Amgen Inc.

(NASDAQ Global Select)
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Slightly Bullish +15

Amgen stock gets a Neutral rating with a USD 400 target

Analyst downgrade Clinical trial results Earnings report AI-generated analysis

πŸ“Š Cantor Fitzgerald reiterated a Neutral rating with a USD 400 price target for Amgen on October 5, 2026.

πŸ’° Q2 2026 revenue reached USD 10.05 billion, marking a 10 percent year-over-year increase.

πŸ“ˆ Repatha sales grew 37 percent to USD 953 million, driving significant top-line growth.

πŸ”¬ Amgen announced positive Phase 3 results for dazodalibep in Sjogren's disease on September 22, 2026.

πŸ’΅ The company generated USD 3.489 billion in free cash flow during the second quarter.

πŸ“‰ EVENITY sales increased 38 percent to USD 714 million, reinforcing established product strength.

🏦 Amgen's market cap stood at USD 218.5 billion with shares trading near USD 404.83.

🎯 The stock trades below the average analyst target of USD 385.25 according to MarketBeat.

βš–οΈ Cantor Fitzgerald noted that expectations for Lp(a) products need resetting after HORIZON results.

πŸ“‰ GAAP diluted EPS was reported at USD 4.37 with a non-GAAP margin of 48.4 percent.

Bullish Signals
  • Amgen reported Q2 revenue of USD 10.05 billion, a 10 percent year-over-year increase driven by strong commercial execution.
  • Repatha sales surged 37 percent to USD 953 million, while EVENITY sales grew 38 percent to USD 714 million.
  • The company generated USD 3.489 billion in free cash flow and maintained a 48.4 percent non-GAAP operating margin.
  • Amgen announced positive Phase 3 results for dazodalibep in Sjogren's disease, adding a major clinical catalyst to its pipeline.
  • The stock is trading in the upper half of its 52-week range, indicating sustained investor interest despite neutral analyst ratings.
Risk Factors
  • Cantor Fitzgerald cited a need to reset expectations for Lp(a) products following recent HORIZON results.
  • The current stock price of USD 404.83 trades above the average analyst target of USD 385.25, suggesting potential downside pressure if consensus holds.
Full Analysis
Amgen Inc. received a Neutral rating with a USD 400 price target from Cantor Fitzgerald on October 5, 2026. The firm cited solid commercial execution but noted that expectations for Lp(a) products need to be reset following recent HORIZON results. Despite the neutral stance, the analyst acknowledged positive data emerging from Amgen's Sjogren's program as a key development. Amgen reported strong second-quarter 2026 financial results with total revenue reaching USD 10.05 billion, representing a 10 percent year-over-year increase. GAAP diluted earnings per share were USD 4.37, while non-GAAP EPS stood at USD 6.29. The company generated USD 3.489 billion in free cash flow and maintained a robust non-GAAP operating margin of 48.4 percent on product sales. Growth was primarily driven by established products, with Repatha revenue surging 37 percent to USD 953 million and EVENITY sales increasing 38 percent to USD 714 million. Additionally, Amgen announced positive Phase 3 results for dazodalibep in moderate-to-severe systemic Sjogren's disease on September 22, 2026, adding a significant clinical catalyst to its portfolio. Amgen's market capitalization was valued at USD 218.5 billion as of October 6, 2026, with shares trading at USD 404.83 on Nasdaq. The stock is currently positioned in the upper half of its 52-week range, sitting below its analyst consensus target but reflecting confidence in its operating anchor and pipeline milestones.