Amgen (NASDAQ:AMGN) Reaches New 1-Year High on Strong Earnings

Amgen Inc. (NASDAQ:AMGN) hit a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $486.25 and last traded at $478.5940, with a volume of 74,523 shares. The stock had previously closed at $461.26.

The medical research company reported $6.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.79 by $0.66. The firm had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.07 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm posted $5.64 EPS.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be issued a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.1%. Amgen’s payout ratio is presently 62.65%.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen beat estimates, reporting Q3 revenue of $10.37 billion, up 8.5% year over year, and adjusted EPS of $6.45. It raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and GAAP EPS outlook to $18.34–$19.28. Article: Amgen lifts 2026 outlook
• Positive Sentiment: Growth in medicines including Repatha and Imdelltra helped offset pressure elsewhere. Positive Phase 3 findings for Imdelltra, Tezspire and dazodalibep also support Amgen’s longer-term pipeline prospects. Article: How Investors May Respond To Amgen Earnings Beat
• Neutral Sentiment: Analyst price-target changes were mixed: Bernstein raised its target to $400 and BMO Capital to $442, while Cantor Fitzgerald lifted its target to $465 and kept a neutral rating. Article: BMO Capital adjusts price target
• Negative Sentiment: Investors focused on falling Prolia and Xgeva sales as biosimilar competition intensifies. Those declines tempered the otherwise positive earnings report and help explain why the shares weakened despite the beat and higher guidance. Article: AMGN Stock Down Despite Q3 Earnings & Sales Beat, Raised Guidance
• Negative Sentiment: The FDA issued Amgen a warning letter over allegedly misleading promotion of Vectibix, adding regulatory risk. Article: Amgen Gets FDA Warning Letter Over Vectibix Promotion

Analysts Set New Price Targets

Several research analysts have recently commented on AMGN shares. Barclays raised their target price on shares of Amgen from $380.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 21st. Bank of America upped their target price on Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 5th. Sanford C. Bernstein boosted their price target on Amgen from $335.00 to $345.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. UBS Group raised their price objective on Amgen from $430.00 to $470.00 and gave the company a “buy” rating in a research note on Friday, October 9th. Finally, Cantor Fitzgerald boosted their target price on Amgen from $440.00 to $465.00 and gave the stock a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have assigned a Hold rating and three 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 $393.68.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the transaction, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,642,098.28. This represents a 23.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amgen

Institutional investors have recently added to or reduced their stakes in the business. Quest 10 Wealth Builders Inc. grew its stake in Amgen by 220.0% in the third quarter. Quest 10 Wealth Builders Inc. now owns 80 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 55 shares during the period. Wellington Altus USA Inc. grew its position in Amgen by 72.3% in the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 34 shares during the period. Nvwm LLC increased its stake in Amgen by 412.5% during the 3rd quarter. Nvwm LLC now owns 82 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 66 shares in the last quarter. PFS Partners LLC raised its holdings in Amgen by 95.5% during the third quarter. PFS Partners LLC now owns 86 shares of the medical research company’s stock worth $36,000 after buying an additional 42 shares during the last quarter. Finally, TOWER TRUST & INVESTMENT Co bought a new position in shares of Amgen in the third quarter valued at $38,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Up 1.8%

The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The company has a market capitalization of $253.90 billion, a P/E ratio of 29.31, a P/E/G ratio of 3.41 and a beta of 0.43. The firm’s 50-day moving average price is $420.83 and its 200 day moving average price is $376.16.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.