Amgen Inc. (AMGN), headquartered in Thousand Oaks, California, discovers, develops, manufactures, and delivers human therapeutics. With a market cap of $251.6 billion, the company focuses on human therapeutics and concentrates on innovating novel medicines based on cellular and molecular biology.
Shares of this drug manufacturing giant have outperformed the broader market over the past year. AMGN has gained 56% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 10.3%. In 2026, AMGN stock is up 42.2%, surpassing the SPX’s 10.2% rise on a YTD basis.
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Zooming in further, AMGN’s outperformance is also apparent compared to the Invesco Pharmaceuticals ETF (PJP). The exchange-traded fund has gained about 33.6% over the past year. Moreover, AMGN’s returns on a YTD basis outshine the ETF’s 23.9% gains over the same time frame.
www.barchart.com Amgen's strong performance was driven by a 26% year over year surge in its six core growth engines, led by Repatha, EVENITY, and TEZSPIRE, which offset headwinds from older products and patent expirations. Looking ahead, the company is fueling future growth through heavy investments in its late-stage pipeline (such as MariTide), AI-driven drug discovery, and expanded U.S. manufacturing capacity.
For the current fiscal year, ending in December, analysts expect AMGN’s EPS to grow 5.1% to $22.96 on a diluted basis. The company’s earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.
Among the 35 analysts covering AMGN stock, the consensus is a “Moderate Buy.” That’s based on 12 “Strong Buy” ratings, two “Moderate Buys,” 18 “Holds,” one “Moderate Sell,” and two “Strong Sells.”
www.barchart.com This configuration is less bullish than two months ago, with 13 analysts suggesting a “Strong Buy.”
On Oct. 27, Mohit Bansal from Wells Fargo & Company (WFC) maintained a “Hold” rating on AMGN, with a price target of $430.
While AMGN currently trades above its mean price target of $406.39, the Street-high price target of $500 suggests an upside potential of 7.4%.
On the date of publication, Neha Panjwani did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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