22.300-23.500 EPS.

Here are the key takeaways from Amgen’s conference call:

• Amgen raised its 2026 guidance, now expecting revenue of $38.2 billion–$39.4 billion and non-GAAP EPS of $22.30–$23.50, supported by strong first-half execution.
• The six key growth drivers grew 26% collectively and represented nearly 70% of product sales, led by Repatha (+37%), EVENITY (+38%), TEZSPIRE (+42%), UPLIZNA (+90%), IMDELLTRA (+115%), and biosimilars (+29%).
• Prolia and XGEVA sales fell 33% year over year to $1.1 billion as multiple biosimilar competitors launched, highlighting ongoing pressure from loss of exclusivity.
• Amgen reported continued progress across its late-stage pipeline, including Phase III programs for MariTide, olpasiran, xaluritamig, and expanded indications for UPLIZNA, TEZSPIRE, and IMDELLTRA that could support longer-term growth.
• The company plans significant reinvestment, including high-single-digit R&D growth, approximately $2.6 billion in 2026 capital expenditures, and higher third-quarter operating expenses; it also discontinued Phase I obesity asset AMG 513 while maintaining a high bar for the MariTide program.

Amgen Stock Performance

Shares of Amgen stock opened at $407.83 on Thursday. The business has a 50-day simple moving average of $359.92 and a 200 day simple moving average of $355.33. Amgen has a one year low of $269.77 and a one year high of $416.24. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The firm has a market capitalization of $220.11 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.95 and a beta of 0.41.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, August 21st. Amgen’s payout ratio is presently 70.15%.

Institutional Investors Weigh In On Amgen

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sfam LLC bought a new position in shares of Amgen in the 4th quarter worth $38,000. Advocate Investing Services LLC acquired a new position in Amgen during the fourth quarter worth $39,000. Garton & Associates Financial Advisors LLC acquired a new position in Amgen during the fourth quarter worth $52,000. Binnacle Investments Inc lifted its stake in shares of Amgen by 26.1% in the third quarter. Binnacle Investments Inc now owns 208 shares of the medical research company’s stock valued at $59,000 after buying an additional 43 shares in the last quarter. Finally, Itau Unibanco Holding S.A. lifted its stake in shares of Amgen by 21.2% in the fourth quarter. Itau Unibanco Holding S.A. now owns 189 shares of the medical research company’s stock valued at $62,000 after buying an additional 33 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q2 results exceeded expectations. Amgen reported adjusted earnings of $6.29 per share versus the $5.62 consensus, while revenue rose 9.5% year over year to $10.05 billion, above estimates of $9.43 billion. Amgen second-quarter sales rise 9%, profit tops Street view
• Positive Sentiment: Management raised its full-year outlook. Amgen now expects 2026 revenue of $38.2 billion to $39.4 billion and adjusted EPS of $22.30 to $23.50, with the revenue midpoint above Wall Street expectations. Amgen hikes sales outlook after second-quarter results
• Positive Sentiment: Growth is broad across the portfolio. Repatha sales increased 37% and Evenity sales rose 38%, while 22 products delivered double-digit sales growth. Investors appear to be looking past weakness in older medicines and an obesity-program setback. Amgen stock climbs as drug growth outruns obesity setback
• Positive Sentiment: Analyst sentiment improved. UBS raised its target to $440, TD Cowen to $452, and Scotiabank, BMO and Oppenheimer also lifted targets to approximately $450 while maintaining positive ratings. TD Cowen raises Amgen price target
• Neutral Sentiment: Amgen is emphasizing late-stage pipeline development, but valuation remains a consideration at roughly 25 times earnings and the shares are above several analysts’ revised targets, including Morgan Stanley’s $351 Hold target.
• Negative Sentiment: Risks remain in legacy products and compliance matters. Prolia and XGEVA sales fell sharply amid biosimilar pressure. Separately, reports of a patient-data breach and regulatory scrutiny surrounding Tavneos could create legal, reputational and operational costs. Amgen faces patient data breach and Tavneos review risk

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group set a $389.00 price objective on shares of Amgen in a research note on Friday, June 5th. Truist Financial lifted their target price on shares of Amgen from $340.00 to $362.00 and gave the stock a “hold” rating in a research note on Wednesday. Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Wells Fargo & Company upped their price target on shares of Amgen from $390.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $350.00 price target on shares of Amgen in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Amgen has a consensus rating of “Hold” and an average target price of $367.57.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.