Amgen Inc.

🇺🇸NASDAQ Global Select
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Amgen Inc. stock analysis AMGN overview
Slightly Bullish +25

Morgan Stanley Keeps Their Hold Rating on Amgen (AMGN)

📊 Morgan Stanley analyst Terence Flynn maintained a "Hold" rating on Amgen (AMGN) with a price target of $332.00.

💼 Flynn covers the Healthcare sector, including peers BioNTech and Biogen, with a historical success rate of 55.65%.

📉 Recently, Bernstein also issued a "Hold" rating on Amgen, while TD Cowen reiterated its "Buy" stance from April.

💰 Based on Q4 earnings ending December 31, Amgen reported quarterly revenue of $9.9 billion and net profit of $1.33 billion.

📈 Comparatively, the company earned $9.09 billion in revenue and $627 million in net profit for the same period last year.

⚖️ For fiscal 2026, Amgen raised its adjusted EPS view range to $21.70–$23.10 from the previous $21.60–$23.00.

📉 Q1 adjusted earnings per share came in at $5.15, beating the consensus estimate of $4.77.

🏗️ Amgen projects fiscal 2026 capital expenditures will total $2.6 billion.

💸 The company also plans that share repurchases will not exceed $3 billion over the period.

Bullish Signals
  • Amgen reported quarterly revenue of $9.9 billion, compared to $9.09 billion last year, showing strong sequential growth.
  • The company delivered a net profit of $1.33 billion versus $627 million in the prior year, more than doubling profitability.
  • Amgen raised its FY26 adjusted EPS view to $21.70-$23.10 from $21.60-$23.00, signaling management's increased confidence in future earnings growth.
  • Q1 adjusted EPS of $5.15 exceeded consensus estimates of $4.77, demonstrating strong operational performance.
  • Amgen plans share repurchases not to exceed $3 billion, which can support stock price and return value to shareholders.
  • TD Cowen reiterated a Buy rating on Amgen (NASDAQ: AMGN), indicating continued confidence in the stock's upside potential.
Risk Factors
  • Morgan Stanley maintained a Hold rating on Amgen (AMGN), signaling that the stock is currently underweight relative to its potential, with a price target of $332.00.
  • Amgen's previous year revenue and profit were significantly lower at $9.09 billion and $627 million respectively compared to the current quarter's figures, highlighting recent volatility or past weakness in financial performance.
  • Bernstein issued a Hold rating on April 21, while only TD Cowen maintained a Buy, indicating a split opinion among major analysts with cautious sentiment from Morgan Stanley and Bernstein.
  • Amgen raised its FY26 adjusted EPS view slightly to $21.70-$23.10 from $21.60-$23.00, which could imply that current growth expectations are tight or face upward pressure rather than significant upside potential.
Full Analysis
Morgan Stanley analyst Terence Flynn has maintained a Hold rating on Amgen (AMGN), setting a price target of $332.00. Flynn covers the healthcare sector and specializes in stocks such as BioNTech SE, Biogen, and Vertex Pharmaceuticals; according to TipRanks data, his average return is 8.7% with a 55.65% success rate on recommended stocks. This rating comes amidst varying analyst sentiment for Amgen, as Bernstein's Courtney Breen recently issued a Hold rating in a report from April 21, while TD Cowen reiterated its Buy rating yesterday. Amgen's recent financial performance supports these analyst views following the release of Q4 earnings for the quarter ending December 31. The company reported quarterly revenue of $9.9 billion and net profit of $1.33 billion, representing a significant increase from the previous year's revenue of $9.09 billion and net profit of $627 million. Additionally, Amgen beat analyst expectations with Q1 adjusted earnings per share (EPS) of $5.15 compared to a consensus of $4.77. Looking forward, Amgen has raised its fiscal year 2026 adjusted EPS view to a range of $21.70-$23.10, up from the previous $21.60-$23.00 projection. The company also provided specific guidance on capital allocation, indicating that FY26 CapEx is expected to be $2.6 billion and that share repurchases will not exceed $3 billion. These figures reflect the company's growth trajectory and commitment to returning value to shareholders while investing in future capabilities.