Amgen (NASDAQ:AMGN) Issues Earnings Results, Beats Estimates By $0.38 EPS

Amgen (NASDAQ:AMGN) posted its earnings results on Thursday. The medical research company reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $4.77 by $0.38, Zacks reports. Amgen had a net margin of 20.96% and a return on equity of 139.90%. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the previous year, the firm posted $4.90 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. Amgen updated its FY 2026 guidance to 21.700-23.100 EPS.

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

• Q1 momentum — Six key growth drivers accounted for ~70% of product sales, growing 24% year-over-year and generating $5.6 billion, which management says validates the “springboard” strategy to offset losses of exclusivity.
• Raised 2026 outlook — Amgen increased full-year guidance to $37.1–$38.5 billion in revenue and non-GAAP EPS of $21.70–$23.10, signaling confidence that emerging growth drivers will offset legacy declines.
• MariTide advancement — New Phase III switch and long‑term maintenance studies (including every‑8 and every‑12‑week dosing) were initiated and 3‑step dose escalation appears to reduce GI side effects, with trials enrolling well ahead of potential launch planning.
• Repatha commercial and clinical momentum — VESALIUS‑CV subgroup data show a 31% MACE reduction in high‑risk diabetes patients without known atherosclerosis, uptake and new‑to‑brand prescribing are increasing, and Amgen is expanding access (including a simplified cash‑pay option).
• Risks to near‑term results — Management expects accelerated erosion of LOE brands (Prolia/Xgeva down 32% Y/Y), faces a proposed FDA withdrawal for Tavneos, and disclosed an IRS draft NOPA for 2016–2018 that, if sustained, could have a material financial impact.

Amgen Stock Performance

Shares of AMGN stock traded down $16.43 during mid-day trading on Friday, reaching $329.82. 3,820,484 shares of the company’s stock traded hands, compared to its average volume of 2,365,966. Amgen has a 12 month low of $261.43 and a 12 month high of $391.29. The firm has a 50 day moving average price of $358.07 and a two-hundred day moving average price of $340.45. The company has a debt-to-equity ratio of 5.78, a quick ratio of 0.90 and a current ratio of 1.14. The firm has a market capitalization of $178.00 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 3.42 and a beta of 0.47.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be given a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. Amgen’s payout ratio is presently 70.84%.

Institutional Investors Weigh In On Amgen

Hedge funds have recently modified their holdings of the business. Sfam LLC bought a new stake in shares of Amgen during the 4th quarter valued at $38,000. Advocate Investing Services LLC bought a new stake in shares of Amgen during the 4th quarter valued at $39,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Amgen during the 4th quarter valued at $52,000. Itau Unibanco Holding S.A. grew its position in shares of Amgen by 21.2% during the 4th quarter. Itau Unibanco Holding S.A. now owns 189 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 33 shares during the period. Finally, State of Wyoming bought a new stake in shares of Amgen during the 4th quarter valued at $65,000. Institutional investors own 76.50% of the company’s stock.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q1 results beat expectations — AMGN reported $5.15 EPS vs. $4.73 consensus and product sales rose ~4%, with 16 drugs delivering double‑digit growth, supporting the company’s growth story. Amgen’s Q1 Earnings Top Estimates
• Positive Sentiment: Bullish analyst action — Goldman Sachs reiterated a Buy and lifted its price target to $425, signaling long‑term upside from execution and pipeline momentum. Goldman Sachs Raises PT to $425
• Positive Sentiment: Other supportive analyst notes — Some firms (e.g., William Blair) reiterated Buy ratings after the quarter, highlighting confidence in the MariTide/weight‑loss program and execution. Analyst Reiterates Buy
• Neutral Sentiment: Guidance set but roughly in line — Amgen updated FY‑2026 EPS guidance to $21.70–$23.10 (consensus ~22.29), which many read as broadly in‑line rather than materially bullish. Amgen FY2026 Guidance (press release/slide)
• Neutral Sentiment: Small, mixed analyst target moves — Truist nudged its target to $327 with a Hold rating (minimal change), leaving some investors watching for clearer directional signals. Truist Raises PT to $327
• Negative Sentiment: FDA action risk — The FDA proposed withdrawing Tavneos approval after alleging clinical‑trial data issues, raising regulatory, compliance and reputational concerns that can pressure the stock. FDA Tavneos Proposal Coverage
• Negative Sentiment: Investor apprehension over strategy/timing — Some market commentary framed the quarter as “generally in‑line” and expressed concern about Amgen’s aggressive push into obesity (MariTide) and the near‑term profit impact, contributing to selling pressure. Investor Reaction to MariTide Expansion

Analysts Set New Price Targets

A number of equities research analysts have commented on AMGN shares. Citigroup lifted their target price on shares of Amgen from $315.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Rothschild & Co Redburn lifted their target price on shares of Amgen from $180.00 to $200.00 and gave the stock a “sell” rating in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Amgen from $285.00 to $295.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. Sanford C. Bernstein downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and set a $335.00 target price for the company. in a research report on Tuesday, January 20th. Finally, Guggenheim lifted their target price on shares of Amgen from $347.00 to $351.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $357.54.

Amgen Company Profile

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.