PREVIEW: Amgen shares higher with results on deck

Amgen

30/04/2026 20:16

** Shares of Amgen Inc AMGN.O up 2.7% at $347.15, on track to snap four-session losing streak, ahead of Q1 earnings due after the closing bell,  with focus on its experimental weight-loss drug pipeline

** The biotechnology co is expected to post a >5% rise in qtrly rev to $8.58 bln and adj EPS of $4.76 vs $4.90 a yr ago, per LSEG

** AMGN has met or beaten EPS estimates in seven of past eight qtrs, with most recent miss in Q2 2024

** Investors also watching for updates on its autoimmune drug Tavneos after the FDA in late April proposed withdrawing its approval, citing a lack of effectiveness

** In previous qtr, the co expressed confidence in its experimental weight-loss drug MariTide, calling it a "paradigm-changing opportunity"

** Of the 38 analysts that cover Amgen Inc, the breakdown of recommendations is 16 "strong buy" or "buy," 19 "hold" and 3 "sell" or "strong sell" ratings

** Median price target of $355 is up from $351.50 a month ago

** YTD, stock up ~6%, vs ~3.5% gain in Dow Industrials .DJI

** AMGN options imply a 4.3% swing for the shares, in either direction, by Fri; that is below the 5.8% move the stock has logged on the day after results over the last 8-qtrs, according to Trade Alert

(Reporting by Chuck Mikolajczak; additional reporting by Saqib Ahmed)

((charles.mikolajczak@tr.com; @chuckmik.bsky.social))