Amgen (NASDAQ:AMGN) Announces Earnings Results

Amgen (NASDAQ:AMGN) released its earnings results on Tuesday. The medical research company reported $5.29 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.53, FiscalAI reports. The company had revenue of $9.87 billion for the quarter, compared to analysts’ expectations of $9.46 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.31 EPS. Amgen updated its FY 2026 guidance to 21.600-23.000 EPS.

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

• Amgen reported double‑digit revenue and EPS growth in 2025, with 14 blockbusters and 18 record products, and provided 2026 guidance of $37.0B–$38.4B in revenue and $21.60–$23.00 non‑GAAP EPS, supported by $8.1B free cash flow and ongoing capital returns.
• MariTide is advancing rapidly with six global Phase 3 trials (weight management, T2D, sleep apnea, ASCVD, heart failure), fully enrolled chronic weight studies, and data supporting potential monthly or less‑frequent dosing that management calls “paradigm‑changing.”
• The Phase 3 VISSCELIA‑CV data for Repatha showed a 25% reduction in first major cardiovascular events and a 36% reduction in heart attack, strengthening its position for earlier use (primary prevention) and supporting commercial initiatives like Amgen Now to improve access.
• Biosimilars and oncology remain growth engines — the biosimilars franchise generated $3B in 2025 (>$13B since 2018) and the innovative oncology portfolio (including Imdelltra) grew 11% to $8.7B, with Imdelltra achieving full approval and rapid adoption in small cell lung cancer.
• The FDA requested a voluntary withdrawal of Tavneos following concerns about ChemoCentryx’s readjudication process for nine patients in the pivotal trial; Amgen is in discussions with the agency, creating regulatory uncertainty for that product.

Amgen Stock Down 1.8%

Shares of AMGN opened at $338.59 on Wednesday. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The company has a 50-day simple moving average of $332.76 and a 200-day simple moving average of $310.04. Amgen has a 52 week low of $261.43 and a 52 week high of $353.25. The firm has a market capitalization of $182.32 billion, a P/E ratio of 26.17, a P/E/G ratio of 3.03 and a beta of 0.46.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be given a dividend of $2.52 per share. This is an increase from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s dividend payout ratio (DPR) is currently 73.57%.

Insiders Place Their Bets

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of Amgen stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the sale, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Rachna Khosla sold 890 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the transaction, the senior vice president owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 10,908 shares of company stock worth $3,674,966. 0.69% of the stock is currently owned by company insiders.

Institutional Trading of Amgen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Ameriprise Financial Inc. raised its position in Amgen by 16.3% in the second quarter. Ameriprise Financial Inc. now owns 2,467,959 shares of the medical research company’s stock worth $688,649,000 after purchasing an additional 345,242 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Amgen by 194.3% in the 2nd quarter. AQR Capital Management LLC now owns 269,260 shares of the medical research company’s stock valued at $74,981,000 after purchasing an additional 177,767 shares during the period. Worldquant Millennium Advisors LLC raised its holdings in shares of Amgen by 497.7% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 203,205 shares of the medical research company’s stock worth $56,737,000 after buying an additional 169,209 shares in the last quarter. Amundi lifted its position in shares of Amgen by 4.6% during the 3rd quarter. Amundi now owns 2,408,089 shares of the medical research company’s stock worth $708,267,000 after buying an additional 104,920 shares during the period. Finally, Zurich Insurance Group Ltd FI boosted its stake in Amgen by 557.4% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 119,651 shares of the medical research company’s stock valued at $33,766,000 after buying an additional 101,451 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q4 results beat expectations — Amgen reported $5.29 EPS vs. consensus $4.76 and revenue of $9.87B vs. $9.46B; revenue rose ~8.6% YoY, driven by higher drug volumes. AMGEN Reports Fourth Quarter and Full Year 2025 Financial Results (Press Release/Slides)
• Positive Sentiment: Analysts and media note the quarter beat Street estimates on higher sales and a lower effective tax rate — items that helped EPS performance. Reuters: Amgen quarterly results beat Street estimates
• Neutral Sentiment: FY‑2026 guidance was reiterated/updated to an EPS range of 21.600–23.000 and revenue guidance roughly $37.0B–$38.4B; the range overlaps consensus but is wide, which may leave investors wanting clearer directional guidance.
• Neutral Sentiment: Market commentary and conference coverage remain generally constructive on Amgen’s pipeline and longer‑term prospects (e.g., positive remarks from commentators at the JPMorgan Healthcare Conference), supporting medium‑term fundamentals. Jim Cramer / Pipeline Commentary
• Negative Sentiment: Some of the reported earnings strength reflected lower net unrealized losses on equity investments and a lighter tax burden rather than pure operational margin expansion; that can temper how investors value the beat relative to recurring cash‑earnings. WSJ: Amgen logs higher Q4 revenue, lower unrealized losses
• Negative Sentiment: Broader market dynamics — rotation out of certain sectors and post‑earnings profit‑taking — likely amplified the selloff despite the beat; trading volumes were elevated on the move. Zacks: Markets rotate back out of tech after Q4 earnings

Analysts Set New Price Targets

A number of research firms have issued reports on AMGN. Cantor Fitzgerald increased their target price on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 15th. UBS Group upped their target price on Amgen from $380.00 to $390.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. BMO Capital Markets lifted their price target on Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Finally, The Goldman Sachs Group boosted their price target on Amgen from $400.00 to $403.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average price target of $342.45.

Amgen Company Profile

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.