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Amgen Inc. (AMGN) is a leading biotechnology company headquartered in Thousand Oaks, California. It specializes in the discovery, development, manufacturing, and delivery of innovative human therapeutics, particularly biologics that target serious illnesses such as cancer, cardiovascular disease, inflammation, and bone disorders. Amgen pioneered recombinant DNA technology to advance patient care globally. The company has a market capitalization of $184.10 billion.
The stock has been facing solid investor sentiment. Over the past 52 weeks, Amgen’s stock has gained 20.4%, while over the past six months, it has risen 13.4%. The company’s shares reached a 52-week high of $353.25 on Jan. 27, but are down 3.2% from that level.
On the other hand, the broader S&P 500 Index ($SPX) has gained 14.3% and 9.1% over the same periods, respectively, indicating that the stock has outperformed the broader market. Next, we compare the stock with its own sector. The State Street Health Care Select Sector SPDR ETF (XLV) has increased 5% over the past 52 weeks and 15.3% over the past six months. Therefore, while the stock has outperformed its sector over the past year, it has underperformed over the past six months.
Amgen is taking some strategic strides to bolster its business. Fitch Ratings recognized the company’s improved financial structure and debt repayment after the acquisition of Horizon Therapeutics by raising its long-term issuer default rating from “BBB” to “BBB+.” The company also acquired a U.K.-based biotech firm, Dark Blue Therapeutics, which is expected to bolster Amgen’s oncology portfolio.
The company’s third-quarter results were better than what analysts had expected. For the fourth quarter of 2025 (to be reported on Feb. 3, after the market closes), Wall Street analysts expect Amgen’s EPS to decline 10.6% YOY to $4.75 on a diluted basis. However, EPS is expected to increase 7.3% annually to $21.29 for fiscal 2025, followed by a 2.6% improvement to $21.85 in fiscal 2026. The company has a solid history of surpassing consensus estimates, topping them in all four trailing quarters.
Among the 33 Wall Street analysts covering Amgen’s stock, the consensus is a “Moderate Buy.” That’s based on 14 “Strong Buy” ratings, two “Moderate Buys,” 14 “Holds,” one “Moderate Sell,” and two “Strong Sells.” The ratings configuration has become more bullish than two months ago, with 14 “Strong Buy” ratings, up from 13.
Recently, analysts at Bernstein downgraded Amgen’s stock from “Outperform” to “Market Perform,” citing that 2026 could be a “waiting year” for the stock, as its obesity candidate MariTide awaits its first Phase 3 trial data and its cholesterol drug Repatha faces competition from Merck’s (MRK) oral PCSK9 inhibitor, Enlicitide.
Amgen’s mean price target of $336.29 indicates a 1.6% downside over current market prices. However, the Street-high price target of $425 implies a potential upside of 24.3%.
On the date of publication, Anushka Dutta did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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