Amgen Inc. (AMGN)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Amgen Inc. (AMGN) trades at $374.15 with AI Score 83/100 (Grade A+). Amgen Inc. is a leading biotechnology company focused on discovering, developing, and delivering innovative human therapeutics. Market cap: $201.93B, Sector: Healthcare.
Price live · AI analysis from May 10, 2026AMGN stock analysis for 2026: Analysts have set a consensus price target of $343.85 for Amgen Inc., suggesting 8.1% downside from the current price of $374.15. The AI MoonshotScore is 83/100, indicating a strong bullish outlook. Key factors: analyst coverage, AI-driven quantitative scoring.
AMGN: 4/7 perspectives are bullish. Dominant signal: Gross Margin strong.
How is this calculated? →Amgen Inc. (AMGN) Healthcare & Pipeline Overview
Amgen Inc. (AMGN) is a global biotechnology leader specializing in human therapeutics across diverse fields like oncology, inflammation, and cardiovascular disease. With a robust product portfolio and strategic collaborations, Amgen distributes through wholesale and direct-to-consumer channels, maintaining a strong market presence and a $201.93B market capitalization.
What Is the Investment Thesis for AMGN?
Amgen presents a compelling investment case driven by its robust product portfolio, strategic collaborations, and focus on innovative therapeutics. With a market capitalization of $201.93B and a P/E ratio of 23.3, Amgen demonstrates financial stability and growth potential. The company's strong gross margin of 71.5% and profit margin of 20.9% highlight its operational efficiency. Key growth catalysts include the ongoing development and commercialization of new drugs, such as KHK4083 for atopic dermatitis, and expansion in key therapeutic areas like oncology and cardiovascular disease. Amgen's dividend yield of 2.91% provides an attractive return for investors. However, potential risks include patent expirations and increasing competition from biosimilars, which could impact revenue streams. Successful navigation of regulatory pathways and strategic lifecycle management of key products are crucial for sustaining long-term growth.
Based on FMP financials and quantitative analysis
AMGN Key Highlights
- Market capitalization of $201.93B, reflecting Amgen's significant market presence and investor confidence.
- P/E ratio of 23.3, indicating a reasonable valuation relative to earnings.
- Gross margin of 71.5%, showcasing efficient cost management and strong pricing power.
- Profit margin of 20.9%, demonstrating effective operational performance and profitability.
- Dividend yield of 2.91%, providing a steady income stream for investors.
Who Are AMGN's Competitors?
AMGN is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| NVS Novartis AG | $159.90 | +3.74% | $305.10B | 57 |
| MRK Merck & Co., Inc. | $129.52 | +3.31% | $319.89B | 83 |
| NVO Novo Nordisk A/S | $50.43 | +3.40% | $224.10B | 51 |
| GILD Gilead Sciences, Inc. | $131.27 | +4.21% | $162.98B | 94 |
| PFE Pfizer Inc. | $24.32 | +1.84% | $138.61B | 64 |
| ORINY Orion Oyj | $38.86 | +0.00% | $21.87B | 64 |
| ORINF Orion Oyj | $82.75 | +0.00% | $11.66B | 63 |
| AZN AstraZeneca PLC | $195.15 | +6.14% | $302.65B | 61 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are AMGN's Key Strengths?
- Strong product portfolio with established blockbuster drugs.
- Robust research and development pipeline.
- Global presence and distribution network.
- Strategic collaborations and partnerships.
What Are AMGN's Weaknesses?
- Reliance on a few key products for revenue.
- Exposure to patent expirations and biosimilar competition.
- High research and development costs.
- Regulatory challenges and pricing pressures.
What Could Drive AMGN Stock Higher?
- Potential FDA approval of new drug candidates in the pipeline by Q4 2026.
- Continued expansion of biosimilar portfolio to drive revenue growth throughout 2026.
- Strategic collaborations and partnerships to enhance research and development efforts.
What Are the Key Risks for AMGN?
- Patent expirations of key drugs leading to revenue decline.
- Increasing competition from biosimilars impacting market share.
- Regulatory challenges and delays in drug approval processes.
- Pricing pressures and healthcare reforms affecting profitability.
What Are the Growth Opportunities for AMGN?
- Expansion in Oncology: Amgen has significant growth opportunities in the oncology space, driven by innovative therapies like KYPROLIS and BLINCYTO. The global oncology market is projected to reach $286.6 billion by 2030, offering substantial revenue potential. Amgen's strategic collaborations and focus on developing novel cancer treatments position it well to capture a significant share of this expanding market. The ongoing clinical trials and potential approvals for new oncology drugs represent key catalysts for future growth.
- Cardiovascular Disease Therapeutics: Amgen's Repatha, a cholesterol-lowering drug, addresses a significant unmet need in cardiovascular disease. The global cardiovascular drugs market is expected to reach $65.8 billion by 2027. With increasing awareness of cardiovascular risks and the growing prevalence of related conditions, Amgen has the opportunity to expand its market share through targeted marketing and clinical data demonstrating the long-term benefits of Repatha. Further research and development in this area could lead to new innovative therapies.
- Collaboration with Kyowa Kirin: The collaboration with Kyowa Kirin to develop and commercialize KHK4083, a Phase 3-ready anti-OX40 antibody for atopic dermatitis and other autoimmune diseases, presents a significant growth opportunity. The atopic dermatitis market is projected to reach $16.1 billion by 2027. This partnership allows Amgen to leverage Kyowa Kirin's expertise and expand its presence in the dermatology and autoimmune disease markets, potentially generating substantial revenue upon successful commercialization.
- Advancements in Biosimilars: Amgen is actively involved in the development and commercialization of biosimilars, which offer a cost-effective alternative to branded biologics. The global biosimilars market is expected to reach $100 billion by 2025. Amgen's portfolio of biosimilars, including MVASI and KANJINTI, allows it to capitalize on the increasing demand for affordable healthcare solutions and gain market share as patents for existing biologics expire. Strategic investments in biosimilar development and manufacturing will be crucial for sustained growth.
- Strategic Partnerships and Acquisitions: Amgen's strategy of forming strategic partnerships and pursuing targeted acquisitions provides opportunities to expand its product portfolio and access new technologies. The collaboration with BeiGene, Ltd. and research and development collaborations with Neumora Therapeutics, Inc. and Plexium, Inc. exemplify this approach. By partnering with innovative companies, Amgen can accelerate the development of novel therapies and strengthen its competitive position in key therapeutic areas. Continued strategic alliances will be essential for driving long-term growth and innovation.
What Opportunities Does AMGN Have?
- Expansion into new therapeutic areas.
- Growth in emerging markets.
- Development of innovative biosimilars.
- Strategic acquisitions and partnerships.
What Threats Does AMGN Face?
- Increasing competition from generic drugs and biosimilars.
- Stringent regulatory requirements and approval processes.
- Pricing pressures and healthcare reforms.
- Economic downturns and market volatility.
What Are AMGN's Competitive Advantages?
- Strong intellectual property protection through patents.
- Extensive research and development capabilities.
- Established distribution network.
- Brand recognition and reputation for quality.
- Economies of scale in manufacturing.
What Does AMGN Do?
Amgen Inc., founded in 1980 and headquartered in Thousand Oaks, California, is a pioneering biotechnology company dedicated to discovering, developing, manufacturing, and delivering innovative human therapeutics. The company's evolution has been marked by a focus on addressing serious illnesses across a range of therapeutic areas, including inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience. Amgen's diverse product portfolio includes well-known drugs such as Enbrel, used to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, which reduces the risk of infection in cancer patients with low white blood cell counts; and Prolia, a treatment for postmenopausal women with osteoporosis. Other key products include Xgeva, Otezla, Aranesp, KYPROLIS, and Repatha. Amgen distributes its products through pharmaceutical wholesale distributors and direct-to-consumer channels, serving healthcare providers such as physicians, dialysis centers, hospitals, and pharmacies. The company has established strategic collaborations with entities like Novartis Pharma AG, UCB, Bayer HealthCare LLC, and BeiGene, Ltd., enhancing its research and development efforts and expanding its market reach. Amgen continues to innovate and address unmet medical needs, solidifying its position as a leader in the biotechnology industry.
What Products and Services Does AMGN Offer?
- Discovers novel human therapeutics.
- Develops innovative medicines for serious illnesses.
- Manufactures pharmaceutical products.
- Delivers therapies to healthcare providers and patients worldwide.
- Focuses on areas like oncology, inflammation, and cardiovascular disease.
- Markets drugs such as Enbrel, Neulasta, and Prolia.
- Distributes products through wholesale and direct-to-consumer channels.
How Does AMGN Make Money?
- Develops and patents proprietary drugs.
- Generates revenue through the sale of pharmaceutical products.
- Forms strategic collaborations to expand research and development.
- Reinvests profits into research and development for new therapies.
What Industry Does AMGN Operate In?
Amgen operates in the highly competitive and innovative drug manufacturing industry. The market is characterized by rapid technological advancements, stringent regulatory requirements, and intense competition from both established pharmaceutical companies and emerging biotech firms. The industry is driven by increasing healthcare expenditure, an aging global population, and the growing prevalence of chronic diseases. Amgen competes with major players like Novartis AG (NVS), Merck & Co., Inc. (MRK), and Pfizer Inc. (PFE). The company's success depends on its ability to innovate, secure regulatory approvals, and effectively commercialize its products in a dynamic market environment.
Who Are AMGN's Key Customers?
- Physicians and their clinics.
- Dialysis centers.
- Hospitals.
- Pharmacies.
Amgen Inc. Financial Trajectory
Amgen Inc. (AMGN) reported $8.62B in revenue for Q1 2026, a decline of 12.9% compared to the prior quarter. The company recorded net income of $1.82B, with diluted EPS of $3.34. Quarter-over-quarter revenue has been mixed, typical for a mega-cap company operating in Healthcare. Across the four most recent quarters, AMGN averaged $3.59 in diluted EPS.
Company Profile
Amgen Inc. operates in the Drug Manufacturers - General industry within the Healthcare sector. It is headquartered in Thousand Oaks, US. The company is led by CEO Robert A. Bradway. AMGN has traded publicly since 1983.
How Amgen Inc. Is Valued
Amgen Inc. carries a market capitalization of $201.93B, placing it in the mega-cap category. Relative to its peer group, AMGN's quantitative score of 83/100 is above the peer average of 70/100.
ROE 89%Key Financial Metrics
Return on equity for Amgen Inc. stands at 89.4%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 8.4%, showing how much profit it generates from its asset base. AMGN trades at a trailing price-to-earnings ratio of 23.32, roughly in line with the Healthcare sector average of ~23x. Its free cash flow yield is 4.7%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.26 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 4.3%, the inverse of the P/E and a quick read on earnings relative to price.
F-Score 8/9Financial Health
Amgen Inc.'s Piotroski F-Score is 8/9, a 9-point checklist of profitability, leverage and efficiency — signaling solid underlying fundamentals. Its Altman Z-Score of 1.99 places it in the grey zone, a middle ground that warrants monitoring.
FY2026 estForward Outlook
Wall Street analysts project Amgen Inc. revenue of about $37.77B for fiscal 2026, with EPS near $22.38. The estimate reflects 24 contributing analysts.
Net buyingInsider Activity
Over the past six months, Amgen Inc. insiders filed 30 SEC Form 4 transactions — 14 sales and 16 purchases. On net that is roughly 116K shares acquired (about $30.7M) — insiders putting money in tends to read as conviction.
AMGN Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Amgen's recent insider buying indicates strong confidence from leadership about the company's future prospects.
- Community sentiment has shifted positively as recent drug approvals and pipeline advancements have generated excitement among investors.
- Market perception has improved as Amgen continues to expand its product offerings, which is seen as a strong growth strategy.
- Analysts highlight Amgen's robust R&D capabilities, suggesting that innovative therapies could drive significant future revenue.
Bear Case
- Recent negative sentiment in the community stems from concerns over potential pricing pressures from new legislation affecting the pharmaceutical industry.
- There are worries about competition in the biotech space, particularly from emerging companies with similar therapies.
- Some analysts point to the company's dependence on a few key products, raising concerns about revenue sustainability if those products face challenges.
- Overall market volatility and economic uncertainty have led to cautious sentiment, impacting investor confidence in Amgen's stock.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
From the Earnings Call
“We expect 2026 total revenues in the range of $37.1 billion to $38.5 billion and non-GAAP earnings per share to be between $21.70 and $23.10.”
— Peter Griffith
“Together, they generated 70% of our sales in the quarter and grew in aggregate by 24%.”
— Robert Bradway
AMGN Q1 FY2026 earnings call transcript · 2026-04-30
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $8.62B | $1.82B | $3.34 |
| Q4 2025 | $9.90B | $1.33B | $2.45 |
| Q3 2025 | $9.56B | $3.22B | $5.93 |
| Q2 2025 | $9.17B | $1.43B | $2.65 |
Based on FMP financials and quantitative analysis
AMGN Latest News
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Warren Says Trump's Law Pushed 2 Million-Plus Children Off Medicaid, CHIP Across States
benzinga · Jul 5, 2026
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Amgen (AMGN) Stock Is Up, What You Need To Know
Yahoo! Finance: AMGN News · Jul 3, 2026
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Amgen Wins Preliminary Injunction to Block Colorado From Imposing Price Cap on Arthritis Drug
MT Newswires · Jul 2, 2026
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Micron, Palo Alto, Apple And A Health Care Stock On CNBC’s ‘Final Trades’
benzinga · Jul 1, 2026
AMGN Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for AMGN.
Price Targets
Consensus target: $343.85
AMGN MoonshotScore
What does this score mean?
The MoonshotScore rates AMGN's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Latest News
Warren Says Trump's Law Pushed 2 Million-Plus Children Off Medicaid, CHIP Across States
Amgen (AMGN) Stock Is Up, What You Need To Know
Amgen Wins Preliminary Injunction to Block Colorado From Imposing Price Cap on Arthritis Drug
Micron, Palo Alto, Apple And A Health Care Stock On CNBC’s ‘Final Trades’
Latest Amgen Inc. Analysis
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5 min readLeadership: Robert A. Bradway
Chairman and Chief Executive Officer
Robert A. Bradway has served as Chairman and Chief Executive Officer of Amgen since May 2012. Prior to this, he held various leadership positions within the company, including President and Chief Operating Officer. Bradway joined Amgen in 2006 as Vice President, Corporate Strategy. Before Amgen, he was a managing director at Morgan Stanley in investment banking, focusing on the healthcare industry. He holds a BA in biology from Amherst College and an MBA from Harvard University.
Track Record: Under Robert Bradway's leadership, Amgen has focused on strategic acquisitions and partnerships to expand its product portfolio and pipeline. He has overseen the successful launch of several key products and has guided the company through significant regulatory and market challenges. Bradway has also emphasized innovation and efficiency, driving Amgen's growth in key therapeutic areas such as oncology and cardiovascular disease.
What Investors Ask About Amgen Inc. (AMGN) — Healthcare
What does Amgen Inc. do?
Amgen Inc. is a global biotechnology company that discovers, develops, manufactures, and delivers innovative human therapeutics. The company focuses on addressing serious illnesses across a range of therapeutic areas, including oncology, inflammation, cardiovascular disease, nephrology, and neuroscience. Amgen's products are distributed worldwide through pharmaceutical wholesale distributors and direct-to-consumer channels, serving healthcare providers such as physicians, dialysis centers, hospitals, and pharmacies. The company's business model revolves around developing and commercializing proprietary drugs, reinvesting profits into research and development, and forming strategic collaborations to expand its reach and capabilities.
What do analysts say about AMGN stock?
Analyst consensus on AMGN stock reflects a generally positive outlook, driven by the company's robust product portfolio, strong financial performance, and growth potential in key therapeutic areas. Key valuation metrics, such as the P/E ratio of 23.3, indicate a reasonable valuation relative to earnings. Analysts consider Amgen's strategic collaborations, pipeline development, and biosimilar expansion as key growth drivers. However, potential risks include patent expirations, increasing competition, and regulatory challenges. Analyst ratings and price targets vary, reflecting different perspectives on Amgen's future performance, but the overall sentiment suggests a favorable long-term outlook.
What are the main risks for AMGN?
Amgen faces several key risks, including patent expirations of major drugs, which could lead to a decline in revenue as generic versions enter the market. Increasing competition from biosimilars also poses a threat, as these lower-cost alternatives can erode market share. Regulatory challenges and delays in drug approval processes can impact the company's ability to bring new products to market. Pricing pressures and healthcare reforms may affect profitability, as governments and payers seek to reduce healthcare costs. Additionally, economic downturns and market volatility could impact investor sentiment and stock performance.
How does Amgen Inc. navigate regulatory approval processes?
Amgen navigates regulatory approval processes by maintaining rigorous clinical trial standards and engaging proactively with regulatory agencies such as the FDA and EMA. The company invests heavily in clinical research to demonstrate the safety and efficacy of its drug candidates. Amgen also employs a dedicated regulatory affairs team that manages the submission and review process, addressing any concerns or requests from regulatory bodies. A strong track record of compliance and a commitment to transparency are crucial for securing timely approvals and maintaining a positive relationship with regulatory agencies. Successful navigation of these processes is essential for bringing new therapies to market and sustaining long-term growth.
How does Amgen Inc. manage patent expiration risks?
Amgen manages patent expiration risks through a multi-faceted approach that includes developing new innovative therapies, expanding its biosimilar portfolio, and strategically managing the lifecycle of its existing products. The company invests heavily in research and development to create novel drugs with patent protection. Amgen also focuses on developing biosimilars to capitalize on the expiration of patents for competitor drugs. Lifecycle management strategies, such as reformulating existing drugs or developing new indications, can extend the revenue-generating potential of key products. By diversifying its product portfolio and proactively addressing patent expiration risks, Amgen aims to mitigate the impact on its revenue streams and sustain long-term growth.
What are the key factors to evaluate for AMGN?
Amgen Inc. (AMGN) holds an AI score of 83/100 (high). P/E: 23.3x vs the S&P 500's ~20-25x. Analysts target $343.85 (-8%). Not financial advice.
How frequently does AMGN data refresh on this page?
AMGN prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven AMGN's recent stock price performance?
Amgen Inc. (AMGN) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Strong product portfolio with established blockbuster drugs. See the News tab for the latest drivers. Past performance does not predict future results.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on publicly available sources and may be subject to change.
- Financial data is as of 2026-05-10.