Amgen Inc. (AMGN) is a leading biotechnology company headquartered in Thousand Oaks, California. It specializes in the discovery, development, manufacturing, and delivery of innovative human therapeutics, particularly biologics that target serious illnesses such as cancer, cardiovascular disease, inflammation, and bone disorders. Amgen pioneered recombinant DNA technology to advance patient care globally. The company has a market capitalization of $184.10 billion. The stock has been facing solid investor ...

Core Viewpoint - Amgen Inc. has seen significant changes in institutional ownership, with various investors adjusting their stakes, and the company recently reported strong quarterly earnings that exceeded analyst expectations [2][3][6]. Institutional Holdings - Atle Fund Management AB reduced its holdings in Amgen by 42.2%, owning 13,806 shares valued at $3,896,000, making it the 26th largest holding for the firm [2]. - Sequoia Financial Advisors LLC increased its stake by 2.3%, now holding 160,646 shares valued at $45,334,000 after acquiring an additional 3,619 shares [3]. - OLD National Bancorp IN raised its holdings by 296.2%, owning 18,004 shares valued at $5,027,000 after acquiring 13,460 shares [3]. - Atlantic Union Bankshares Corp increased its position by 165.0%, now owning 10,643 shares worth $2,972,000 [3]. - D.A. Davidson & CO. grew its position by 2.6%, owning 243,054 shares valued at $68,590,000 after purchasing 6,222 shares [3]. - Hedge funds and institutional investors collectively own 76.50% of Amgen's stock [3]. Analyst Ratings - Daiwa Capital Markets raised its target price for Amgen from $310.00 to $370.00, rating it "outperform" [4]. - Piper Sandler increased its price objective from $342.00 to $381.00, also rating it "overweight" [4]. - Oppenheimer set a price target of $400.00 with an "outperform" rating [4]. - Royal Bank Of Canada raised its target from $330.00 to $335.00, maintaining an "outperform" rating [4]. - Guggenheim increased its price target from $288.00 to $305.00, giving a "neutral" rating [4]. - The consensus rating for Amgen is "Moderate Buy" with an average price target of $342.45 [4]. Financial Performance - Amgen reported an EPS of $5.64 for the last quarter, surpassing the consensus estimate of $5.01 by $0.63 [6]. - The company generated revenue of $9.56 billion, exceeding expectations of $8.98 billion, with a year-over-year revenue increase of 12.4% [6]. - Amgen's return on equity was 162.59% and net margin was 19.47% [6]. - The company has set its FY 2025 guidance at an EPS range of 20.600-21.400 [6]. Dividend Information - Amgen declared a quarterly dividend of $2.52 per share, representing an annualized dividend of $10.08 and a yield of 2.9% [7]. - This is an increase from the previous quarterly dividend of $2.38, with a payout ratio of 73.57% [7]. Insider Transactions - SVP Rachna Khosla sold 890 shares at an average price of $336.24, totaling $299,253.60, reducing ownership by 11.16% [9]. - EVP Murdo Gordon sold 6,879 shares at an average price of $336.83, totaling $2,317,053.57, reducing ownership by 14.10% [9]. - Insiders sold a total of 10,908 shares worth $3,674,966 in the last quarter, with insiders owning 0.76% of the company's stock [9]. Company Overview - Amgen Inc. is a global biotechnology company focused on developing human therapeutics for serious illnesses, emphasizing biologic medicines derived from cellular and molecular biology [10]. - The company's commercial portfolio includes biologics used in oncology, supportive care, nephrology, bone health, and cardiovascular disease [11]. Stock Performance - Amgen's stock opened at $341.88, with a market capitalization of $184.10 billion and a price-to-earnings ratio of 26.42 [5]. - The stock has a 1-year low of $261.43 and a high of $353.25, with a debt-to-equity ratio of 5.45 [5]. - The fifty-day moving average price is $332.60, and the 200-day moving average price is $309.34 [5].

Core Insights - Kyowa Kirin Co., Ltd. and Amgen Inc. have terminated their collaboration on the development and commercialization of rocatinlimab, with Kyowa Kirin regaining control over the global program [1][2] Group 1: Collaboration Details - The collaboration was initiated in June 2021, focusing on KHK4083, a Phase 3-ready anti-OX40 monoclonal antibody for atopic dermatitis and other autoimmune diseases [2] - Amgen made an upfront payment of $400 million and Kyowa Kirin was eligible for milestone payments up to $850 million [3] Group 2: Clinical Trial Insights - Preliminary topline results from the ASCEND study, evaluating rocatinlimab in adults and adolescents with moderate to severe atopic dermatitis, were released in September 2025 [3] - The incidence of gastrointestinal ulceration events with rocatinlimab is reported to be less than 1 per 100 patient-years across the Phase 3 ROCKET program [4] Group 3: Analyst Commentary - The decision to terminate the agreement was unexpected, occurring after a broad Phase 3 program and just before a planned regulatory submission [5] - Recent updates in the OX40 development landscape have diminished enthusiasm for the target, with Phase 3 efficacy falling short of Phase II benchmarks [5] - Concerns regarding rocatinlimab's toxicity profile, including high rates of pyrexia and chills, may pose commercial challenges [6] Group 4: Investor Sentiment - The discontinuation of rocatinlimab is not expected to impact the investment thesis for Amgen, given low investor expectations for therapies targeting the OX40 pathway [7] - Amgen's CEO shared findings from part 2 of the Phase 2 study of MariTide, an investigational obesity treatment, at a J.P. Morgan Healthcare Conference [7] - Amgen acquired Dark Blue Therapeutics for up to $840 million, focusing on precision oncology medicines [7] Group 5: Stock Performance - As of the publication date, Amgen's stock was down 0.81% at $340.17 [8]

Core Viewpoint - Biotech stocks are outperforming in the current stock market rally, with key players like Amgen, Gilead Sciences, Vertex Pharmaceuticals, Regeneron Pharmaceuticals, and Argenx trading in or near buy zones as the fourth-quarter earnings season approaches [1] Group 1: Company Performance - Amgen (AMGN) is highlighted as a leading Dow Jones index component and industry giant, indicating strong market positioning [1] - Gilead Sciences (GILD) is noted for generating improved relative strength, suggesting positive market sentiment and potential for growth [1] - Regeneron Pharmaceuticals (REGN) is experiencing stock volatility but shows potential for business development deals following a solid fourth-quarter report [1] Group 2: Market Trends - The fourth-quarter earnings season is expected to reveal stock market leadership dynamics, indicating a critical period for investors [1] - The overall stock market is responding positively to recent developments, with the Nasdaq, Dow, and S&P 500 finding buyers at key levels [1] - Stocks like Gilead Sciences are showing renewed technical strength, which may attract further investment [1]

Core Insights - Amgen Inc. is recognized as one of the 12 Best Dow Jones Dividend Stocks to buy according to hedge funds [1] - UBS has raised Amgen's price target from $380 to $390, maintaining a Buy rating, reflecting a positive outlook on the US pharma and biotech sectors [2] Group 1: Company Developments - Amgen's CEO Bob Bradway expressed optimism regarding the company's obesity drug, emphasizing the challenge of long-term weight management [3] - The trial results for Amgen's experimental GLP-1 drug, MariTide, indicated that patients could maintain weight loss for up to two years with a monthly injection, which is a notable improvement over existing weekly options [4] - Bradway mentioned that MariTide could potentially be administered monthly or even quarterly, highlighting the importance of patient adherence to therapy [5] - The acquisition of Horizon Therapeutics is reported to be progressing well, aligning with Amgen's strengths in biologics and autoimmune diseases [6] Group 2: Market Context - The broader US pharma and biotech market is expected to perform well this year, with appealing valuations and light investor positioning, alongside easing pressures around drug pricing [2]

Company Overview - Amgen is one of the largest biotech companies globally, focusing on oncology/hematology, cardiovascular disease, inflammation, bone health, and rare diseases markets [11] - The company has developed significant drugs such as Epogen and Neupogen, and launched next-generation products like Aranesp and Neulasta [11] - Amgen's acquisition of Immunex Corporation provided access to the blockbuster drug Enbrel, although older drugs are facing declining sales due to competition [11] Financial Performance - Amgen has a Zacks Rank of 3 (Hold) and a VGM Score of B, indicating a solid position in the market [12] - The company has a Value Style Score of B, supported by a forward P/E ratio of 15.68, which is attractive for value investors [12] - For fiscal 2025, three analysts have revised their earnings estimates upwards, with the Zacks Consensus Estimate increasing to $21.28 per share [12] - Amgen has an average earnings surprise of +12.7%, suggesting a positive trend in earnings performance [12] Investment Considerations - With a strong Zacks Rank and favorable Value and VGM Style Scores, Amgen is recommended for investors' consideration [13]

Core Viewpoint - Amgen (AMGN) is expected to report quarterly earnings of $4.74 per share, a decline of 10.7% year-over-year, with revenues projected at $9.46 billion, reflecting a 4.2% increase compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate has been revised upward by 0.1% over the past 30 days, indicating analysts have adjusted their projections positively [2]. - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between these revisions and short-term stock price performance [3]. Revenue and Product Sales Projections - Analysts predict 'Revenue- Other revenues' will reach $402.12 million, an increase of 8.7% from the prior-year quarter [5]. - 'Revenue- Product sales' is expected to be $9.04 billion, reflecting a 3.7% increase year-over-year [5]. - 'Product Sales- Vectibix- Total' is projected at $279.69 million, indicating a 13.7% increase from the previous year [5]. Specific Product Sales Estimates - 'Product Sales- Enbrel- Total' is estimated at $649.46 million, showing a significant decline of 36% year-over-year [6]. - 'Product Sales- Neulasta- U.S.' is projected at $56.02 million, down 22.2% from the year-ago quarter [6]. - 'Product Sales- Neulasta- ROW' is expected to reach $19.40 million, reflecting a 25.4% decline [6]. - 'Product Sales- BLINCYTO- ROW' is estimated at $152.62 million, an increase of 12.2% year-over-year [7]. - 'Product Sales- Repatha- U.S.' is projected at $442.32 million, indicating a substantial increase of 40.4% from the previous year [7]. - 'Product Sales- Repatha- ROW' is expected to be $360.19 million, reflecting a 23.8% increase [8]. - 'Product Sales- BLINCYTO- U.S.' is projected at $287.58 million, indicating a 17.4% increase [8]. - 'Product Sales- KYPROLIS- U.S.' is expected to reach $228.82 million, showing a slight decline of 3% year-over-year [8]. - 'Product Sales- KYPROLIS- ROW' is projected at $130.37 million, reflecting a 4.1% decline [9]. Stock Performance - Amgen shares have increased by 4.6% over the past month, outperforming the Zacks S&P 500 composite, which has risen by 0.8% [9].

Group 1: Eli Lilly Overview - Eli Lilly is the most valuable healthcare company globally, with a market cap of approximately $950 billion, and its stock price has increased by 400% over the past five years, largely due to the success of its GLP-1 drugs, Mounjaro and Zepbound [1] Group 2: Amgen's Potential - Amgen is developing a GLP-1 drug called MariTide, which is an injectable treatment that may only need to be administered once a month, offering a more convenient option compared to weekly injectables like Mounjaro and Zepbound [3] - Clinical trials for MariTide indicate it can help individuals lose up to 20% of their body weight over a 52-week period, comparable to existing GLP-1 treatments [4] Group 3: Investment Considerations for Amgen - Amgen's stock has risen by 34% over the past five years and currently trades at a forward P/E multiple of 16, which is significantly lower than Eli Lilly's forward P/E of 32, suggesting Amgen may be undervalued [5][6] - The GLP-1 drug market is projected to exceed $150 billion within the next decade, indicating substantial growth potential for Amgen and other companies in this sector [6]

Core Viewpoint - Amgen will report its fourth quarter and full year 2025 financial results on February 3, 2026, followed by a conference call with senior management [1]. Group 1: Financial Results Announcement - The financial results will be announced after the close of U.S. financial markets on February 3, 2026 [1]. - A conference call will take place at 4:30 p.m. ET, featuring Robert A. Bradway, chairman and CEO, along with other senior management members [1]. Group 2: Conference Call Details - The conference call will be broadcast live over the internet, accessible to media, investors, and the general public [2]. - The webcast will be archived and available for replay for at least 90 days post-event [3]. Group 3: Company Overview - Amgen is a biotechnology company that discovers, develops, manufactures, and delivers innovative medicines for serious diseases [4]. - The company has a strong focus on utilizing technology and human genetic data to advance its pipeline of medicines targeting cancer, heart disease, inflammatory conditions, rare diseases, and obesity-related conditions [5]. Group 4: Industry Position - Amgen has been recognized for its innovation and workplace culture, receiving honors from Fast Company and Forbes [6]. - The company is part of the Dow Jones Industrial Average and the Nasdaq-100 Index, highlighting its status as one of the largest and most innovative non-financial companies [6].

Core Insights - Amgen (AMGN) is set to report its fourth-quarter and full-year 2025 results on February 3, with earnings expected to be $4.74 per share and sales at $9.46 billion, reflecting a 12.8% earnings surprise in the last reported quarter [1][10]. Group 1: Sales Performance - Product sales are anticipated to be driven by strong volume growth from drugs like Evenity, Repatha, and Blincyto, although prices are expected to decline due to increased rebates [2]. - The Zacks Consensus Estimate for sales of Evenity, Repatha, and Blincyto is $559 million, $798 million, and $434 million, respectively [3]. - Newer drugs such as Imdelltra, Tavneos, and Tezspire are expected to contribute to top-line growth, alongside sales from rare disease drugs like Uplizna, estimated at $183 million [4]. Group 2: Patent Expirations and Competitive Pressures - Patents for key drugs Prolia and Xgeva expired in February 2025 in the U.S., leading to expected sales erosion due to the launch of biosimilars, with estimates of $980 million for Prolia and $444 million for Xgeva [5]. - Competitive pressures have negatively impacted volume growth for Kyprolis, with an estimated sales figure of $365 million, while Enbrel sales are likely to decline due to price reductions [6]. Group 3: Biosimilars and R&D Costs - Amgen's biosimilars, including Wezlana and Pavblu, are expected to contribute to sales growth, although Wezlana is not expected to generate U.S. sales in the fourth quarter [7]. - Lower revenues from oncology biosimilars and legacy products are anticipated, alongside higher R&D costs that may negatively impact operating margins [8][9]. Group 4: Earnings Expectations - Amgen's Earnings ESP is -0.40%, indicating a lower likelihood of an earnings beat, with the most accurate estimate at $4.72 per share compared to the consensus of $4.74 [13][14].