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

Amgen (NASDAQ:AMGN) issued its quarterly earnings data on Tuesday. The medical research company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67, Zacks reports. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned $6.02 EPS. Amgen updated its FY 2026 guidance to 22.300-23.500 EPS.

Here are the key takeaways from Amgen’s conference call:

• Amgen raised its 2026 guidance, now expecting revenue of $38.2 billion–$39.4 billion and non-GAAP EPS of $22.30–$23.50, supported by strong first-half execution.
• The six key growth drivers grew 26% collectively and represented nearly 70% of product sales, led by Repatha (+37%), EVENITY (+38%), TEZSPIRE (+42%), UPLIZNA (+90%), IMDELLTRA (+115%), and biosimilars (+29%).
• Prolia and XGEVA sales fell 33% year over year to $1.1 billion as multiple biosimilar competitors launched, highlighting ongoing pressure from loss of exclusivity.
• Amgen reported continued progress across its late-stage pipeline, including Phase III programs for MariTide, olpasiran, xaluritamig, and expanded indications for UPLIZNA, TEZSPIRE, and IMDELLTRA that could support longer-term growth.
• The company plans significant reinvestment, including high-single-digit R&D growth, approximately $2.6 billion in 2026 capital expenditures, and higher third-quarter operating expenses; it also discontinued Phase I obesity asset AMG 513 while maintaining a high bar for the MariTide program.

Amgen Stock Up 3.1%

Shares of NASDAQ AMGN traded up $11.76 during mid-day trading on Tuesday, hitting $390.63. The company had a trading volume of 3,572,609 shares, compared to its average volume of 2,379,528. 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 firm has a 50-day simple moving average of $358.49 and a two-hundred day simple moving average of $354.79. The company has a market capitalization of $210.83 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 3.83 and a beta of 0.41. Amgen has a one year low of $269.77 and a one year high of $398.00.

Amgen Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMGN. Sfam LLC bought a new stake in shares of Amgen during the 4th quarter worth approximately $38,000. Advocate Investing Services LLC acquired a new position in Amgen during the fourth quarter worth $39,000. Garton & Associates Financial Advisors LLC acquired a new position in Amgen during the fourth quarter worth $52,000. Itau Unibanco Holding S.A. increased its holdings in Amgen by 21.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 189 shares of the medical research company’s stock worth $62,000 after buying an additional 33 shares during the last quarter. Finally, State of Wyoming bought a new stake in Amgen during the fourth quarter worth $65,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen beat estimates and raised its sales outlook. Second-quarter revenue rose 9.5% year over year to approximately $10.05 billion, while non-GAAP EPS of $6.29 exceeded the $5.60-$5.62 consensus by roughly 12%. The company forecast 2026 revenue of $38.2 billion to $39.4 billion, above the approximately $37.8 billion analyst estimate. Amgen Delivers Strong Q2 CY2026 Numbers
• Positive Sentiment: Growth was broad-based across key products. Twenty-two products posted double-digit sales growth. Repatha revenue rose 37% to $953 million and Evenity sales increased 38% to $714 million, helping offset declines in mature products. Product sales grew 9% on volume gains, and management maintained 2026 EPS guidance of $22.30 to $23.50, above consensus at the midpoint. Amgen Second-Quarter Sales Rise
• Positive Sentiment: Cash generation remained strong. Amgen produced $3.5 billion in free cash flow and ended the quarter with $14.0 billion in cash and equivalents, supporting its dividend and investment in its pipeline. Amgen Q2 Revenue Rises
• Neutral Sentiment: Pipeline news was mixed. Amgen continues advancing its MariTide obesity program, including an extension study, but said it would stop development of a separate early-stage obesity-treatment candidate. The decision may improve capital discipline but reduces one potential source of long-term growth. Amgen Lifts Outlook on Strong Drug Sales
• Negative Sentiment: Legacy-product declines and a reported data breach remain concerns. Prolia sales fell 32% and XGEVA sales dropped 34%, while reports said a cyber breach exposed patient and proprietary information. The financial and regulatory impact of the breach is not yet clear.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Canaccord Genuity Group started coverage on Amgen in a report on Monday, April 20th. They set a “hold” rating and a $366.00 target price for the company. Truist Financial boosted their price target on Amgen from $327.00 to $340.00 and gave the company a “hold” rating in a report on Tuesday, July 7th. The Goldman Sachs Group set a $389.00 price objective on Amgen in a research report on Friday, June 5th. Freedom Capital upgraded Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Piper Sandler reissued an “overweight” rating on shares of Amgen in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $357.00.

About Amgen

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.