With a market cap of $234.7 billion, Amgen Inc. (AMGN) is a leading biotechnology company that discovers, develops, manufactures, and delivers innovative medicines to address some of the world’s most challenging diseases. With more than 45 years of industry experience, the company leverages biology, advanced technology, and human genetic data to develop treatments across a broad range of areas, including cancer, heart disease, inflammatory conditions, rare diseases, and obesity.
The Thousand Oaks, California-based company is expected to release its fiscal Q3 2026 results after the market closes on Tuesday, Nov. 3. Ahead of this event, analysts expect AMGN to report an adjusted EPS of $5.72, up 1.4% from $5.64 in the prior year's quarter. It has surpassed Wall Street's bottom-line estimates in the past four quarters.
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For fiscal 2026, analysts forecast the world's largest biotech drugmaker to post adjusted EPS of $22.94, a 5% rise from $21.84 in fiscal 2025. Moreover, adjusted EPS is projected to grow 7.2% year-over-year to $24.58 in fiscal 2027.
www.barchart.com AMGN stock has increased 46.2% over the past 52 weeks, outpacing the S&P 500 Index's ($SPX) 15.5% gain and the State Street Health Care Select Sector SPDR ETF's (XLV) 24.2% rise over the same period.
www.barchart.com Amgen shares rose 4.6% following its Q2 2026 results on Aug. 4, as adjusted EPS increased 4% year-over-year to $6.29 and revenue climbed 10% to $10.1 billion, both surpassing the consensus. Investor optimism was fueled by strong demand for key growth drugs, including Repatha, whose sales surged 37% to $953 million, and Evenity, whose sales jumped 38% to $714 million, while rare-disease drug Uplizna recorded 90% sales growth to $335 million.
Amgen also raised its 2026 guidance, projecting adjusted EPS of $22.30 - $23.50 and revenue of $38.2 billion - $39.4 billion, reinforcing confidence in its growth outlook despite discontinuing experimental obesity drug AMG 513.
Analysts' consensus rating on AMGN stock is cautiously optimistic, with a "Moderate Buy" rating overall. Out of 35 analysts covering the stock, opinions include 12 "Strong Buys,” two "Moderate Buys," 18 "Holds,” one "Moderate Sell," and two "Strong Sells.” This configuration is slightly less bullish than three months ago, with 13 analysts suggesting a "Strong Buy."
As of writing, the stock is trading above the average analyst price target of $403.35.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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