Amgen Inc

Amgen's AMGN stock hit a fresh 52-week high of $440.51 on Aug. 21, 2026, before closing the session at $439.33. The stock has gained 16.8% over the past month, mainly driven by strong second-quarter results and increased guidance. Amgen beat estimates for both earnings and revenues in the second quarter and raised its financial outlook for 2026 for the second time this year. The company's key growth drivers, which represent almost 70% of total product sales, rose 24% year over year in the first quarter and 26% in the second quarter. However, Amgen faces significant biosimilar pressure on its denosumab franchise, with Prolia sales declining 32% and Xgeva declining 34% in the second quarter. The Zacks Consensus Estimate for earnings has risen from $22.29 to $22.92 per share for 2026 over the past 30 days.

Amgen shares surged roughly 3.5% to $440.08 Wednesday morning as healthcare stocks ripped to a record high, powered by fresh excitement around Merck and Moderna's melanoma breakthrough and a market rotation away from battered semiconductor names. The biotech heavyweight behind Repatha, Enbrel and MariTide reported second-quarter revenue up 10% to $10.1 billion, product sales up 9%, and GAAP earnings up 65% to $4.37 per share. Twenty-two medicines delivered double-digit sales growth, seventeen products are running above $1 billion in annualized sales, and six key growth products surged 26% to generate nearly 70% of product revenue. The stock now trades at a roughly 19% premium to its $365.04 GF Value, putting pressure on execution amid Prolia declines and Tavneos uncertainty, but investors are looking past those cracks to accelerating earnings, multiple blockbuster franchises, defensive healthcare demand, and MariTide's potential in obesity.

Amgen reported second quarter results that beat Wall Street expectations and raised its full-year guidance. Revenue came in at $10.05 billion versus analyst estimates of $9.40 billion, a 9.5% year-over-year increase, while adjusted EPS of $6.29 beat estimates of $5.62. The company lifted its full-year revenue guidance to $38.8 billion at the midpoint from $37.8 billion, and raised adjusted EPS guidance to $22.90 at the midpoint. Management highlighted double-digit growth in key products like Repatha, EVENITY, and TEZSPIRE, with 22 products achieving double-digit sales growth and 17 products annualizing over $1 billion in sales. During the earnings call, analysts questioned executives on topics including Olpasiran's trial design, business development strategy, MariTide's tolerability, competitive pressure on Otezla, and monitoring requirements for IMDELLTRA.

Amgen announced plans to open a new Science and Innovation Center at Genome Valley in Hyderabad, expanding its global research and development network. The center, expected to be operational in 2027, will integrate advanced scientific capabilities with data and digital innovation to accelerate drug discovery and development. It will house scientists and technologists across discovery chemistry, drug metabolism and pharmacokinetics, and precision medicine, complementing Amgen's existing technology and innovation site in Hyderabad. The facility joins Amgen's network of seven research laboratories and aims to enhance speed, precision, and efficiency in developing innovative medicines for patients worldwide.

Several companies saw their shares rise after reporting second-quarter 2026 earnings that exceeded analyst expectations. Amgen shares climbed 4.6% after posting adjusted earnings of $6.29 per share, surpassing the Zacks Consensus Estimate of $5.60 per share. Arista Networks gained 3.6% after reporting adjusted earnings of $1.02 per share, beating the estimate of $0.89 per share. Wynn Resorts advanced 3.6% after adjusted earnings of $1.24 per share topped the estimate of $1.01 per share. Booking Holdings jumped 6.6% after adjusted earnings of $2.54 per share exceeded the estimate of $2.45 per share.

The Dow Jones Industrial Average closed at a record high, rising 263.24 points to 54,349.12, buoyed by strong corporate earnings and a rally in Nvidia shares, as well as signs of progress in peace talks between the United States and Iran. Meanwhile, the Nasdaq fell for the first time in five trading days after SpaceX and AMD shares dropped following their quarterly earnings reports. Nvidia shares surged more than 3% after Elon Musk said SpaceX would exclusively use Nvidia processors to build its AI infrastructure. SpaceX shares fell over 13% after its second-quarter capital expenditure soared sixfold to 18.4 billion dollars. Amgen rose 4.6% and Eli Lilly jumped 4.9%, lifting the S&P 500 healthcare sector to a 1.3% gain. Advanced Micro Devices fell 7% and Alphabet dropped 4% after reporting earnings and restructuring its AI unit. Oil prices were steady amid hopes for a US-Iran deal, with reports that a proposal between Iran and Oman would give Iran control over ships entering the Persian Gulf through the Strait of Hormuz, a passage for one-fifth of the world's oil. European stocks closed at a fresh record high, with the STOXX 600 ending at 657.14, up 0.04%, led by mining stocks which rose 2.3% on the back of gold prices.

Amgen posted stronger-than-expected second-quarter results and raised its full-year 2026 guidance. Revenue climbed 9% year over year to about $10.05 billion, while adjusted earnings reached $6.29 per share, comfortably ahead of the $5.62 Wall Street consensus. The company lifted its 2026 revenue forecast to $38.2 billion to $39.4 billion from $37.0 billion to $38.4 billion previously and increased adjusted earnings guidance to $22.30 to $23.50 per share. Sales of Repatha surged 37% to $953 million, Evenity jumped 38% to $714 million, and rare-disease therapy Uplizna nearly doubled revenue with roughly 90% growth, helping offset a 32% drop in Prolia sales due to biosimilar competition. Amgen also discontinued obesity candidate AMG 513 but is advancing MariTide, with pivotal Phase 3 data expected in 2027.

Booking Holdings is up more than +7% after reporting better-than-expected Q2 gross bookings. The company posted Q2 gross bookings of $51.00 billion, above the consensus of $49.68 billion. The broader market saw mixed trading, with the S&P 500 and Dow Jones Industrials hitting new all-time highs, while the Nasdaq 100 edged lower. Other notable movers included Amgen, up more than +5% on stronger-than-expected Q2 EPS, and Advanced Micro Devices, down more than -7% after its third-quarter sales forecast disappointed investors.

Amgen shares rose about 4% on Wednesday after the biotechnology company reported second-quarter 2026 results that topped Wall Street expectations. Adjusted earnings per share came in at $6.29, ahead of analyst estimates of roughly $5.60 to $5.62, while revenue reached $10.05 billion, exceeding consensus expectations of about $9.40 billion. Total revenue increased 10% year over year to $10.1 billion, with product sales up 9% on higher volumes, and 22 products delivered double-digit sales growth during the quarter. CEO Robert Bradway highlighted that the company's six key growth drivers grew 26% year over year and generated nearly 70% of second-quarter product sales. GAAP earnings per share rose to $4.37 from $2.65 a year earlier, and free cash flow was $3.5 billion compared with $1.9 billion in the same period last year.

The S&P 500 and Dow Jones Industrial Average posted new all-time highs, while the Nasdaq 100 reached a one-month high, driven by strong earnings from companies including Booking Holdings and Amgen. Booking Holdings rose more than 7% after reporting better-than-expected second-quarter gross bookings, and Amgen gained over 5% on stronger-than-expected adjusted earnings per share. However, SpaceX fell more than 10% to lead losers in the Nasdaq 100 after disclosing higher-than-expected spending on its artificial intelligence business, despite reporting better-than-expected second-quarter earnings. Advanced Micro Devices also declined more than 4% after its third-quarter sales forecast disappointed investors. Market sentiment was further pressured by a rebound in crude oil prices following threats from Yemen's Houthi militants to escalate attacks on Saudi vessels in the northern Red Sea.

Amgen reported second-quarter 2026 adjusted earnings of $6.29 per share, beating the Zacks Consensus Estimate of $5.60, and raised its full-year guidance. Total revenues increased 10% to $10.1 billion, surpassing the consensus estimate of $9.44 billion, driven by a 9% rise in product sales to $9.54 billion. Key growth drivers, including Repatha, Evenity, Tezspire, and oncology and rare disease drugs, grew 26% year over year and represented almost 70% of total product sales. The company lifted its 2026 revenue outlook to a range of $38.2 billion to $39.4 billion and adjusted earnings guidance to $22.30 to $23.50 per share, citing strong first-half execution. However, sales of legacy drugs Prolia and Xgeva declined sharply due to biosimilar competition following patent expirations in 2025.

Amgen's second-quarter sales for Enbrel and Otezla rebounded from the previous quarter, even as both products continued to face year-over-year declines. The company reported overall Q2 results that beat expectations, prompting it to raise its full-year 2026 revenue guidance to a range of $38.2 billion to $39.4 billion and non-GAAP earnings per share guidance to $22.30 to $23.50. The improved outlook comes as Amgen prepares for a chief financial officer transition.

Kaléo has entered into a confidential license agreement with Amgen, granting Amgen rights to certain of Kaléo's patented auto-injector technology. Financial and other terms were not disclosed. The agreement highlights Kaléo's role in drug-device innovation and its leadership in patient-centric auto-injector solutions.

Several major companies announced dividend declarations. Apple declared a cash dividend of $0.27 per share, payable on August 13, 2026 to shareholders of record on August 10, 2026. Amgen declared a $2.52 per share dividend for the third quarter of 2026, payable on September 11, 2026 to stockholders of record on August 21, 2026. Huntsman declared a $0.0875 per share cash dividend, payable on September 30, 2026 to stockholders of record on September 15, 2026. Boise Cascade declared a quarterly dividend of $0.23 per share, an increase of $0.01 per share or 5%, payable on September 16, 2026 to stockholders of record on September 1, 2026. Alcoa declared a quarterly cash dividend of $0.10 per share, payable on August 27, 2026 to stockholders of record on August 11, 2026. BorgWarner declared a quarterly cash dividend of $0.17 per share, payable on September 15, 2026 to stockholders of record on September 1, 2026.

Moderna reported first-quarter revenues of $389 million, a 260% year-on-year increase that exceeded analyst expectations by 55.8%, making it the fastest-growing company among the 11 therapeutics stocks tracked. The group as a whole beat consensus revenue estimates by 14.5%, with shares up an average of 9.8% since reporting. Novavax posted revenues of $139.5 million, down 79.1% year-on-year but still beating estimates by 84.5%, the largest beat in the group. United Therapeutics was the weakest performer, with revenues of $781.5 million missing estimates by 1.9%, while Amgen reported $8.62 billion in revenue, up 5.8% and beating estimates by 1.4%.

A federal judge blocked Colorado's plan to impose a 70% price cap on Amgen's blockbuster arthritis drug Enbrel, halting a significant state-level pricing move. The ruling eased concerns that aggressive state pricing limits on Enbrel could spread more widely, reducing a key regulatory overhang for Amgen's portfolio. Amgen has reaffirmed its 2026 revenue guidance of US$37.1 billion to US$38.5 billion and GAAP EPS of US$15.62 to US$17.10. The company's narrative projects US$40.1 billion in revenue and US$9.9 billion in earnings by 2029, requiring 2.5% yearly revenue growth and a US$2.1 billion earnings increase from US$7.8 billion today. Some optimistic analysts were already assuming revenue could reach about US$44.4 billion and earnings US$13.2 billion by 2029, far more upbeat than consensus.

The global vitiligo therapeutics market is projected to reach USD 1.72 billion in 2026 and expand at a compound annual growth rate of 4.73 percent, reaching USD 2.28 billion by 2032. Growth is being supported by increased recognition of vitiligo as a chronic inflammatory condition, greater demand for durable repigmentation therapy, and continued investment in advanced dermatology therapeutics. The treatment landscape is shifting from nonspecific immunosuppression toward targeted immune modulation, with topical JAK inhibitors for nonsegmental vitiligo strengthening clinical interest in the JAK-STAT pathway. Artificial intelligence is emerging as a valuable component of digital dermatology, supporting lesion segmentation, body surface area measurement, and longitudinal tracking of repigmentation. North America remains a leading market due to advanced dermatology infrastructure and earlier integration of targeted topical therapies, while Asia-Pacific represents a significant growth opportunity because of its large patient population and expanding dermatology networks.

Amgen stock may be 47% undervalued following a court ruling that blocked Colorado's proposed price cap on Enbrel. A Discounted Cash Flow model estimates an intrinsic value of about $676 per share, compared with a recent price of $360.45, implying a 46.7% discount. The preliminary injunction supports projected cash flows, though recalls of Corlanor and Sensipar highlight manufacturing risks. On a price-to-earnings basis, Amgen trades at 24.9 times, close to a fair ratio benchmark of 25.3 times, suggesting the stock is roughly fairly valued on that metric.

The global bevacizumab biosimilars market is projected to grow from USD 2.18 billion in 2025 to USD 5.94 billion by 2035, at a compound annual growth rate of 10.54 percent, according to a new report by SNS Insider. North America held the largest share in 2025 at 41.52 percent of revenue, while Asia-Pacific is the fastest-growing region with a CAGR of around 13.28 percent. Among products, Mvasi led with a 28.46 percent revenue share in 2025, and Zirabev is expected to register the fastest CAGR through 2035. Colorectal cancer was the dominant application segment with a 37.85 percent share, and hospital pharmacies accounted for 63.74 percent of distribution. Key players include Amgen, Pfizer, Mylan, Samsung Bioepis, and Celltrion Healthcare.

Truist raised its price target on Amgen to $340 from $327 as part of a broader second-quarter earnings preview for biotech. The firm expects a rebound from a traditionally softer start to the year, with strength in second-quarter results for commercial franchises within its coverage. Truist also cited a robust catalyst calendar, sector optimism, and deal activity as drivers of recent momentum across biotech. Separately, Morgan Stanley lowered its price target on Amgen to $333 from $340 and kept an Equal Weight rating, noting biotech could benefit from broader market leadership and lower interest rates. Last month, Mizuho analyst Salim Syed raised the firm's price target on Amgen to $303 from $295 after updating the company's model following the first-quarter report.

CNBC's Jim Cramer declared biotech the hottest group in the market, citing a 51% return for the iShares Biotechnology ETF over the past year and a surge in dealmaking following a leadership change at the FDA. Cramer noted that the prior administration nearly blocked an Amgen acquisition, but with new FDA leadership, his sources expect deals to flood the market. Eli Lilly, a $1.16 trillion pharma giant, has already announced four acquisitions in the first quarter of 2026, including Orna Therapeutics, Centessa Pharmaceuticals, Kelonia Therapeutics, and Ajax Therapeutics, fueled by strong sales of Mounjaro and Zepbound. Cramer also highlighted Alnylam Pharmaceuticals as a prime takeover target, with its stock down 21% year-to-date despite 187% revenue growth and a surging TTR drug franchise. He advised investors to be long biotech, a call he has not made in ages.

Amgen and Biogen are two of the world's largest biotech companies, and a comparison of their fundamentals, growth outlook, and risks suggests Amgen currently presents the more attractive investment opportunity. Amgen offers a diversified portfolio with more than a dozen blockbuster products, strong cash generation, and dividend income, while Biogen is in the midst of a major portfolio transition as its multiple sclerosis franchise declines. Biogen's newer drugs, including Leqembi, Skyclarys, Qalsody, and Zurzuvae, are not yet sufficient to offset near-term revenue declines, and increased costs from recent acquisitions have led to downward earnings estimate revisions. Amgen's key medicines and new biosimilar launches are driving top-line growth, though it faces a significant patent-expiration overhang with products like Prolia, Xgeva, Enbrel, and Otezla accounting for roughly 30% of 2025 product sales. Both stocks carry a Zacks Rank of 3, or Hold, but Amgen's broader commercial portfolio and more stable outlook make it the preferred choice.

Mizuho raised its price target for Amgen to $303 from $295 while maintaining a Neutral rating, citing MariTide and olpasiran as key pipeline assets. The firm noted that Novartis and Ionis Pharmaceuticals' Phase 3 Lp(a) study for pelacarsen is expected to conclude in early second half of 2026, which could shift market attention to Amgen's olpasiran, with its data anticipated later. Mizuho also flagged a potential risk from an IRS tax dispute that, per Amgen's 10-Q filing, will not be resolved before the latter half of 2026.