Amgen Reports Q1 Earnings Beat and Upgraded Outlook
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
Should l Buy AMGN?
Source: stocktwits
Amgen's stock fell 5.79% as it crossed below the 5-day SMA, despite positive market conditions with the Nasdaq-100 and S&P 500 both up.
The company reported a 4% year-over-year sales growth in Q1 2026, driven by strong demand for cholesterol and rare disease medications, although bone disease drug sales declined. Adjusted earnings per share increased by 5% to $5.15, exceeding analysts' expectations of $4.76, reflecting effective cost control and pricing strategies. Additionally, Amgen announced plans to initiate three Phase 3 trials for its experimental weight-loss drug MariTide, indicating a strategic focus on obesity.
Despite the stock's decline, Amgen's upgraded full-year outlook, raising adjusted EPS forecasts to between $21.70 and $23.10 and revenue estimates to $37.1 billion to $38.5 billion, reflects confidence in future growth and market demand.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy AMGN?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on AMGN
Wall Street analysts forecast AMGN stock price to rise
24 Analyst Rating
14 Buy
9 Hold
1 Sell
Moderate Buy
Current: 329.090
Low
280.00
Averages
363.10
High
425.00
Current: 329.090
Low
280.00
Averages
363.10
High
425.00
About AMGN
Amgen Inc. is a biotechnology company. It discovers, develops, manufactures and delivers medicines for the toughest diseases. It focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve people’s lives. It operates in the human therapeutics segment. Its marketed products portfolio includes EPOGEN (epoetin alfa); Aranesp (darbepoetin alfa); Parsabiv (etelcalcetide); Neulasta (pegfilgrastim); KANJINTI (trastuzumab-anns); Otezla; BLINCYTO (blinatumomab); ACTIMMUNE (interferon gamma-1b); Neulasta (pegfilgrastim); Sensipar/Mimpara (cinacalcet); Prolia (denosumab); ENBREL; QUINSAIR (levofloxacin); Repatha (evolocumab) and others. It markets ENBREL, a tumor necrosis factor blocker, in the United States and Canada. It markets Otezla, a small molecule that inhibits phosphodiesterase 4, in many countries around the world. It markets Repatha, a proprotein convertase subtilisin/kexin type 9 (PCSK9) inhibitor, in many countries around the world.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Equity Markets Steady Amid Uncertainty; Quality Dividend Stocks Attract Investors
- Market Performance: The S&P 500 has risen 7% year-to-date, demonstrating resilience amid economic uncertainty and geopolitical instability, although fresh challenges may still arise in the future.
- Amgen's Outlook: Despite facing biosimilar competition, Amgen is expected to see revenue growth in 2026, supported by a diverse product lineup and a strong pipeline, with 16 brands achieving double-digit growth in Q1.
- Merck's Strategy: Merck's key drug Keytruda will lose patent protection in 2028, but the approval of a subcutaneous version is expected to retain patients, while new drugs like Winrevair and Capvaxive are performing well in the market.
- Dividend Appeal: Both Amgen and Merck offer around a 3% dividend yield, significantly higher than the S&P 500's average of 1.1%, and both companies have notably increased their dividends over the past decade, attracting income-seeking investors.
See More
VTV Stock Price Analysis and ETF Dynamics
- Stock Price Fluctuation: VTV's 52-week low is $167.6328 and high is $208.35, with the latest trade at $206.18, indicating the stock is oscillating near its high, which may influence investor buying decisions.
- Technical Analysis Tool: Comparing the latest stock price to the 200-day moving average can provide valuable technical analysis insights for investors, helping to assess market trends and potential buying opportunities.
- ETF Trading Mechanism: Exchange-traded funds (ETFs) trade like stocks, where investors are actually buying and selling 'units' that can be created or destroyed based on investor demand, impacting ETF liquidity and market performance.
- Inflows and Outflows Monitoring: Weekly monitoring of changes in shares outstanding for ETFs focuses on those experiencing notable inflows (new units created) or outflows (old units destroyed), assessing their impact on underlying assets.
See More
Amgen Boosts Manufacturing Capacity with $300M Investment
- Manufacturing Investment Boost: Amgen announced an additional $300 million investment to expand its biologics facility in Juncos, Puerto Rico, further enhancing its manufacturing capacity in the U.S., reflecting the company's strong confidence in future market demand.
- Historical Investment Overview: Since 2025, Amgen has made a total manufacturing investment of $900 million in Ohio and a prior $650 million in Puerto Rico, collectively enhancing the company's production capabilities and market competitiveness.
- 2026 Performance Outlook: Amgen raised its 2026 revenue guidance to between $37.1 billion and $38.5 billion, with non-GAAP EPS expectations of $21.70 to $23.10, indicating the company's optimistic outlook and sustained market demand.
- Clinical Research Expansion: While expanding MariTide Phase III switching studies, Amgen demonstrates its innovative capabilities in the biopharmaceutical sector, aiming to further solidify its market position through the introduction of new products.
See More
Amgen Invests Additional $300 Million in Puerto Rico Manufacturing Expansion
- Investment Expansion: Amgen announced an additional $300 million investment in Puerto Rico to expand its U.S. manufacturing network, aiming to enhance production capacity in response to growing market demands.
- Tariff Response: This move is a direct reaction from global drugmakers to President Trump's potential imposition of tariffs up to 100% on imported branded medicines, demonstrating the company's proactive strategy in navigating future market conditions.
- Manufacturing Resurgence: With more pharmaceutical companies increasing investments in Puerto Rico, this is expected to further drive the resurgence of the region's manufacturing sector, creating more job opportunities and stimulating economic growth.
- Strategic Implications: By bolstering local production capabilities, Amgen not only reduces reliance on imports but also strengthens its competitive position within the global pharmaceutical supply chain, ensuring stable supply in an uncertain trade environment.
See More
Amgen Invests Additional $300 Million to Expand U.S. Manufacturing Capacity
- Expansion Investment: Amgen has announced an additional $300 million investment in its manufacturing network in Puerto Rico to enhance U.S.-based production capacity, ensuring patients have access to necessary medicines and strengthening the long-term stability of the domestic supply chain.
- Biologics Facility Upgrade: This investment will bolster Amgen's biologics manufacturing facility in Puerto Rico, supporting the development of advanced manufacturing roles and generating construction jobs, thereby promoting local economic growth.
- Regional Employment Support: CEO Robert Bradway stated that by expanding operations in Puerto Rico, the company is not only investing in American jobs but also playing a crucial role in ensuring patients have access to the medicines they need.
- Ongoing Investment Commitment: Over the past year, Amgen has announced a total investment of $650 million in Puerto Rico, alongside $900 million in Ohio and $600 million in a science and innovation center in California, demonstrating its ongoing commitment to the U.S. market.
See More
Amgen Invests $300 Million to Strengthen U.S. Manufacturing
- Investment Expansion: Amgen has announced an additional $300 million investment in its U.S. manufacturing network to enhance production capacity and next-generation technologies, ensuring patients have access to necessary medicines and reinforcing the company's leadership in biomanufacturing.
- Puerto Rico Growth: By expanding its biologics manufacturing facility in Puerto Rico, Amgen will create hundreds of construction jobs and support workforce development in the region, further solidifying its competitive advantage in the global biopharmaceutical market.
- Strategic Investment Context: This investment is part of Amgen's broader strategy, which includes $650 million in Puerto Rico, $900 million in Ohio, and $600 million in a California innovation center, demonstrating the company's long-term commitment to U.S. manufacturing.
- Policy Support Impact: Since the enactment of the Tax Cuts and Jobs Act in 2017, Amgen has invested over $40 billion in manufacturing and R&D, indicating the company's growth potential in a favorable policy environment and further driving the development of American biomanufacturing.
See More
Equity Markets Steady Amid Uncertainty; Quality Dividend Stocks Attract Investors
- Market Performance: The S&P 500 has risen 7% year-to-date, demonstrating resilience amid economic uncertainty and geopolitical instability, although fresh challenges may still arise in the future.
- Amgen's Outlook: Despite facing biosimilar competition, Amgen is expected to see revenue growth in 2026, supported by a diverse product lineup and a strong pipeline, with 16 brands achieving double-digit growth in Q1.
- Merck's Strategy: Merck's key drug Keytruda will lose patent protection in 2028, but the approval of a subcutaneous version is expected to retain patients, while new drugs like Winrevair and Capvaxive are performing well in the market.
- Dividend Appeal: Both Amgen and Merck offer around a 3% dividend yield, significantly higher than the S&P 500's average of 1.1%, and both companies have notably increased their dividends over the past decade, attracting income-seeking investors.
See More
VTV Stock Price Analysis and ETF Dynamics
- Stock Price Fluctuation: VTV's 52-week low is $167.6328 and high is $208.35, with the latest trade at $206.18, indicating the stock is oscillating near its high, which may influence investor buying decisions.
- Technical Analysis Tool: Comparing the latest stock price to the 200-day moving average can provide valuable technical analysis insights for investors, helping to assess market trends and potential buying opportunities.
- ETF Trading Mechanism: Exchange-traded funds (ETFs) trade like stocks, where investors are actually buying and selling 'units' that can be created or destroyed based on investor demand, impacting ETF liquidity and market performance.
- Inflows and Outflows Monitoring: Weekly monitoring of changes in shares outstanding for ETFs focuses on those experiencing notable inflows (new units created) or outflows (old units destroyed), assessing their impact on underlying assets.
See More
Amgen Boosts Manufacturing Capacity with $300M Investment
- Manufacturing Investment Boost: Amgen announced an additional $300 million investment to expand its biologics facility in Juncos, Puerto Rico, further enhancing its manufacturing capacity in the U.S., reflecting the company's strong confidence in future market demand.
- Historical Investment Overview: Since 2025, Amgen has made a total manufacturing investment of $900 million in Ohio and a prior $650 million in Puerto Rico, collectively enhancing the company's production capabilities and market competitiveness.
- 2026 Performance Outlook: Amgen raised its 2026 revenue guidance to between $37.1 billion and $38.5 billion, with non-GAAP EPS expectations of $21.70 to $23.10, indicating the company's optimistic outlook and sustained market demand.
- Clinical Research Expansion: While expanding MariTide Phase III switching studies, Amgen demonstrates its innovative capabilities in the biopharmaceutical sector, aiming to further solidify its market position through the introduction of new products.
See More
Amgen Invests Additional $300 Million in Puerto Rico Manufacturing Expansion
- Investment Expansion: Amgen announced an additional $300 million investment in Puerto Rico to expand its U.S. manufacturing network, aiming to enhance production capacity in response to growing market demands.
- Tariff Response: This move is a direct reaction from global drugmakers to President Trump's potential imposition of tariffs up to 100% on imported branded medicines, demonstrating the company's proactive strategy in navigating future market conditions.
- Manufacturing Resurgence: With more pharmaceutical companies increasing investments in Puerto Rico, this is expected to further drive the resurgence of the region's manufacturing sector, creating more job opportunities and stimulating economic growth.
- Strategic Implications: By bolstering local production capabilities, Amgen not only reduces reliance on imports but also strengthens its competitive position within the global pharmaceutical supply chain, ensuring stable supply in an uncertain trade environment.
See More
Amgen Invests Additional $300 Million to Expand U.S. Manufacturing Capacity
- Expansion Investment: Amgen has announced an additional $300 million investment in its manufacturing network in Puerto Rico to enhance U.S.-based production capacity, ensuring patients have access to necessary medicines and strengthening the long-term stability of the domestic supply chain.
- Biologics Facility Upgrade: This investment will bolster Amgen's biologics manufacturing facility in Puerto Rico, supporting the development of advanced manufacturing roles and generating construction jobs, thereby promoting local economic growth.
- Regional Employment Support: CEO Robert Bradway stated that by expanding operations in Puerto Rico, the company is not only investing in American jobs but also playing a crucial role in ensuring patients have access to the medicines they need.
- Ongoing Investment Commitment: Over the past year, Amgen has announced a total investment of $650 million in Puerto Rico, alongside $900 million in Ohio and $600 million in a science and innovation center in California, demonstrating its ongoing commitment to the U.S. market.
See More
Amgen Invests $300 Million to Strengthen U.S. Manufacturing
- Investment Expansion: Amgen has announced an additional $300 million investment in its U.S. manufacturing network to enhance production capacity and next-generation technologies, ensuring patients have access to necessary medicines and reinforcing the company's leadership in biomanufacturing.
- Puerto Rico Growth: By expanding its biologics manufacturing facility in Puerto Rico, Amgen will create hundreds of construction jobs and support workforce development in the region, further solidifying its competitive advantage in the global biopharmaceutical market.
- Strategic Investment Context: This investment is part of Amgen's broader strategy, which includes $650 million in Puerto Rico, $900 million in Ohio, and $600 million in a California innovation center, demonstrating the company's long-term commitment to U.S. manufacturing.
- Policy Support Impact: Since the enactment of the Tax Cuts and Jobs Act in 2017, Amgen has invested over $40 billion in manufacturing and R&D, indicating the company's growth potential in a favorable policy environment and further driving the development of American biomanufacturing.
See More
