Amgen Inc. (AMGN), headquartered in Thousand Oaks, California, discovers, develops, manufactures, and delivers human therapeutics. With a market cap of $182.4 billion, the company focuses on human therapeutics and concentrates on innovating novel medicines based on cellular and molecular biology.
Shares of this drug manufacturing giant have underperformed the broader market over the past year. AMGN has gained 17.1% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 28.3%. In 2026, AMGN stock is up 3.3%, compared to the SPX’s 4.2% rise on a YTD basis.
Narrowing the focus, AMGN’s underperformance is also apparent compared to the Invesco Pharmaceuticals ETF (PJP). The exchange-traded fund has gained about 26.9% over the past year. However, the stock’s returns on a YTD basis outshine the ETF’s 1.3% losses over the same time frame.
On Feb. 3, AMGN reported its Q4 results, and its shares closed up more than 8% in the next trading session. Its adjusted EPS of $5.29 exceeded Wall Street expectations of $4.76. The company’s revenue was $9.9 billion, beating Wall Street forecasts of $9.5 billion. AMGN expects full-year adjusted EPS in the range of $21.60 to $23, and revenue in the range of $37 billion to $38.4 billion.
For fiscal 2026, ending in December, analysts expect AMGN’s EPS to grow 1.5% to $22.16 on a diluted basis. The company’s earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.
Among the 36 analysts covering AMGN stock, the consensus is a “Moderate Buy.” That’s based on 13 “Strong Buy” ratings, two “Moderate Buys,” 18 “Holds,” one “Moderate Sell,” and two “Strong Sells.”
This configuration is less bullish than three months ago, with 14 analysts suggesting a “Strong Buy.”
On Apr. 21, Canaccord Genuity initiated coverage with a “Hold” rating on AMGN and set a price target of $366, implying a potential upside of 8.3% from current levels.
The mean price target of $357.84 represents a 5.9% premium to AMGN’s current price levels. The Street-high price target of $432 suggests an upside potential of 27.8%.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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