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

Amgen (NASDAQ:AMGN) announced its quarterly earnings results on Tuesday. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67, Zacks reports. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. During the same period in the prior year, the firm posted $6.02 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. 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 Up 3.1%

Shares of NASDAQ:AMGN opened at $390.63 on Wednesday. The company has a market capitalization of $210.83 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 3.83 and a beta of 0.41. Amgen has a 12-month low of $269.77 and a 12-month high of $398.00. The business has a 50-day moving average price of $358.49 and a 200 day moving average price of $354.79. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a $2.52 dividend. This represents a $10.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, August 21st. Amgen’s dividend payout ratio is 70.15%.

Institutional Investors Weigh In On Amgen

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in shares of Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after buying an additional 5,226 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of Amgen by 10.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock valued at $331,000 after buying an additional 114 shares during the period. Schnieders Capital Management LLC. lifted its stake in Amgen by 29.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company’s stock worth $7,220,000 after acquiring an additional 5,853 shares in the last quarter. Main Street Financial Solutions LLC lifted its stake in Amgen by 11.3% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company’s stock worth $1,141,000 after acquiring an additional 416 shares in the last quarter. Finally, Ieq Capital LLC boosted its holdings in Amgen by 5.1% during the 2nd quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company’s stock valued at $15,120,000 after acquiring an additional 2,611 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q2 results exceeded expectations: Adjusted earnings were $6.29 per share versus the $5.62 consensus, while revenue rose 9.5% year over year to $10.05 billion, beating estimates of $9.43 billion. The company cited broad-based demand, with 22 products delivering double-digit sales growth. Amgen second-quarter sales rise 9%, profit tops Street view
• Positive Sentiment: Full-year guidance was raised: Amgen now expects 2026 revenue of $38.2 billion to $39.4 billion, above the previous outlook and ahead of Wall Street’s estimate. Stronger sales of Repatha, Evenity and rare-disease medicines are helping offset declines in Prolia and XGEVA. Amgen Lifts Outlook on Strong Drug Sales
• Positive Sentiment: Pipeline and analyst confidence remain supportive: William Blair reiterated a Buy rating, pointing to late-stage pipeline catalysts and portfolio growth. Amgen also continues development of MariTide, its experimental obesity treatment, and extended a Phase 3 obesity study, preserving a potential long-term growth opportunity. Analyst Maintains Buy on Amgen
• Neutral Sentiment: Amgen generated $3.5 billion in free cash flow and held $14 billion in cash at quarter-end, supporting financial flexibility. However, the company’s high leverage and valuation may limit further gains if growth expectations are already reflected in the stock.
• Negative Sentiment: Cybersecurity and regulatory risks could weigh on sentiment: Amgen disclosed a data breach involving patient and proprietary information, and a law firm has launched a class-action investigation. Regulators are also reviewing data supporting Tavneos after the retraction of a pivotal publication, creating potential legal, reputational and commercial risks. Amgen data breach class-action investigation
• Negative Sentiment: Amgen is ending early development of another Phase 1 obesity treatment, reducing the breadth of its weight-loss pipeline, even though MariTide remains in development.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. Canaccord Genuity Group increased their target price on shares of Amgen from $366.00 to $384.00 and gave the stock a “hold” rating in a research note on Wednesday. UBS Group upped their price target on Amgen from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Truist Financial increased their price target on Amgen from $340.00 to $362.00 and gave the stock a “hold” rating in a research report on Wednesday. Daiwa Securities Group dropped their price objective on Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Wells Fargo & Company upped their target price on Amgen from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $361.30.

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.