An Amgen sign is seen at the company's headquarters in Thousand Oaks, California, U.S., November 6, 2019. REUTERS/Deena Beasley/File Photo/File Photo Purchase Licensing Rights, opens new tab
CompaniesJuly 24 (Reuters) - Amgen (AMGN.O), opens new tab said on Friday it submitted new evidence to the FDA on July 23 as it seeks a hearing to challenge the proposed withdrawal of its rare-disease drug Tavneos from the U.S. market.
The U.S. Food and Drug Administration in April proposed withdrawing the drug, which treats a rare autoimmune disease that damages blood vessels, citing a lack of proven effectiveness and false statements in its original marketing application.
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Amgen said it strongly disagrees with the FDA and that its submission includes more than 70 real-world studies involving over 2,200 patients supporting the drug’s effectiveness and safety.
The drug developer said the Duke Clinical Research Institute, which it had commissioned to independently review the pivotal trial, found Tavneos matched a steroid treatment regimen at 26 and 52 weeks, although it did not reproduce the original finding of superiority at 52 weeks.
The FDA did not immediately respond to a Reuters request for comment.
The health regulator in March had separately identified 76 cases of serious liver injury linked to Tavneos, including eight deaths and seven cases of a rare condition that can cause permanent liver damage.
In June, Europe's drug regulator recommended revoking the drug's approval, citing unreliable study data.
Tavneos treats severe active ANCA-associated vasculitis, a rare disease that inflames blood vessels and can damage organs including the kidneys and lungs.
The FDA said in April that Tavneos would remain on the U.S. market unless Amgen removes it or the FDA commissioner orders its withdrawal.
Reporting by Kunal Das in Bengaluru; Editing by Sahal Muhammed
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Bank of Nova Scotia reduced its holdings in Amgen Inc. (NASDAQ:AMGN – Free Report) by 15.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,227 shares of the medical research company’s stock after selling 58,745 shares during the period. Bank of Nova Scotia owned about 0.06% of Amgen worth $110,562,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of AMGN. Anfield Capital Management LLC boosted its position in Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 70 shares during the last quarter. Dogwood Wealth Management LLC increased its position in Amgen by 275.0% in the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after purchasing an additional 55 shares during the last quarter. Tower View Wealth Management LLC increased its position in Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after purchasing an additional 63 shares during the last quarter. Manning & Napier Advisors LLC raised its stake in shares of Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new stake in shares of Amgen during the 4th quarter worth about $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets Several brokerages recently commented on AMGN. Mizuho boosted their price target on Amgen from $295.00 to $303.00 and gave the company a “neutral” rating in a research note on Tuesday, June 16th. Royal Bank Of Canada reaffirmed a “positive” rating on shares of Amgen in a research report on Thursday, June 18th. Daiwa Securities Group reduced their target price on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Truist Financial boosted their target price on shares of Amgen from $327.00 to $340.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th. Finally, Guggenheim increased their price target on shares of Amgen from $340.00 to $343.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $356.62.
Read Our Latest Analysis on AMGN
Amgen Stock Performance AMGN opened at $371.50 on Friday. The company has a market cap of $200.50 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 3.70 and a beta of 0.41. The stock has a 50-day moving average of $350.28 and a 200-day moving average of $351.63. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $391.29. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26.
Amgen (NASDAQ:AMGN – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the prior year, the firm posted $4.90 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 22.31 earnings per share for the current fiscal year.
Insider Buying and Selling at Amgen In other news, SVP Nancy A. Grygiel sold 1,237 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, the senior vice president directly owned 7,009 shares in the company, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.85% of the company’s stock.
Amgen Company Profile (Free Report)
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.
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In the latest trading session, Amgen (AMGN - Free Report) closed at $371.47, marking a +1.48% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.21%. Meanwhile, the Dow experienced a drop of 0.97%, and the technology-dominated Nasdaq saw a decrease of 2.15%.
Prior to today's trading, shares of the world's largest biotech drugmaker had gained 4.16% outpaced the Medical sector's gain of 3.97% and the S&P 500's gain of 0.42%.
The upcoming earnings release of Amgen will be of great interest to investors. The company's earnings report is expected on August 4, 2026. It is anticipated that the company will report an EPS of $5.6, marking a 6.98% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $9.45 billion, up 2.94% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $22.31 per share and a revenue of $37.73 billion, representing changes of +2.15% and +2.67%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Amgen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.34% downward. Amgen is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Amgen's current valuation metrics, including its Forward P/E ratio of 16.41. Its industry sports an average Forward P/E of 18.84, so one might conclude that Amgen is trading at a discount comparatively.
Also, we should mention that AMGN has a PEG ratio of 3.7. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.54 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 93, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Amplify CWP Enhanced Dividend Income ETF (NYSEARCA:DIVO) pays a 6.4% distribution yield in monthly installments, with the latest payout of $0.18284 per share hitting accounts on June 30, 2026. DIVO attracts income investors seeking monthly distributions without relying entirely on options-income funds that sacrifice growth for yield. The core question is whether the distribution is backed by durable cash flow from blue-chip holdings or masks instability.
How DIVO Generates Income This is an actively managed portfolio of roughly 40 large-cap dividend payers, with the top 10 accounting for roughly 49% of assets. Sector weights lean toward financials at 24%, technology at 15%, and industrials at 13%. The manager collects ordinary dividends, then writes covered calls on selected positions when volatility makes premiums attractive, layering options income on top. The blended payout flows to shareholders monthly.
The fund manages $7.44 billion and charges a 0.56% expense ratio, competitive for an active mandate. DIVO’s structure offers a tax-efficient way to generate income without sacrificing total return potential.
The Blue-Chip Base Microsoft (NASDAQ:MSFT | MSFT Price Prediction) is a top holding at about 5% of the portfolio. Its yield is only 0.9%, but the payout is arguably the safest large dividend available. Microsoft raised the quarterly payout to $0.91 in late 2025, backed by a 39.3% profit margin and Azure growth of 40%. Coverage is not a concern. JPMorgan Chase (NYSE:JPM) pays $1.50 per quarter, up from $1.40 in mid-2025. Q2 2026 net income of $21.2 billion and a 23% ROTCE leave the payout comfortably funded. The bank authorized a new $50 billion buyback effective July 1, and a 14.3% CET1 ratio ensures capacity to sustain payments through a credit cycle. Caterpillar (NYSE:CAT) raised its quarterly dividend to $1.63 from $1.51, its first hike in a year. Full-year 2025 net income fell 17.7% under tariff pressure, but Q1 2026 earnings rebounded 27%, and management cited a record backlog. CAT has paid dividends without interruption for more than 25 years, including through 2008 and 2020. The dividend is safe. The stock, up 51% year to date, is another matter. Amgen (NASDAQ:AMGN) warrants closer scrutiny. The dividend climbed 6% to $2.52 quarterly, yielding 2.6%, but debt sits at $57.3 billion at 3.2x EBITDA leverage. Biosimilar erosion on Prolia and XGEVA and Medicare pricing pressure on Enbrel are real headwinds. Free cash flow of $8.1 billion in 2025 still covers the payout by a wide margin, but Amgen depends more on pipeline execution than balance-sheet comfort. The Options Overlay The VIX near 19, in the upper end of its 12-month range, is favorable for premium collection without tail risk. The overlay works well in this environment.
The roughly 150% payout ratio flagged on the fund’s metrics page reflects that a portion of distributions is return of capital or realized gains rather than pure dividend income. December 2025 included a $0.95 special distribution, which distorts the ratio. Trailing 12-month distributions of $2.97 per share against a roughly $46 NAV shows the fund passing through gains alongside income, not distributing more cash than the strategy generates.
Total Return and Verdict The fund returned about 16% over the past year and about 65% over five years, with a roughly 13% since-inception annualized return and a 0.65 beta. NAV has held steady, avoiding the erosion that has hit higher-yield covered-call funds. DIVO’s performance reflects its balanced approach to income and growth.
The DIVO distribution is safe, and three of four core positions have investment-grade balance sheets and rising dividends. The options overlay is a supplemental income layer in the current volatility regime. Investors chasing a 10% yield should look elsewhere. Those accepting a 6% yield with real underlying earnings power and less NAV risk have a coherent case.
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Amgen reached a $74 million settlement of a lawsuit accusing the biotechnology company of waiting too long to disclose that it might owe the Internal Revenue Service $10.7 billion for underreporting six years of taxes.
Andra AP fonden cut its holdings in Amgen Inc. (NASDAQ:AMGN – Free Report) by 18.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,366 shares of the medical research company’s stock after selling 11,734 shares during the quarter. Andra AP fonden’s holdings in Amgen were worth $17,721,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Anfield Capital Management LLC boosted its stake in shares of Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Dogwood Wealth Management LLC increased its stake in shares of Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after buying an additional 55 shares during the period. Tower View Wealth Management LLC raised its holdings in Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after buying an additional 63 shares during the last quarter. Manning & Napier Advisors LLC raised its holdings in Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after buying an additional 32 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new stake in Amgen during the 4th quarter worth approximately $33,000. Institutional investors own 76.50% of the company’s stock.
Amgen Stock Down 0.6% Amgen stock opened at $364.17 on Tuesday. The firm has a 50 day moving average price of $348.38 and a 200-day moving average price of $350.78. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $391.29. The company has a market capitalization of $196.55 billion, a P/E ratio of 25.34, a P/E/G ratio of 3.71 and a beta of 0.41.
Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.58 billion. During the same quarter in the previous year, the firm posted $4.90 EPS. Amgen’s revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities analysts predict that Amgen Inc. will post 22.31 EPS for the current year.
Analysts Set New Price Targets A number of equities research analysts have commented on AMGN shares. Daiwa Securities Group reduced their price target on Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Argus decreased their price target on shares of Amgen from $400.00 to $375.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. UBS Group increased their target price on Amgen from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Truist Financial raised their price target on shares of Amgen from $327.00 to $340.00 and gave the company a “hold” rating in a research report on Tuesday, July 7th. Finally, Guggenheim lifted their price objective on shares of Amgen from $340.00 to $343.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $356.62.
Get Our Latest Report on AMGN
Insider Activity at Amgen In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the transaction, the senior vice president owned 7,009 shares of the company’s stock, valued at $2,269,023.57. This represents a 15.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is owned by corporate insiders.
Amgen Company Profile (Free Report)
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.
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Dimensional Fund Advisors LP lifted its position in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 2.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,304,344 shares of the medical research company’s stock after buying an additional 73,365 shares during the period. Dimensional Fund Advisors LP owned 0.61% of Amgen worth $1,162,649,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Anfield Capital Management LLC raised its holdings in Amgen by 1,000.0% in the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 70 shares during the last quarter. Dogwood Wealth Management LLC boosted its holdings in shares of Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after purchasing an additional 55 shares during the last quarter. Tower View Wealth Management LLC boosted its holdings in shares of Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after purchasing an additional 63 shares during the last quarter. Manning & Napier Advisors LLC grew its position in shares of Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 32 shares during the period. Finally, Olistico Wealth LLC purchased a new stake in shares of Amgen in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.
Amgen Stock Performance Shares of AMGN opened at $366.29 on Monday. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $391.29. The firm has a market capitalization of $197.69 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.71 and a beta of 0.41. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The stock’s fifty day simple moving average is $347.69 and its 200 day simple moving average is $350.53.
Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.77 by $0.38. The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities research analysts forecast that Amgen Inc. will post 22.31 earnings per share for the current year.
Insider Activity In related news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $323.73, for a total transaction of $400,454.01. Following the completion of the sale, the senior vice president owned 7,009 shares of the company’s stock, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.85% of the company’s stock.
Amgen News Summary Here are the key news stories impacting Amgen this week:
Positive Sentiment: Amgen advanced its obesity pipeline with fresh Phase 1 data on AMG 133 injection formats, which could support long-term growth if the program continues to show promise. Amgen Advances Obesity Pipeline With Fresh Data on AMG 133 Injection Formats Positive Sentiment: Amgen’s stock was highlighted in market coverage as teasing a buy point, suggesting technical traders may see room for upside if broader market conditions stabilize. Stock Market Today: Dow Sees Red While Amgen Shares Tease A Buy Point (Live Coverage) Neutral Sentiment: Amgen remains a candidate for another earnings beat, according to recent coverage pointing to its history of topping estimates and solid fundamentals. Will Amgen (AMGN) Beat Estimates Again in Its Next Earnings Report? Neutral Sentiment: Erste Group slightly lowered its FY2027 EPS estimate for Amgen to $23.58 from $23.62 and kept a Hold rating, a modest negative for sentiment but not a major change in the outlook. Amgen Inc. (NASDAQ:AMGN) Free Report Negative Sentiment: Amgen halted a late-stage bemarituzumab gastric cancer trial, adding uncertainty to part of its oncology pipeline and pressuring investor expectations. Amgen Halts Bemarituzumab Gastric Cancer Trial, Shifting Oncology Expectations Negative Sentiment: Amgen also terminated a key Phase 3 rocatinlimab eczema study, another setback that may raise concerns about the durability of its pipeline growth. Amgen’s Rocatinlimab Eczema Trial Termination Jolts Investor Expectations Analysts Set New Price Targets Several equities analysts recently commented on the company. Freedom Capital upgraded Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Morgan Stanley lowered their price target on Amgen from $340.00 to $333.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. Weiss Ratings downgraded shares of Amgen from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Finally, Canaccord Genuity Group assumed coverage on shares of Amgen in a report on Monday, April 20th. They set a “hold” rating and a $366.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $356.62.
Get Our Latest Analysis on AMGN
Amgen Profile (Free Report)
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.
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On July 20, 2026, we present a DCF analysis for Amgen Inc (AMGN), a company that has shown strong price performance over the past year, with a 26.5% increase. T
Decker Wealth Management LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,840 shares of the medical research company’s stock, valued at approximately $5,573,000.
Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares during the period. Sivia Capital Partners LLC boosted its holdings in Amgen by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock worth $331,000 after buying an additional 114 shares in the last quarter. Schnieders Capital Management LLC. grew its position in Amgen by 29.3% during the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company’s stock valued at $7,220,000 after buying an additional 5,853 shares during the period. Main Street Financial Solutions LLC grew its position in Amgen by 11.3% during the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company’s stock valued at $1,141,000 after buying an additional 416 shares during the period. Finally, Ieq Capital LLC increased its holdings in Amgen by 5.1% in the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company’s stock valued at $15,120,000 after buying an additional 2,611 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.
Trending Headlines about Amgen Here are the key news stories impacting Amgen this week:
Positive Sentiment: Amgen advanced its obesity pipeline with fresh Phase 1 data on AMG 133 injection formats, which could support long-term growth if the program continues to show promise. Amgen Advances Obesity Pipeline With Fresh Data on AMG 133 Injection Formats Positive Sentiment: Amgen’s stock was highlighted in market coverage as teasing a buy point, suggesting technical traders may see room for upside if broader market conditions stabilize. Stock Market Today: Dow Sees Red While Amgen Shares Tease A Buy Point (Live Coverage) Neutral Sentiment: Amgen remains a candidate for another earnings beat, according to recent coverage pointing to its history of topping estimates and solid fundamentals. Will Amgen (AMGN) Beat Estimates Again in Its Next Earnings Report? Neutral Sentiment: Erste Group slightly lowered its FY2027 EPS estimate for Amgen to $23.58 from $23.62 and kept a Hold rating, a modest negative for sentiment but not a major change in the outlook. Amgen Inc. (NASDAQ:AMGN) Free Report Negative Sentiment: Amgen halted a late-stage bemarituzumab gastric cancer trial, adding uncertainty to part of its oncology pipeline and pressuring investor expectations. Amgen Halts Bemarituzumab Gastric Cancer Trial, Shifting Oncology Expectations Negative Sentiment: Amgen also terminated a key Phase 3 rocatinlimab eczema study, another setback that may raise concerns about the durability of its pipeline growth. Amgen’s Rocatinlimab Eczema Trial Termination Jolts Investor Expectations Insiders Place Their Bets In related news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the sale, the senior vice president directly owned 7,009 shares in the company, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.85% of the company’s stock.
Wall Street Analysts Forecast Growth AMGN has been the subject of a number of analyst reports. Mizuho upped their price objective on shares of Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 16th. Morgan Stanley dropped their target price on Amgen from $340.00 to $333.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Argus cut their price target on Amgen from $400.00 to $375.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Truist Financial upped their price target on Amgen from $327.00 to $340.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings downgraded Amgen from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $356.62.
Check Out Our Latest Research Report on Amgen
Amgen Stock Performance AMGN opened at $366.29 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The company has a market cap of $197.69 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.71 and a beta of 0.41. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $391.29. The firm’s fifty day simple moving average is $347.69 and its two-hundred day simple moving average is $350.53.
Amgen (NASDAQ:AMGN – Get Free Report) last announced its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.77 by $0.38. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities analysts anticipate that Amgen Inc. will post 22.31 earnings per share for the current fiscal year.
Amgen Company Profile (Free Report)
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.
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Boston Common Asset Management LLC reduced its stake in shares of Amgen Inc. (NASDAQ: AMGN) by 10.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 29,640 shares of the medical research company's stock after selling 3,458 shares during the period. Boston Common Asset Management LLC's
The First Oral PCSK9 Pill Is Here The FDA’s approval of Merck (NYSE:MRK | MRK Price Prediction) enlicitide decanoate, marketed as Lipfendra, marks the first once-daily oral PCSK9 inhibitor cleared for adults with high LDL cholesterol, including heterozygous familial hypercholesterolemia. Phase 3 CORALreef trials showed LDL-C reductions of roughly 56% and 59% versus placebo. That level of efficacy in a pill (not a shot) could dramatically expand the PCSK9 market. Several companies are exposed to this shift. Let’s look at five stocks to see who actually stands to benefit most.
The Companies in the Crosshairs Beyond Merck, the key names are Amgen (NASDAQ:AMGN), which sells the injectable PCSK9 leader Repatha; AstraZeneca (NASDAQ:AZN), a cardiovascular giant with its own oral PCSK9 program; Novo Nordisk (NYSE:NVO), the oral peptide pioneer; and UnitedHealth (NYSE:UNH), whose Optum Rx pharmacy benefit arm anchors formulary decisions.
How Each Business Is Positioned Company PCSK9 Exposure Key Angle Merck Direct (LIPFENDRA) First oral entrant, diversifies beyond Keytruda Amgen Direct (Repatha) Injectable incumbent with strong outcomes data AstraZeneca Adjacent Broad cardiovascular franchise, an oral PCSK9 asset Novo Nordisk Indirect Oral cardiometabolic platform, no LDL drug UnitedHealth Payer/PBM Cheaper oral option could reshape formularies Merck reported Q1 2026 revenue of $16.29 billion, up 4.9% year over year, and needs new franchises ahead of the 2028 Keytruda patent cliff. Lipfendra fits precisely into that gap. Amgen’s Repatha continues to expand: Q1 2026 Repatha sales reached $876 million, up 34% year over year, and the Vesalius-CV trial showed a 25% reduction in major cardiovascular events in primary prevention. That outcomes data still matters to cardiologists.
AstraZeneca’s current cardiovascular revenue is heavily anchored by legacy blockbusters Crestor and Farxiga. Merck’s speedy FDA approval signals a highly receptive regulatory environment that de-risks AstraZeneca’s pipeline and creates a race for a fast-following second place. Yet Lipfendra represents an immediate, direct threat to AstraZeneca’s next-generation cardiometabolic growth strategy rather than just an abstract ecosystem shift.
Novo Nordisk’s connection is thematic. Its oral Wegovy pill validated that patients will take oral cardiometabolic drugs at scale, but Novo does not sell an LDL-lowering therapy, so exposure to the cholesterol market is indirect. For UnitedHealth, an oral PCSK9 likely carries lower administration and specialty-pharmacy costs than injectables, which helps Optum Rx manage spend and could improve adherence. Major insurers and PBMs have historically resisted injectable PCSK9 inhibitors because of their high costs and the burdensome prior-authorization paperwork required for coverage. They could use Lipfendra as leverage to force Amgen and its peers to deeply discount their injectables, ultimately improving their own profit margins.
Straight From the Earnings Calls Merck CEO Robert Davis: “We are moving with speed to transform our portfolio to one with a diversified set of growth drivers across a broad set of therapeutic areas … as we enter a particularly robust period of Phase 3 data readouts.”
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Amgen CEO Robert Bradway: “Our first quarter results demonstrate the strength of our business, with 16 brands achieving double-digit growth, enabling us to grow through expected patent expirations and increased competition.”
UnitedHealth CEO Stephen Hemsley: “Our results and outlook reflect the continuing progress in our work to simplify how we operate, improve both affordability and the health care experience.”
Davis’s commentary sounds the most catalyst-driven. Bradway leans on breadth. Hemsley’s comments align with the cost-management thesis for payers.
Who Actually Benefits Most Merck is the clearest winner. Lipfendra opens a potentially multi-billion-dollar oral cardiometabolic franchise at exactly the moment the company needs to diversify. Shares are up 24.1% year to date and 60.2% over the past year, reflecting positive market reception of the pipeline story. UnitedHealth is a quieter beneficiary, since a cheaper oral option strengthens Optum Rx’s negotiating hand. Amgen faces real competition but retains a fast-growing Repatha with strong outcomes data. AstraZeneca and Novo Nordisk have less riding on PCSK9 specifically, though both remain strong in adjacent cardiometabolic categories.
The Bottom Line The first oral PCSK9 pill changes the cholesterol treatment landscape. Merck is best positioned as the approval holder, with UnitedHealth benefiting on the payer side. Amgen keeps a defensible injectable franchise, while AstraZeneca and Novo Nordisk participate more indirectly. Investors should watch Lipfendra launch metrics, formulary placement decisions, and Repatha’s volume trajectory over the next several quarters.
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Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Amgen (AMGN - Free Report) , which belongs to the Zacks Medical - Biomedical and Genetics industry.
When looking at the last two reports, this world's largest biotech drugmaker has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 10.01%, on average, in the last two quarters.
For the most recent quarter, Amgen was expected to post earnings of $4.73 per share, but it reported $5.15 per share instead, representing a surprise of 8.88%. For the previous quarter, the consensus estimate was $4.76 per share, while it actually produced $5.29 per share, a surprise of 11.13%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for Amgen. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Amgen currently has an Earnings ESP of +1.17%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #3 (Hold) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on August 4, 2026.
With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
In the latest trading session, Amgen (AMGN - Free Report) closed at $355.25, marking a -1.44% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.38%. On the other hand, the Dow registered a gain of 0.02%, and the technology-centric Nasdaq increased by 0.9%.
Coming into today, shares of the world's largest biotech drugmaker had gained 2.83% in the past month. In that same time, the Medical sector gained 4.34%, while the S&P 500 gained 1.27%.
The investment community will be closely monitoring the performance of Amgen in its forthcoming earnings report. The company's upcoming EPS is projected at $5.55, signifying a 7.81% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $9.45 billion, reflecting a 2.9% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $22.19 per share and revenue of $37.74 billion. These totals would mark changes of +1.6% and +2.69%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Amgen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.32% lower. Amgen presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Amgen is currently exchanging hands at a Forward P/E ratio of 16.25. This denotes a discount relative to the industry average Forward P/E of 20.52.
One should further note that AMGN currently holds a PEG ratio of 3.58. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.58.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 163, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Pfizer (NYSE: PFE | PFE Price Prediction) and Amgen (NASDAQ: AMGN) both reported Q1 2026 results this quarter, and the numbers reveal two very different bets on the future of oncology. Pfizer is monetizing its Seagen deal today. Amgen is defending a biosimilar cliff while spending to rebuild growth from scratch.
Padcev Carries Pfizer. Biosimilars Bite Amgen. Pfizer’s oncology franchise pulled in $3.83 billion, up 9% year over year, led by Seagen’s crown jewel Padcev at $591 million (+39%) on first-line urothelial share gains. Lorbrena jumped 37%, Orgovyx 43%, and total launched and acquired products grew 22% operationally. That is real commercial momentum.
Amgen’s story is bifurcated. IMDELLTRA soared 219% to $258 million and UPLIZNA jumped 188%, yet legacy supportive care crumbled. Prolia fell 34% to $727 million, XGEVA dropped 27%, and Enbrel slid 37% under Medicare Part D price setting. CEO Robert Bradway framed it optimistically, noting “16 brands achieving double-digit growth, enabling us to grow through expected patent expirations”. The math is tighter than the tone suggests.
Business Driver Pfizer Amgen Oncology engine Seagen ADCs (Padcev, Tukysa) BiTE platform (IMDELLTRA) Biggest drag COVID: Comirnaty -59% Prolia biosimilars -34% Revenue growth +5.4% +5.76% Monetizing Assets vs. Rebuilding a Base Albert Bourla said Pfizer is “off to a strong start in 2026” and singled out oncology and obesity as areas where he expects Pfizer to lead. That confidence rests on existing revenue streams already booking growth. Padcev’s Phase 3 EV-304 trial showed a 47% reduction in tumor recurrence, progression or death in MIBC patients, with a PDUFA target of August 17, 2026.
Amgen’s counter is capital-intensive. MariTide obesity trials, Xaluritamig in prostate cancer, and biosimilars for KEYTRUDA and OPDIVO all require years of spend before payback. Debt sits at $57.3 billion. Amgen is pivoting heavy capital into high-risk, early-stage platforms just to defend its baseline.
The Padcev PDUFA and MariTide Readouts Will Set the Tone I will be watching Padcev’s August 17 PDUFA decision, Elrexfio’s myeloma expansion, and whether Pfizer can hold its reaffirmed $59.5 to $62.5 billion revenue guide against a $1.5 billion generic headwind. For Amgen, MariTide Phase 3 readouts and the pace of Prolia erosion matter most. Any acceleration there pressures the $37.1 to $38.5 billion full-year guide.
Why I Lean Toward Pfizer for Oncology Alpha Personally, I lean Pfizer here. You are paying a forward P/E of 8 for a business collecting cash today from Seagen assets, versus 17 for Amgen’s rebuild story. The 7.07% dividend yield compensates holders during the wait. Amgen’s stock has run 14.1% YTD while Pfizer is flat at -0.07%, which is exactly why I find PFE more interesting now. Investors focused on the growth narrative who can tolerate biosimilar drag will find Amgen’s setup more compelling. If input costs stay volatile and MFN pricing tightens, the cheaper multiple and the working oncology franchise become more attractive on a relative basis.
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Amgen (AMGN - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Shares of this world's largest biotech drugmaker have returned +2.3% over the past month versus the Zacks S&P 500 composite's +4.3% change. The Zacks Medical - Biomedical and Genetics industry, to which Amgen belongs, has gained 7.6% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, Amgen is expected to post earnings of $5.56 per share, indicating a change of -7.6% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.4% over the last 30 days.
For the current fiscal year, the consensus earnings estimate of $22.19 points to a change of +1.6% from the prior year. Over the last 30 days, this estimate has changed -0.3%.
For the next fiscal year, the consensus earnings estimate of $23.62 indicates a change of +6.4% from what Amgen is expected to report a year ago. Over the past month, the estimate has changed -0.3%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Amgen is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
In the case of Amgen, the consensus sales estimate of $9.45 billion for the current quarter points to a year-over-year change of +2.9%. The $37.74 billion and $38.55 billion estimates for the current and next fiscal years indicate changes of +2.7% and +2.1%, respectively.
Last Reported Results and Surprise HistoryAmgen reported revenues of $8.62 billion in the last reported quarter, representing a year-over-year change of +5.8%. EPS of $5.15 for the same period compares with $4.9 a year ago.
Compared to the Zacks Consensus Estimate of $8.47 billion, the reported revenues represent a surprise of +1.71%. The EPS surprise was +8.88%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.
ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Amgen is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Amgen. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
On July 13, 2026, we present a detailed DCF analysis for Amgen Inc (AMGN), a company that has shown significant price performance over the past year with a 24.6
Amgen (AMGN +0.61%) has been grabbing headlines lately, and not always for the right reasons. The company is currently engaged in a battle with the U.S. Food and Drug Administration (FDA), which has demanded that the biotech pull Tavneos, a medicine for severe anti-neutrophil cytoplasmic autoantibody-associated vasculitis (a group of rare autoimmune inflammatory diseases), from the market. The FDA is claiming that Amgen manipulated clinical trial data.
Elsewhere, Amgen has been fighting off attempts by Colorado regulators to cap the annual price of its famous psoriatic arthritis drug, Enbrel. Amgen recently won a court victory in that battle, although it probably isn't completely over yet. With all that going on, some might worry about Amgen's business and ability to maintain its dividend program intact. Should investors seek out other dividend stocks?
Image source: The Motley Fool.
A resilient business Suppose Amgen loses its dispute with the FDA and is forced to take Tavneos out of the U.S. market. Let's also assume that Colorado regulators get their way and put a price cap on Enbrel. What effect would those setbacks have on the company's financial results? The answer is that the immediate impact will be fairly minimal. In the first quarter, Enbrel's revenue was $320 million, down 37% from the year-ago period. The medicine's sales are declining largely due to Medicare price-setting under the Inflation Reduction Act, a 2022 law that gave the U.S. Centers for Medicare & Medicaid Services the authority to negotiate the prices of some of the drugs it spends the most on.
Enbrel was targeted by the first round of negotiations. This means the medicine plays a little role in Amgen's long-term growth plans, especially since it will face biosimilar competition by 2029. Price setting at the state level would accelerate the year-over-year sales decline for the immunosuppressant, but it would do little to fundamentally change Amgen's prospects (although, in fairness, it may set a dangerous legal precedent).
Regarding Amgen having to pull Tavneos from the U.S. market, the medicine was first approved in 2021 and generated $119 million in sales in the first quarter, up 32% year over year. It accounted for just 1.4% of the company's total revenue. This loss also wouldn't be that big a deal. Amgen has proven, time and time again, that it can overcome obstacles of this kind. Last year, it lost patent exclusivity for denosumab, a bone health medicine marketed under brands such as Prolia and Xgeva.
It was a meaningful growth driver, but despite this loss, the company is still performing well. In the first quarter, Amgen's revenue increased 6% year over year to $8.6 billion, while its earnings per share rose 4% to $3.34. Amgen can also overcome the headwinds it is currently facing.
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Amgen's strong pipeline Another reason to be bullish about Amgen's future is the company's pipeline. The biotech is developing several important medicines to bolster its lineup and mitigate the potential negative impact of regulatory and legal setbacks. Perhaps Amgen's most promising candidate is MariTide, an investigational GLP-1 medicine that is being developed across diabetes, weight loss, sleep apnea, cardiovascular outcomes, and more. This drug, which is undergoing several phase 3 studies, could become a leading GLP-1 therapy, especially given its differentiated profile.
MariTide is being developed for once-monthly or less frequent administration. Even with lower weight-loss efficacy than some current options, it could attract many patients and carve out a solid niche in the fast-growing GLP-1 market. And again, it isn't the only exciting pipeline candidate in Amgen's portfolio. Amgen's ability to develop newer, better products to replace older ones whose sales are dropping is another reason the company's outlook is strong.
A strong dividend track record Amgen has a robust underlying business, is posting solid financial results, and boasts a deep pipeline. In addition to all that, the company's dividend track record is pretty impressive. Amgen has increased its payouts every year since it first initiated one in 2011 -- and over the past decade, its dividend has increased by 152%. Meanwhile, the company's forward yield is 2.7%, compared with the S&P 500's average of 1.1%. Amgen may be in the news for the wrong reasons, but the company's dividend remains as safe as ever. Long-term income seekers can still count on this company.
Amgen (AMGN - Free Report) closed at $366.44 in the latest trading session, marking a -2.06% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.72%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.12%.
Prior to today's trading, shares of the world's largest biotech drugmaker had gained 7.03% lagged the Medical sector's gain of 12.48% and outpaced the S&P 500's loss of 0.9%.
Market participants will be closely following the financial results of Amgen in its upcoming release. It is anticipated that the company will report an EPS of $5.57, marking a 7.48% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $9.46 billion, showing a 3.01% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $22.26 per share and revenue of $37.77 billion, which would represent changes of +1.92% and +2.78%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Amgen. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Amgen is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Amgen has a Forward P/E ratio of 16.81 right now. This signifies a discount in comparison to the average Forward P/E of 21.56 for its industry.
We can additionally observe that AMGN currently boasts a PEG ratio of 3.7. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Biomedical and Genetics industry had an average PEG ratio of 1.74 as trading concluded yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 150, this industry ranks in the bottom 40% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Investors might want to bet on Amgen (AMGN - Free Report) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.
Therefore, the Zacks rating upgrade for Amgen basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Amgen imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for AmgenThis world's largest biotech drugmaker is expected to earn $22.26 per share for the fiscal year ending December 2026, which represents no year-over-year change.
Analysts have been steadily raising their estimates for Amgen. Over the past three months, the Zacks Consensus Estimate for the company has increased 0.3%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Amgen to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
The Amgen logo is seen in this illustration taken August 3, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
SummaryCompaniesJudge says Amgen likely to face significant, irreparable harmEnbrel price was capped at $31,200 annually, list price tops $100,000Colorado declined to commentJuly 1 (Reuters) - A federal judge on Wednesday blocked Colorado from capping the price of Amgen's (AMGN.O), opens new tab blockbuster arthritis drug Enbrel, a first-of-its-kind move by a U.S. state.
In granting a preliminary injunction, Chief Judge Daniel Domenico of the Denver federal court said Amgen would likely face significant and irreparable harm from charging lower prices, adding that it could affect the drugmaker's negotiations for future contracts with wholesalers and distributors.
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Domenico said that "as a matter of basic economic logic, Amgen is likely to be significantly harmed by a cap on the price of its product, even if the cap applies unevenly" within the supply chain.
He also said that while Colorado had a legitimate interest in helping patients afford Enbrel, and could try doing so through subsidies or negotiations to lower prices as the federal government has done, "capping the price of a patented drug" was not an option.
In October, the Colorado Prescription Drug Affordability Board capped Enbrel prices at $600 for a 50-milligram weekly dose, or $31,200 per year, effective on January 1, 2027.
The list price of Enbrel exceeds $100,000 per year. Amgen had until July 5 to decide whether to continue selling the drug in Colorado.
Genna Morton, a spokeswoman for Colorado's Division of Insurance, said the agency cannot comment on pending litigation. Amgen and its lawyers did not immediately respond to requests for comment.
The U.S. pays about three times as much as other high-income countries for branded drugs, and the federal government and states have pursued policies to keep prices down.
Enbrel, whose chemical name is etanercept, is used to treat arthritis and plaque psoriasis. It is one of Amgen's biggest drugs, accounting for $2.23 billion of sales in 2025.
The Thousand Oaks, California-based drugmaker said Colorado's cap conflicted with federal patent law, violated its due process rights under the U.S. Constitution and threatened patients' access to needed treatment.
Domenico was appointed to the bench by Donald Trump. The U.S. president has nominated Domenico to join the 10th U.S. Circuit Court of Appeals, whose jurisdiction includes Colorado.
Reporting by Jonathan Stempel in New York; Editing by Mark Porter
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Key Takeaways Medicare's GLP-1 Bridge program expands access to weight-loss drugs for eligible U.S. seniors.NVO and LLY could benefit as millions of Medicare beneficiaries become eligible for GLP-1 therapies.ETFs like OZEM offer diversified exposure to companies tied to the expanding weight-loss market. In a landmark move beginning July 1, 2026, Medicare, under its "GLP-1 Bridge" demonstration program, is set to provide eligible U.S. seniors with access to popular weight-loss medications like Wegovy, Zepbound, and Foundayo for a copay of just $50 per month. This historic decision, which sidesteps a decades-old federal law banning Medicare coverage for weight-loss drugs, is set to unlock millions of new patients for major obesity drugmakers like Novo Nordisk (NVO - Free Report) and Eli Lilly (LLY - Free Report) .
For investors, this development signals a significant catalyst for the booming weight-loss drug market. While the rally in GLP-1 giants has already been substantial, the latest Medicare coverage expansion has added a new, powerful growth driver.
For those looking to capitalize on this trend without betting on a single company, specialized Exchange-Traded Funds (ETFs) focused on GLP-1 drugs offer a compelling way to gain diversified exposure to the industry-wide rally.
To understand why these ETFs are poised to benefit, one must first grasp the scale of the obesity drug market's expansion and its growth opportunities in the United States, in addition to the specific impact of this new coverage.
The Booming U.S. Obesity Drug MarketThe U.S. weight-loss drug market has experienced explosive growth, driven by a combination of medical innovation and soaring patient demand. According to CDC data, every single U.S. state and territory maintains an obesity prevalence of 25% or higher, with the condition affecting 40% of all U.S. adults. This widespread public health crisis results in nearly $173 billion in annual healthcare expenditures, putting weight-loss drugs, commonly known as GLP-1s, at center stage.
This growth is further fueled by aggressive pipeline expansion from the industry's two dominant players. Eli Lilly recently strengthened its position with the launch of its oral GLP-1, Foundayo, in early April 2026, joining its blockbuster injection Zepbound. Novo Nordisk rolled out an oral version of its flagship Wegovy in January 2026, giving patients a convenient, non-injectable alternative.
Medicare Coverage Unlocks New Growth OpportunitiesObesity among older Americans has risen sharply, nearly doubling over the last few decades to affect roughly 40% of seniors aged 65 and older. The Medicare GLP-1 Bridge program addresses this previously untapped pool by making therapeutics affordable for a massive segment of the 69 million Medicare beneficiaries.
The financial implications are staggering. A Kaiser Family Foundation (KFF) analysis estimates that 3.8 million beneficiaries immediately meet the clinical criteria for the program. KFF projects that if even 10% to 25% of these eligible seniors participate, the program will inject between $1.3 billion and $3.3 billion directly into the market. If adoption reaches 50%, that revenue pipeline balloons up to $10 billion.
Novo Nordisk and Eli Lilly estimate that 15 to 20 million older adults in Medicare could ultimately qualify for their weight loss medications (as cited in CNBC). So, the latest Medicare Coverage of GLP-1 drugs should translate into direct revenue growth for these two drug giants.
This highly visible profit margin may also force other pharma giants to accelerate their pipelines. Pfizer (PFE - Free Report) recently finalized a massive $10 billion acquisition of obesity biotech Metsera to secure long-acting GLP-1 assets, while Amgen (AMGN - Free Report) is aggressively advancing its own experimental weight-loss therapy candidate like maridebart cafraglutide.
Weight Loss ETFs to RallyTo seamlessly capture this expanding ecosystem of the weight loss market, the following specialized ETFs featuring the obesity drug giants are poised to rally in the coming days:
Roundhill GLP-1 & Weight Loss ETF (OZEM - Free Report)
This fund, with net assets worth $54 million, offers exposure to 25 companies that are involved in the manufacturing of weight loss drugs, including GLP-1 agonists. Its top three holdings include: NVO (with 12.96% weightage), LLY (12.69%) and PFE (6.38%). AMGN holds the 10th spot in this fund, with 3.85% weightage.
OZEM has surged 27.1% over the past year. The fund charges 59 basis points (bps) as fees.
Amplify Weight Loss Drug & Treatment ETF (THNR - Free Report)
This fund, with net assets worth $4.4 million, offers exposure to 20 companies that are expected to economically benefit from weight loss drug development. Its top three holdings include: NVO (9.76%), LLY (9.26%) and Scholar Rock (5.71%). AMGN holds the seventh spot in this fund, with 4.58% weightage.
THNR has risen 11.8% over the past year. The fund charges 59 bps as fees.
Tema Heart & Health ETF (HRTS - Free Report)
This fund, with net assets worth $54.6 million, offers exposure to 45 companies advancing prevention and treatment across chronic conditions, including heart disease, diabetes, and obesity. Its top three holdings include: LLY (11.86%), UnitedHealth (5.53%) and NVO (5.22%).
HRTS has rallied 26.5% over the past year. The fund charges 75 bps as fees.
AMGN stands out compared to Biogen given its broader product portfolio, pipeline depth and steadier growth outlook despite patent and competition risks.
Amgen (AMGN - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Shares of this world's largest biotech drugmaker have returned +9.6% over the past month versus the Zacks S&P 500 composite's -2.9% change. The Zacks Medical - Biomedical and Genetics industry, to which Amgen belongs, has gained 6.3% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
Amgen is expected to post earnings of $5.57 per share for the current quarter, representing a year-over-year change of -7.4%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.4%.
For the current fiscal year, the consensus earnings estimate of $22.39 points to a change of +2.5% from the prior year. Over the last 30 days, this estimate has remained unchanged.
For the next fiscal year, the consensus earnings estimate of $23.69 indicates a change of +5.8% from what Amgen is expected to report a year ago. Over the past month, the estimate has remained unchanged.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Amgen.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
In the case of Amgen, the consensus sales estimate of $9.46 billion for the current quarter points to a year-over-year change of +3%. The $37.77 billion and $38.59 billion estimates for the current and next fiscal years indicate changes of +2.8% and +2.2%, respectively.
Last Reported Results and Surprise HistoryAmgen reported revenues of $8.62 billion in the last reported quarter, representing a year-over-year change of +5.8%. EPS of $5.15 for the same period compares with $4.9 a year ago.
Compared to the Zacks Consensus Estimate of $8.47 billion, the reported revenues represent a surprise of +1.71%. The EPS surprise was +8.88%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Amgen is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Amgen. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Alphabet (GOOG +4.96%) (GOOGL +4.79%) is shaking up the Dow Jones Industrial Average. The Google parent joined the famed index on June 29, replacing Verizon Communications and providing additional exposure to advertising, cloud computing, artificial intelligence, and information technology.
In doing so, it joins a very select group. There are thousands of stocks on the New York Stock Exchange, but only 30 are included in the Dow, an important barometer of the overall market that encompasses key sectors such as technology, finance, and consumer stocks.
There's a lot to like about Alphabet. It has a strong advertising business, with revenue from Google Search, YouTube, and the Google Network. And it has a fast-growing cloud computing segment that had 63% revenue growth in the first quarter. But one area that it's lacking is dividends -- Alphabet's dividend yield is only 0.3%, and since the company is investing so much in artificial intelligence infrastructure, it will be difficult to greatly expand its payout in the near future.
So, if you're an income investor who wants both a solid dividend payout and strong stock performance, you need to look elsewhere. Fortunately, there are three great options to consider in Cisco Systems (CSCO +3.34%), Coca-Cola (KO 0.01%), and Amgen (AMGN +0.62%). All of them are having solid years, and all are already members of the DJIA.
Image source: Getty Images.
1. Cisco Systems Cisco is a tech company that makes hardware and security infrastructure for enterprise computing and internet networking. But it's seeing renewed investor attention recently, as its AI products have helped Cisco reach -- and then exceed -- highs set at the turn of the century. The company's Silicon One platform provides programmable networking architecture and application-specific integrated circuits (ASICs) for server provider networks and AI data centers.
Revenue in the third quarter of fiscal 2026 (ended April 25) was $15.8 billion, up 12% from a year ago. Net income was $3.4 billion, up 35%, and earnings per share of $0.85 was up 37% from last year.
"We believe the trust our customers and partners place in us has never mattered more, and our technology is more relevant than ever in the AI era," CEO Chuck Robbins said. "As a result, we saw record high demand in Q3."
Cisco stock is up 47% so far this year. The stock has a dividend yield of 1.5%, which is higher than the tech sector's average of 1.37%. Cisco has increased its dividend for the last 14 years.
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2. Coca-Cola Coca-Cola built its beverage business on its namesake carbonated soft drink, but it makes a lot more than that. The Atlanta-based company has a portfolio of soft drinks, lemonade, water, tea, juices, sports drinks, coffee, and alcoholic beverages. The company says 1.9 billion servings of its products are consumed every day.
Its revenue in the first quarter was $12.5 billion, up 12% from a year ago, with higher demand for the company's beverages. Organic revenue, which does not include acquisitions, divestitures, or currency, rose 10%. All of the company's marketing segments saw volume growth in the quarter, including its home market. North America volume increased 4% from a year ago.
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Coca-Cola stock is up 18.2% this year, and the company's dividend yield is a strong 2.6%, topping the average yield of 1.9% in the consumer staples sector. Coca-Cola has raised its dividend for 65 consecutive years, putting it on the exclusive list of companies that have achieved Dividend King status (dividend growth for 50 consecutive years).
3. Amgen Amgen is a biopharmaceutical company that makes treatments for cancer, heart disease, autoimmune conditions, obesity, and more.
Its anti-obesity drug has the potential to be a significant driver. Amgen completed phase 2 trials for its drug candidate MariTide and is seeking to position it as a medicine with a less intensive dosing schedule than competing drugs already on the market. MariTide, if approved, would be administered monthly rather than weekly, unlike other anti-obesity medications.
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Revenue in the first quarter was $8.6 billion, up 6% from a year ago, and earnings per share increased 4% to $3.20. Amgen said 16 products posted double-digit sales growth in the first quarter, and 17 products are projected to exceed $1 billion in sales, based on first-quarter numbers.
Amgen stock is up nearly 10% this year and has a dividend yield of 2.8%. The company has increased its payout for 15 years, and its yield tops the 1.6% average yield for healthcare stocks.
The Amgen logo is seen in this illustration taken August 3, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
CompaniesJune 29 (Reuters) - The New England Journal of Medicine on Monday retracted an article on a pivotal clinical trial that supported approval of Amgen’s (AMGN.O), opens new tab rare-disease drug, citing concerns that patient outcome data were altered and that some researchers had been unblinded.
The journal said two academic authors of the 2021 study requested the retraction, opens new tab after a U.S. Food and Drug Administration investigation found results for nine patients were altered and some researchers were told which patients received the drug, Tavneos, and who did not.
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The changes were not disclosed in the article, said the journal.
An Amgen spokesperson said it "takes scientific integrity seriously and respects the role of journals in upholding the peer review process."
They said results of a "re-adjudication" of the trial's results by the Duke Clinical Research Institute "will be shared with the FDA as part of our hearing submission due by July 29 and submitted for publication. TAVNEOS remains on the market in the U.S."
In April, the FDA's Center for Drug Evaluation and Research (CDER) proposed withdrawing Tavneos' approval, citing a lack of proven effectiveness and false statements in its original application.
In March, the agency identified 76 cases of drug-induced liver injury with evidence suggesting a causal link to Tavneos, including seven cases of vanishing bile duct syndrome (VBDS), a rare condition that can cause permanent liver damage. Eight deaths were reported among those cases.
Tavneos was approved in October 2021 to treat a rare disease called severe active ANCA-associated vasculitis, which inflames small blood vessels and can damage organs like the kidneys and lungs.
Europe's drug regulator last week also recommended revoking the marketing authorization for the drug, citing concerns over the integrity of its trial data.
Amgen has signed up a research firm to independently review the data on Tavneos, as it seeks to prove the drug's benefits before a hearing with the FDA.
Reporting by Puyaan Singh in Bengaluru; Editing by Sahal Muhammed
Our Standards: The Thomson Reuters Trust Principles., opens new tab
The U.S. Food and Drug Administration on Friday approved Viridian Therapeutics Inc.’s (NASDAQ:VRDN) new thyroid eye disease (TED) treatment, Lumvoa (veligrotug-vvze).
The major regulatory milestone marks a significant advancement for individuals suffering from this rare and debilitating autoimmune condition, which causes severe inflammation and tissue remodeling around the eyes.
The company is preparing for an immediate commercial rollout.
Lumvoq’s FDA approval represents a key inflection point for Viridian, as the company moves from development-stage to commercial operations with its first approved therapy.
Rapid Launch And Patient Access SupportViridian intends to launch the treatment immediately, and the biotechnology firm has collaborated closely with healthcare providers, insurance payers, and various patient advocacy groups.
The immediate commercial launch is further backed by a comprehensive patient support initiative designed to help navigate treatment availability.
Clinical Trial Success For Active And Chronic PatientsThe regulatory agency approved a Priority Review designation based on data from two pivotal Phase 3 clinical trials: THRIVE, which evaluated patients with active TED, and THRIVE-2, which focused on chronic variations of the illness.
Lumvoa acts as a full antagonist of IGF-1R. Notably, it stands as the initial approved therapy for thyroid eye disease to feature official labeling data encompassing both active and chronic forms of the condition.
Both clinical trials successfully achieved all primary and secondary endpoints, demonstrating statistically significant and clinically meaningful health improvements by the 15th week.
Reduced Treatment Burden And Efficacy RatesPatients across both clinical studies underwent a specialized 12-week regimen engineered specifically to minimize the overall burden of treatment.
The therapy demonstrated a rapid onset of clinical benefits, with noticeable reductions in proptosis recorded as early as three weeks into the program.
Furthermore, Lumvoa represents the first approved medication for thyroid eye disease to exhibit a statistically significant impact on diplopia response, alongside complete resolution in both active and chronic patient groups.
Analyst Sees Market Share OpportunityAnalyst Lachlan Hanbury-Brown said Viridian’s elegrobart remains on track for a BLA filing in the first quarter of 2027 and is well-positioned to expand into the chronic patient population.
He added that the therapy could emerge as a leading option for chronic TED patients, supported by its convenient subcutaneous administration and strong clinical profile.
Combined with Viridian’s broader portfolio, elegrobart could help the company target multiple patient segments and strengthen its long-term position in the TED market.
VRDN Stock Price Activity: Viridian Therapeutics shares were up 13.79% at $20.36 during premarket trading on Monday, according to Benzinga Pro data.
Image via Shutterstock/ grandbrothers
Market News and Data brought to you by Benzinga APIs
Item 1 of 2 The logo of Amgen biopharmaceutical company hangs at the Stripe Young Scientist and Technology exhibition at the RDS, in Dublin, Ireland, January 9, 2026. REUTERS/Clodagh Kilcoyne/File Photo
[1/2]The logo of Amgen biopharmaceutical company hangs at the Stripe Young Scientist and Technology exhibition at the RDS, in Dublin, Ireland, January 9, 2026. REUTERS/Clodagh Kilcoyne/File Photo Purchase Licensing Rights, opens new tab
CompaniesJune 26 (Reuters) - The European Medicines Agency on Friday recommended revoking the marketing authorisation for Amgen's (AMGN.O), opens new tab rare autoimmune disease drug, Tavneos, citing a lack of benefits that outweigh its risks.
In April, the U.S. FDA's Center for Drug Evaluation and Research had proposed withdrawing approval of Tavneos, after identifying 76 cases of drug-induced liver injury with evidence suggesting a causal link to the drug.
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The EMA said the clinical study supporting the medicine's EU approval breached good clinical practice principles and the data were found to be incorrect, misleading and no longer reliable for demonstrating Tavneos' effectiveness.
The data collected after the drug was approved, along with additional analyses carried out after the main study, were not enough to prove the medicine's benefits, the EMA said.
Tavneos, approved in 2022 in the EU, treats anti-neutrophil cytoplasmic autoantibody-associated vasculitis, a rare group of autoimmune diseases that cause inflammation in small- to medium-sized blood vessels.
Amgen said in a statement it was "deeply concerned" about the potential impact of the recommendation and that it "continues to believe that Tavneos is an important treatment option for people living with AAV."
The company said CSL Vifor, its partner in Europe, is leading interactions with the EMA regarding the next steps for patients and healthcare providers in Europe.
The EMA's Committee for Medicinal Products for Human Use has recommended that no new patients should start treatment with Tavneos, while existing patients should be switched to suitable alternatives.
Amgen has signed up a research firm to independently review the data on Tavneos, as it seeks to prove the drug's benefits before a hearing with the FDA.
The drugmaker said the deadline for submitting the data to the FDA has been extended to July 29 from June 29.
Reporting by Christy Santhosh in Bengaluru; Editing by Shreya Biswas
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Amgen (AMGN - Free Report) closed at $351.93 in the latest trading session, marking a +1.42% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.1%. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.43%.
Shares of the world's largest biotech drugmaker witnessed a gain of 3.3% over the previous month, beating the performance of the Medical sector with its gain of 1.97%, and the S&P 500's loss of 1.34%.
Investors will be eagerly watching for the performance of Amgen in its upcoming earnings disclosure. The company is predicted to post an EPS of $5.55, indicating a 7.81% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $9.44 billion, indicating a 2.87% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $22.26 per share and a revenue of $37.82 billion, representing changes of +1.92% and +2.92%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Amgen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.01% upward. Currently, Amgen is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Amgen is presently being traded at a Forward P/E ratio of 15.59. This denotes a discount relative to the industry average Forward P/E of 21.67.
We can also see that AMGN currently has a PEG ratio of 3.5. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.52 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +24% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Amgen (AMGN - Free Report) Thousand Oaks, CA-based Amgen is one of the biggest biotech companies in the world, with a strong presence in the oncology, general medicine, inflammation and rare diseases markets. The company used advances in cellular and molecular biology to develop two of the biotech industry’s earliest and most successful drugs, Epogen (anemia) and Neupogen (white blood cell stimulant). Amgen successfully launched two next-generation products, Aranesp and Neulasta. Meanwhile, the acquisition of Immunex Corporation gave Amgen access to the multi-blockbuster drug Enbrel. However, all these older drugs are facing declining sales due to biosimilar or branded competition. Amgen’s key products are Prolia, Xgeva, Repatha, Blincyto, Vectibix, Nplate, Kyprolis, Evenity, Otezla, Aimovig, Lumakras/Lumykras, Tezspire, Imdelltra, Tavneos, Kanjinti, Mvasi and Amgevita biosimilars. However, key drugs, Prolia and Xgeva, lost patent exclusivity in 2026. Multiple biosimilars have been launched globally.
AMGN is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Medical stock. AMGN has a Momentum Style Score of A, and shares are up 5.2% over the past four weeks.
Nine analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.04 to $22.22 per share. AMGN boasts an average earnings surprise of +11.8%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, AMGN should be on investors' short list.
In the latest close session, Amgen (AMGN - Free Report) was down 1.78% at $341.66. The stock trailed the S&P 500, which registered a daily loss of 1.22%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.35%.
Coming into today, shares of the world's largest biotech drugmaker had gained 5.17% in the past month. In that same time, the Medical sector gained 4.11%, while the S&P 500 gained 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $5.55, reflecting a 7.81% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $9.44 billion, showing a 2.87% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $22.22 per share and revenue of $37.82 billion. These totals would mark changes of +1.74% and +2.92%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Amgen. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.02% upward. Amgen is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Amgen is currently exchanging hands at a Forward P/E ratio of 15.65. This signifies a discount in comparison to the average Forward P/E of 21.05 for its industry.
Meanwhile, AMGN's PEG ratio is currently 3.52. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.48.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 150, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Amgen (AMGN - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Shares of this world's largest biotech drugmaker have returned +0.1% over the past month versus the Zacks S&P 500 composite's +1.4% change. The Zacks Medical - Biomedical and Genetics industry, to which Amgen belongs, has gained 1.9% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
For the current quarter, Amgen is expected to post earnings of $5.55 per share, indicating a change of -7.8% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
For the current fiscal year, the consensus earnings estimate of $22.26 points to a change of +1.9% from the prior year. Over the last 30 days, this estimate has remained unchanged.
For the next fiscal year, the consensus earnings estimate of $23.7 indicates a change of +6.5% from what Amgen is expected to report a year ago. Over the past month, the estimate has remained unchanged.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Amgen.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
In the case of Amgen, the consensus sales estimate of $9.44 billion for the current quarter points to a year-over-year change of +2.9%. The $37.82 billion and $38.7 billion estimates for the current and next fiscal years indicate changes of +2.9% and +2.3%, respectively.
Last Reported Results and Surprise HistoryAmgen reported revenues of $8.62 billion in the last reported quarter, representing a year-over-year change of +5.8%. EPS of $5.15 for the same period compares with $4.9 a year ago.
Compared to the Zacks Consensus Estimate of $8.47 billion, the reported revenues represent a surprise of +1.71%. The EPS surprise was +8.88%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.
ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Amgen is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Amgen. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Deciding between a pharmaceutical giant and a niche medical innovator depends on your risk tolerance. Amgen (AMGN +0.66%) and NovoCure (NVCR +3.82%) offer vastly different paths to potential growth in 2026.
Amgen is a global leader in drug manufacturing, focusing on large-scale treatments for chronic conditions. NovoCure specializes in proprietary wearable technology to treat various forms of cancer. Comparing them highlights the trade-off between the steady earnings of established healthcare giants and the high-stakes potential of specialized medical technology developers.
The case for AmgenAmgen develops and sells innovative medicines for heart disease, obesity, and cancer. Its revenue is highly concentrated among three pharmaceutical wholesalers: McKesson (MCK +2.56%), Cencora (COR +3.62%), and Cardinal Health (CAH +2.77%). Customer concentration like this adds a layer of risk to the business.
In FY 2025, revenue reached nearly $36.8 billion, representing growth of approximately 10.1% compared to the previous year. The company reported net income of $7.7 billion during this period.
As of its December 2025 balance sheet, the debt-to-equity ratio is approximately 6.3x. This ratio, which compares total debt to shareholders’ equity, indicates that the company relies heavily on borrowed funds. However, Amgen generated free cash flow of about $8.1 billion in FY 2025.
The case for NovoCureNovoCure uses a direct-to-patient model for its proprietary therapy, a model unique among medical device stocks. This model generates revenue through monthly device fees for devices like Optune Gio, with a focus on patient accessibility and payer reimbursement. By bypassing traditional wholesalers, the company maintains a closer relationship with the patients using its equipment.
In FY 2025, revenue reached approximately $655.4 million, representing growth of about 8.3%. Despite the rising sales, the company reported a net loss of nearly $136.2 million for the year. This reflects the high costs associated with expanding its product reach.
Based on the December 2025 balance sheet, the company maintains a debt-to-equity ratio of nearly 0.9x. Free cash flow for FY 2025 was negative $75.7 million, indicating the business’s need for external funding to cover operating costs and capital investments.
Risk profile comparisonAmgen faces pressure from government regulation, particularly the Inflation Reduction Act, which mandates price setting for certain drugs. Ongoing tax disputes with the IRS and a $20.2 million judgment against its subsidiary create additional financial uncertainty. Furthermore, concentrated manufacturing in locations like Puerto Rico leaves the company vulnerable to natural disasters or infrastructure failures.
NovoCure relies heavily on regulatory approvals for new indications and compliance with strict international medical standards. Revenue is also tied to securing coverage from payers like Medicare, where claim denials can force the company to absorb costs. It also faces intense competition from companies developing alternative technologies and the eventual expiration of its own patents through 2041.
Valuation comparisonNovoCure currently trades at lower multiples relative to its sales and future earnings estimates than the larger, more profitable Amgen.
MetricAmgenNovoCureSector BenchmarkForward P/E15.2xN/A24.6xP/S ratio4.9x2.6xn/aSector benchmark uses the SPDR XLV sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
The Forward P/E ratio compares a stock price to future earnings estimates for the upcoming year. The P/S ratio measures the stock price relative to total annual sales.
Upstart biotech companies are exciting, and NovoCure is a no exception. The company recently got FDA approved for its Optune Pax, to treat patients with advanced localized pancreatic cancer. Its core product, Optune Gio, treats glioblastoma in people 22 or older. Both use alternating electrical fields, called Tumor Treating Fields, or TTF, to disrupt cancer growth and slow disease progression. That’s exciting.
But as a business to invest in NovoCure isn’t as exciting. For one, Wall Street doesn’t anticipate the company generating any free cash flow until fiscal 2028, meaning NovoCure will be under pressure to finance operations until then. While the company has real revenue, with $704 million projected for 2026, it’s not growing as fast as other biotech stocks.
Amgen, meanwhile, certainly isn’t a fast grower. Given its scale, it should be able to work out a roughly 3% revenue rise in 2026 to around $37.8 billion. But size forgives a lot in pharmaceuticals. For one, its billions in net income could allow Amgen to pursue growth in the future by acquiring other drugmakers. The business also has six drug franchises that generate $1 billion-plus in annual revenue. There is real value there.
Given concerns over NovoCure’s funding needs compared to Amgen’s bulk and the fact that the latter pays a nice dividend ($9.80 the past year), Amgen gets the nod.
Key Takeaways Amgen's biosimilar portfolio generated $835 million in Q1 2026 sales, up 14% year over year.New launches like Wezlana and Pavblu are helping offset declines in older biosimilar products.AMGN is advancing biosimilars to Opdivo, Keytruda and Ocrevus to tap major biologic markets. Historically known for its innovative biologic medicines such as Enbrel, Prolia and Repatha, Amgen (AMGN - Free Report) has also emerged as one of the global leaders in biosimilars. The company boasts a strong biosimilars portfolio and the business has become an increasingly important contributor to the company's top-line growth strategy. Its biosimilar portfolio spans oncology, inflammation and rare diseases.
Some of Amgen's older biosimilars — Kanjinti (a biosimilar of Roche’s [(RHHBY - Free Report) ] Herceptin), Mvasi (a biosimilar of Roche’s Avastin), Riabni (a biosimilar to Roche’s Rituxan), Avsola (a biosimilar to J&J’s [(JNJ - Free Report) ] Remicade) and Amjevita/Amgevita (a biosimilar of AbbVie’s Humira) — are seeing slowing/declining sales due to rising competitive pressure.
To combat the impact, Amgen has successfully launched biosimilars of J&J’s Stelara, called Wezlana, AstraZeneca’s (AZN - Free Report) Soliris, called Bekemv, and Regeneron’s Eylea, called Pavblu, in the past couple of years.
In the first quarter of 2026, its biosimilar products generated sales of $835 million, up 14% year over year, including $47 million from Wezlana and $280 million from Pavblu. Since the first launch in 2018, Amgen’s biosimilar drugs have delivered more than $14 billion in sales, significantly contributing to top-line growth and generating meaningful cash flows.
Amgen is also developing biosimilars referencing some of the pharmaceutical industry's largest biologics. Phase III studies are ongoing to evaluate biosimilar versions of Bristol-Myers’ Opdivo (ABP 206), Merck’s Keytruda (ABP 234) and Roche’s Ocrevus (ABP 692). These medicines collectively generate tens of billions of dollars in annual sales globally. As patents on these products expire over the next several years, biosimilars targeting them could create substantial revenue opportunities for Amgen.
Over the next few years, Amgen will face a significant patent-expiration overhang. Its own key branded products, such as Prolia, Xgeva, Enbrel and Otezla, have either already lost exclusivity or are expected to do so within the next few years. Together, these medicines accounted for roughly 30% of Amgen’s 2025 product sales, leaving the company exposed to potential revenue pressure from generic and biosimilar competition as patents expire.
Amgen’s new biosimilar launches will play a key role in mitigating the impact of LOE over the next few years, along with Amgen’s key growth drivers, which include Repatha, Evenity, Tezspire and some oncology and rare disease drugs.
While Amgen's biosimilars may not individually achieve blockbuster status comparable to leading innovative therapies, together they represent a meaningful source of recurring revenues, enhance portfolio diversification and provide access to some of the world's largest biologic markets. Over the long term, the biosimilars business is expected to remain a key pillar of Amgen's strategy, supporting a more diversified, resilient and sustainable growth profile.
AMGN’s Price Performance, Valuation and EstimatesAmgen’s stock has risen 5.3% so far this year compared with an increase of 1.3% for the industry.
Image Source: Zacks Investment Research
From a valuation standpoint, Amgen is reasonably priced. Going by the price/earnings ratio, the company’s shares currently trade at 15.02 forward earnings, which is lower than 17.05 for the industry. The stock is also trading above its five-year mean of 13.81.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for earnings has risen from $22.21 per share to $22.26 per share for 2026 over the past 60 days. For 2027, the consensus mark for earnings has risen from $23.35 to $23.70 per share over the same timeframe.
Image Source: Zacks Investment Research
Amgen has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Does the established stability of a pharmaceutical giant outweigh the explosive growth potential of a specialized cancer fighter? Investors choosing between Amgen (AMGN +0.66%) and Iovance Biotherapeutics (IOVA +9.36%) must weigh reliability against innovation.
Amgen offers a massive drug portfolio with deep roots in the medical field. Iovance is a smaller player focused on cutting-edge tumor-infiltrating lymphocyte therapies. While both operate within the medical space, their financial profiles and maturity levels create very different investment cases for those looking at the year 2026.
The case for AmgenAmgen focuses on discovering and manufacturing medicines for serious diseases across several therapeutic areas. It sells its products globally, reaching customers in more than 50 countries including major markets like Europe and Japan. The company relies heavily on three major pharmaceutical wholesalers, McKesson Corporation, Cencora, and Cardinal Health, which collectively accounted for 77% of its worldwide gross revenues in 2025. Customer concentration like this adds a layer of risk to the business.
In FY 2025, revenue reached nearly $36.7 billion, representing growth of approximately 9.9% compared to the previous year. This revenue performance supported a net income of close to $7.7 billion. The company maintained a net margin of roughly 21.0%, which measures the percentage of revenue remaining as profit after all expenses are paid. This reflects a healthy return on its massive sales volume compared to the prior fiscal year.
As of its December 2025 balance sheet, the debt-to-equity ratio stood at roughly 6.3x. This ratio compares total debt to shareholder equity, indicating the company uses significant leverage to fund its operations. The current ratio, which measures the ability to cover short-term obligations with assets that can be converted to cash within a year, was approximately 1.1x. Free cash flow, or the cash generated after paying for capital investments, was close to $8.1 billion for the year.
Iovance Biotherapeutics is among the emerging biotech stocks focusing on tumor-infiltrating lymphocyte (TIL) therapies for cancer. Its primary products, Amtagvi and Proleukin, are distributed through a network of Authorized Treatment Centers and pharmaceutical distributors. The company relies on its own internal manufacturing facility, known as the iCTC, to maintain control over its complex production process. Its success depends on the clinical adoption of these novel therapies within the oncology landscape.
During FY 2025, the company reported revenue of approximately $263.5 million, which was a 60.6% increase over the previous year. Despite this rapid growth, the company reported a net loss of nearly $391.0 million. This resulted in a net margin of negative 148.4%, illustrating that the company is still in a heavy spending phase to support its clinical development and commercial launch. This is common for younger biotechnology firms prior to achieving large-scale commercial success.
As of the December 2025 balance sheet, the debt-to-equity ratio was roughly 0.1x, indicating very low levels of debt relative to equity. Its current ratio was approximately 3.2x, suggesting a strong ability to meet short-term financial commitments with its available liquid assets. Free cash flow was negative at close to $336.2 million for the fiscal year. This negative cash flow means the company is currently using its cash reserves to fund its ongoing operations rather than generating excess cash.
Risk profile comparisonAmgen faces significant risks from government pricing regulations, such as the Inflation Reduction Act, which could mandate price setting and increase rebate obligations. It also deals with manufacturing dependencies, as a substantial portion of its production is centralized in Puerto Rico and California. Furthermore, the company faces accelerating competition from biosimilars and generics, especially as patents for key drugs like Prolia and XGEVA expire. Litigation remains a factor, as seen in recent multi-million dollar settlements and jury verdicts involving patent infringement.
Iovance Biotherapeutics faces risks related to the high complexity of manufacturing individualized TIL therapies, where any process failure could halt its product supply. The company also faces uncertainty regarding market adoption and whether insurance companies will provide adequate reimbursement for its expensive treatment regimens. Clinical development remains a major hurdle, with success dependent on ongoing trials like TILVANCE-301. Regulatory hurdles or safety concerns could limit its commercial prospects, especially as it competes in a field with large players like Novartis.
Valuation comparisonAmgen appears to be the more traditional value play with an established earnings multiple, while Iovance carries a valuation that reflects its early-stage growth profile.
MetricAmgenIovance BiotherapeuticsSector BenchmarkForward P/E15.1xN/A24.6xP/S ratio5.0x5.4xN/ASector benchmark uses the SPDR XLV sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
Which stock would I buy in 2026?I'd go with Amgen. Iovance is doing extraordinary work in cancer treatment with its Amtagvi therapy, and the science behind it is compelling. Revenue is growing quickly, and the company is expanding into new cancer indications that could significantly broaden its reach.
But Iovance is still unprofitable, and it recently missed its quarterly revenue targets. The stock sold off sharply as a result. The cash runway extends into 2028, which offers some breathing room, but this is still a company with a lot left to prove. For investors with a higher risk tolerance, it might be worth a closer look, but it's not a comfortable long-term hold for me right now.
Amgen, by contrast, is one of the most dependable names in biotech. Sixteen of its brands are growing at a double-digit rate. It keeps raising its full-year outlook, and it pays a solid dividend along the way. Biosimilar competition is a real headwind, but management is navigating it well. I’m picking the steadier ship here.
On June 15, 2026, we delve into the DCF analysis for Amgen Inc AMGN , a company that has shown strong price performance over the past year, with a 23.1% increase. The stock has also performed well in the short term, gaining 1.6% over the past week and 6.4% over the past month.
DCF Earnings-based intrinsic value of $292.40 vs current price of $355.20 (margin of safety: -21.5%) DCF FCF-based intrinsic value of $183.01 vs current price (second opinion indicates modest overvaluation) GF Score™ of 87/100 suggests high reliability of the DCF inputs What Is AMGN Worth? DCF Earnings-Based Model The DCF earnings-based model for Amgen Inc AMGN utilizes a two-stage growth model to estimate the intrinsic value of the stock. In the first stage, we project earnings growth over the next ten years, followed by a terminal phase where growth stabilizes. The model assumes a current EPS of $22.10 and a growth rate of 7.1% for the first decade.
Parameter Value Current EPS (TTM, excl. non-recurring) $22.10 10-Year Growth Rate 7.1% 10-Year Treasury Rate 4.45% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% In the growth phase (Years 1-10), the EPS is expected to grow at 7.1% per year, discounted at a rate of 11%. The calculated value for this stage is $182.49 per share. In the terminal phase (Years 11-20), growth is expected to slow to a terminal rate of 4%, also discounted at 11%, resulting in a value of $109.91 per share. The intrinsic value is then calculated by summing the growth stage value and the terminal stage value.
Stage Description Value Growth Stage (Years 1-10) EPS growing at 7.1%, discounted at 11% $182.49 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $109.91 Intrinsic Value Growth + Terminal $292.40 With the current price at $355.20, the intrinsic value of $292.40 indicates that the stock is fair valued, with a margin of safety of -21.5%. It is important to note that GuruFocus utilizes EPS excluding non-recurring items, as research shows that stock prices correlate more closely with earnings than with free cash flow. For further details, visit the AMGN DCF Calculator.
What Does the Free Cash Flow DCF Say? The free cash flow (FCF) based intrinsic value for Amgen Inc AMGN is calculated at $183.01. When comparing this to the earnings-based intrinsic value of $292.40, the two models present differing perspectives. The FCF model suggests that the stock is modestly overvalued, with a significant margin of safety of -94.1%.
How Does GF Value™ Compare to the DCF Models? The GF Value™ for Amgen Inc is calculated at $353.42, providing a third perspective on valuation. This proprietary measure from GuruFocus is derived from historical trading multiples, past business growth, and future performance estimates. The GF Value™ aligns closely with the current price, indicating that the stock is slightly overvalued. Overall, the three models present a mixed view on valuation, with the DCF earnings model suggesting fair value, the FCF model indicating modest overvaluation, and the GF Value™ suggesting slight overvaluation. For more information, visit the GF Value™ page.
What Does AMGN's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns based on backtested data from 2006-2021. Amgen Inc has a GF Score™ of 87/100, indicating strong performance across these metrics.
Metric Rating GF Score™ 87/100 Financial Strength 4/10 Profitability 10/10 Growth 9/10 Valuation 9/10 Momentum 3/10 With a predictability rank of 4/5 stars, the DCF model is considered more reliable for Amgen Inc. For further insights, visit the AMGN stock page.
Key Assumptions and Limitations It is important to note that DCF models are highly sensitive to assumptions regarding growth rates and discount rates. Stocks with lower predictability ratings tend to produce less reliable DCF estimates. The terminal growth rate of 4% used in the model is a simplifying assumption that may not reflect actual future performance.
What This Means for Investors In synthesizing the three valuation models—DCF earnings, DCF FCF, and GF Value™—the consensus indicates that Amgen Inc is currently fair valued based on the earnings model, modestly overvalued according to the FCF model, and slightly overvalued according to the GF Value™. Overall, investors should approach with caution. For the full DCF analysis, visit the AMGN DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.
Frequently Asked Questions What is AMGN's intrinsic value based on DCF?
earnings-based $292.40, FCF-based $183.01
Is AMGN overvalued or undervalued?
Based on the DCF and GF Value™ consensus, AMGN appears to be slightly overvalued.
How reliable is the DCF model for AMGN?
With a predictability rank of 4/5, the DCF model is considered reliable for AMGN.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
The case, originally filed in 2021 by Harbour Antibodies, asserted that Amgen and Teneobio (an Amgen subsidiary) infringed patents protecting Harbour's groundbreaking antibody discovery platform Delaware jury finds infringement willful and patent valid, and awards full $20.2 million in damages; the findings of willful infringement also entitle the Company to petition the judge to treble the award, potentially increasing the award to up to $60.6 million Harbour BioMed will continue to enforce its broader patent portfolio, with a focus on another patent with substantially greater financial implications—potentially representing up to ten times the damages awarded in this case The verdict represents a complete victory for Harbour BioMed, validating the strength of its proprietary transgenic rodent technology and its commitment to protecting scientific innovation , /PRNewswire/ -- Harbour BioMed (the "Company"; HKEX: 02142), a global biopharmaceutical company focused on the discovery and development of novel antibody therapeutics in immunology, oncology and other areas, today announced that a jury in the United States District Court for the District of Delaware has returned a decisive verdict in the Company's favor in the patent infringement lawsuit against Amgen Inc., and Teneobio, Inc. (an Amgen subsidiary) (together, "Amgen").The verdict represents a complete victory for Harbour BioMed, validating the strength of its proprietary transgenic rodent technology and its commitment to protecting scientific innovation.
The case, originally filed in 2021 by Harbour Antibodies (a member of the Harbour BioMed group), asserted that Amgen infringed patents protecting the Company's antibody discovery platform, a groundbreaking invention made by Professor Frank Grosveld, a founder of Harbour Antibodies, (each, "Grosveld Patent"). As one of the most influential intellectual property disputes in the global antibody technology field, this case has drawn significant industry attention since it was filed. After several years of litigation, the case proceeded to jury trial beginning June 8, 2026.
Prior to the trial, responding to a Court's ruling, the Company swiftly pivoted its litigation strategy and adopted a focused two-pronged approach: aggressively pursuing the case on one patent at trial, while simultaneously preparing to appeal the Court's ruling on another to the U.S. Court of Appeals for the Federal Circuit. This strategy allowed the Company to maintain momentum to secure patent protection for the Company's technology while preserving the opportunity to enforce broader claims.
During the trial, Harbour presented a compelling case. After hearing the evidence and closing arguments, the jury deliberated for just three hours before returning a unanimous verdict finding in the Company's favor on all counts:
Amgen infringed Grosveld Patent; The infringement was willful; Grosveld Patent is valid; and Harbour is entitled to $20,203,704 in damages—the full amount requested. The findings of willful infringement also entitle the Company to petition the judge to treble the award, potentially increasing the award to up to $60.6 million. This outcome is particularly significant in the District of Delaware, where large jury awards in complex patent cases are relatively uncommon.
"This is an epic victory for Harbour BioMed, reaffirming the company as the true innovator behind this transformative technology," said Dr. Jingsong Wang, Founder, Chairman and CEO of Harbour BioMed. "The jury's finding of willful infringement sends a clear message that scientific innovation must be respected, regardless of the size of the company behind it. It demonstrates our resilience, strategic discipline, and unwavering commitment to ensuring that groundbreaking scientific contributions are recognized, respected, and fairly compensated. This textbook victory in the patent battle will also mark a new chapter for the global antibody patent landscape."
Looking ahead, Harbour BioMed will continue to enforce its broader patent portfolio, with a focus on another patent with substantially greater financial implications—potentially representing up to ten times the damages awarded in this case. The company also remains committed to protecting its intellectual property on multiple fronts.
About Harbour BioMed
Harbour BioMed (HKEX: 02142) is a global biopharmaceutical company committed to the discovery and development of novel antibody therapeutics in immunology, oncology and other areas. The Company is building a robust portfolio and differentiated pipeline through internal R&D capability, strategic global collaborations in co-discovery and co-development, and selective acquisitions.
Our proprietary antibody technology platform, Harbour Mice®, generates fully human monoclonal antibodies in both the conventional two heavy and two light chain (H2L2) format and the heavy chain-only (HCAb) format. Building upon HCAb antibodies, the HCAb-based immune cell engagers (HBICE®) bispecific antibody technology enables tumor-killing effects that traditional combination therapies cannot achieve. The HCAb-based Antibody Plus technology (HCAb PLUS™) provides comprehensive modality solutions for the development of innovative multi-specific medicines in different disease areas. Additionally, building upon the Harbour Mice® platform, Harbour BioMed launched its first fully human Generative AI HCAb Model powered by its Hu-mAtrIx™ AI platform, accelerating the development of innovative therapies.
By integrating Harbour Mice®, HBICE®, HCAb PLUS™, a single B-cell cloning platform and AI technologies, Harbour BioMed has built a highly efficient and distinctive antibody discovery engine for developing next-generation therapeutic antibodies. For more information, please visit www.harbourbiomed.com.
Drugmakers are only months into introducing GLP-1 pills and navigating huge changes in how patients pay for weight-loss drugs.
Even so, they're already outlining their visions for the future of obesity drugs.
At the American Diabetes Association's Scientific Sessions in New Orleans last week, drugmakers pitched doctors and investors on the idea of new shots and pills, drugs that can be taken less frequently, and new treatments beyond GLP-1s that could come with fewer side effects. The attendees debated where all these new treatments might fit in, especially with Eli Lilly currently dominating the market for shots and impressing attendees with data from its experimental triple-acting drug retatrutide that produced the most weight loss seen yet.
Lilly and rival Novo Nordisk showcased new GLP-1 pills they each introduced earlier this year. Both companies made the case that oral options are bringing more people into the market for weight loss drugs, with Novo touting that prescriptions of its Wegovy pill reached more than 3 million just five months into the launch.
Behind the two market leaders are a wave of new entrants hoping to get into the massive market in the coming years.
Structure Therapeutics and AstraZeneca each shared mid-stage data from their respective GLP-1 pills. Should those oral drugs succeed in Phase 3 trials, they would likely come to the market around 2029, three years behind Lilly, which introduced its small molecule pill Foundayo earlier this year (the Wegovy pill is an oral peptide).
Structure Therapeutics CEO Ray Stevens thinks there will still be plenty of room in the market by then.
"Who wins at the end of the day with competition? Patients, and that's really what this is all about," Stevens said, adding that being the second small molecule drug will be important. "We're really pushing hard to get into that second position behind orforglipron, now Foundayo."
Pfizer also unveiled mid-stage data from a shot it gained through its $10 billion acquisition of Metsera. The drug showed the potential to be given monthly, which Pfizer thinks would be more convenient than the currently weekly shots. Another drugmaker, Amgen, is testing a different drug that could be given monthly or possibly even quarterly.
Susan Sweeney, Amgen's executive vice president of obesity and related conditions, said the company sees an advantage in people not needing to take a weekly injection and instead thinking about treatment as little as four times a year.
"For somebody who's lived with obesity for a long time, it can be a major advantage in not remembering your disease," she said.
Some companies are looking beyond GLP-1 and other hot targets like GIP and glucagon to emerging areas like amylin, another hormone produced in the pancreas that helps people feel full. One company is Zealand Pharma, which presented mid-stage data from a drug called petrelintide that it's developing with Roche.
The experimental shot helped people lose almost 11% of their body weight -- less than the currently available injections Wegovy and Zepbound. But Zealand touted that fewer people taking the drug vomited than those in the placebo group.
"I truly believe that when these amylin [drugs] launch, we can have that, what I've described as an iPhone moment, because patients are so aware of the experience they have on the GLP-1s, and once you launch a new modality that gives you a better experience, people will queue up to get access to that new weight loss medication rather than staying on the more cumbersome medicines," said Zealand CEO Adam Steensberg.
Like the other potential new entrants, it will be years before Zealand's drug becomes available. Market leader Lilly is developing its own amylin analogue called eloralintide that's already in Phase 3 trials.
At this year's ADA, Lilly also presented Phase 3 results from its triple agonist retatrutide. That drug activates the GLP-1, GIP and glucagon receptors, producing dramatic weight loss.
At the highest dose, people lost an average of 28% of their body weight when they took retatrutide and stayed on it as prescribed in the trial. Lilly CEO Dave Ricks sees the drug a way to help people with a body mass index over 40, or the highest classification of obesity, achieve a healthy weight, something that's not possible if they have an average response to Lilly's current shot Zepbound.
"We showed what's possible, which is meaningful: Almost half the people lose more than 30% of their body weight," Ricks said. "So if you do start at a higher level, you can really get to a more healthy state, which is everyone's goal, I think."
Beyond Lilly and Novo?Investors are now trying to figure out whether the market will remain a duopoly between Lilly and Novo or whether the potential new entrants will become significant players. The newcomers point to the fact that about 2.5 billion people in the world are considered overweight, and 890 million are considered obese, according to statistics from the World Health Organization.
"The big question is not the volume, it's really the pricing," said Goldman Sachs analyst Asad Haider. "Where does that end up?"
Lilly and Novo have cut the price of their weight loss shots over the past year as they compete against one another and compounding pharmacies that sell less expensive knockoff versions of their drugs. Both Lilly and Novo are also trying to improve health insurance coverage of GLP-1 drugs for weight loss.
In a few weeks, millions of seniors on Medicare will be able to access the medicines for $50 a month out of pocket.
Novo Nordisk CEO Mike Doustdar thinks that in the coming years obesity will look like mental health once did, where people labeled it as one condition.
"Today that's depression, to bipolar, to schizophrenia, to many, many different issues with very distinct, different medications, and support for the patients. We view obesity that way," he said.
With so many drugs in the pipeline, the future of treating obesity, and who uses which treatment, could look very different. At least that's what drugmakers trying to gain a bigger share of the market hope.
/PRNewswire/ -- Компания Amgen (NASDAQ: AMGN) сегодня объявила, что Европейская комиссия (ЕК) выдала регистрационное удостоверение на препарат IMDYLLTRA
THOUSAND OAKS, Calif., June 4, 2026 /PRNewswire/ -- Amgen (NASDAQ:AMGN) will present at the Goldman Sachs 47th Annual Global Healthcare Conference at 9:20 a.m.
Amgen NASDAQ: AMGN executives used a Jefferies investor conference appearance to emphasize the company's first-quarter growth, its late-stage pipeline and its preparations for potential launches, including the obesity candidate MariTide.
Amgen Inc. is upgraded to a cautious Buy, reflecting improved fundamentals, a diversified pipeline, and a decent risk/reward profile despite recent underperformance versus the S&P. Key growth drivers include Imdelltra, Uplizna, Tepezza, Repatha, and the promising but unproven Maritide, offsetting declines from legacy drugs like Prolia. AMGN's robust R&D pipeline, margin expansion, and capital investments are positioning the company for sustained long-term growth, though high debt and capex warrant monitoring.
Explore the exciting world of Amgen (AMGN +1.15%) with our contributing expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities!
VESALIUS-CV Subgroup Results Show Repatha ® Reduces Risk of First Major Cardiovascular Events by 29% in People Living with High-Risk Diabetes New Real-World Data Highlight Treatment Gaps in Current Obesity and Diabetes Care THOUSAND OAKS, Calif., June 7, 2026 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced new data at the American Diabetes Association (ADA) 86th Scientific Sessions reinforcing its commitment to addressing unmet needs for people living with cardiometabolic conditions and improving patient outcomes.
More employers and health plans are balking at paying for costly GLP-1 drugs like Ozempic, Zepbound and Wegovy for weight loss and the treatment of obesity, according to a new report.
Amgen NASDAQ: AMGN executives said the company's first-quarter performance supports its view that 2026 can serve as a “springboard year,” with growth products helping offset increased competition for the denosumab franchise and other losses of exclusivity.
