Amgen IncNasdaq: AMGN
Health Care · Biotechnology
$350.02
+3.73%
Vol: 2.3M
Research Digest
Monday, June 15, 2026
No significant overnight updates
No material news in the last 48 hours.
Previous Market Intelligence
13 daysJun 14Morgan Stanley raised its Amgen target to $340 as positive Phase 3 thyroid-eye and Repatha cardiovascular data offset a potential FDA withdrawal of Tavneos.Positive▶
Amgen's price target was raised to $340 from $332 at Morgan Stanley in June 2026, while Bernstein maintained a Hold. The stock trades around $354.50 with a ~2.9% dividend yield. Recent pipeline catalysts are positive: Amgen reported positive topline Phase 3 results for subcutaneous Tepezza in moderate-to-severe active thyroid eye disease (April), landmark VESALIUS-CV cardiovascular outcomes for Repatha (cutting first major CV events by 31% in high-risk patients), and full FDA approval of IMDELLTRA in extensive-stage small cell lung cancer. The company also announced an additional $300M US manufacturing investment (~$2B over the past year) and acquired Dark Blue Therapeutics to bolster oncology. The key overhang is a potential FDA withdrawal of Tavneos, a regulatory risk to watch.
May 21Amgen announced CFO Peter Griffith retirement on May 19, with Thomas Dittrich succeeding effective September 1, 2026; Xaluritamig prostate cancer trial advanced.Mixed▶
Amgen on May 19, 2026 announced CFO Peter Griffith will retire effective August 31, 2026 after holding the role since 2020. Thomas Dittrich joins as EVP July 1 and becomes CFO from September 1. Griffith remains as a non-officer EVP through January 2027 for handover. Shareholders today reaffirmed the board, pay and auditors. The company advanced its Xaluritamig trial in hard-to-treat prostate cancer. Stock opened $323.25 with market cap of $178.5B and a 3.05% dividend yield. Annual revenue grew 12.3% with 27.7% FCF margin, though Tavneos faces safety scrutiny in Japan.
May 20Amgen announces CFO transition: Peter Griffith to retire August 31, Thomas Dittrich to take CFO role September 1, 2026.Mixed▶
On May 19, 2026, Amgen announced that EVP and CFO Peter Griffith, who has held the CFO role since 2020, will retire effective August 31, 2026 and remain in a non-officer EVP role through January 2027 for transition. Thomas Dittrich, a veteran finance executive with prior senior Amgen roles and CFO experience at Galderma, Shire, and Sulzer, will join as EVP effective July 1, 2026 and become CFO on September 1, 2026. Separately on May 4, Amgen announced an additional $300M U.S. manufacturing investment, bringing the total to nearly $2B over the past year, with capacity growth in Puerto Rico. Q1 2026 results posted earlier included $8.62B revenue and adjusted EPS of $5.15, with raised full-year guidance of $37.1-$38.5B revenue. Risk: Erste Group downgraded AMGN to Hold citing sales-growth deceleration risk in 2026-2027.
May 19Amgen commits additional $300M to US manufacturing as Erste downgrades to HoldMixed▶
Amgen announced an additional $300 million investment in US manufacturing on May 12, 2026, bringing total US capex commitments to nearly $2 billion over the past year, including a Puerto Rico biologics facility expansion. CFO Peter Griffith and R&D head Jay Bradner presented at the BofA Global Healthcare Conference on May 13. Erste Group's Hans Engel downgraded AMGN to Hold from Buy, citing expected sales growth deceleration in 2026-2027. Q1 2026 results beat with $8.62B revenue and $5.15 adjusted EPS, and management raised full-year guidance to $37.1-$38.5B revenue and $21.70-$23.10 non-GAAP EPS. Risks include continued safety concerns around Tavneos and biosimilar pressure. Sentiment is mixed.
May 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 15Amgen pressured as Piper Sandler trims PT on rare disease outlook despite Q1 beat and $300M Puerto Rico manufacturing investmentMixed▶
Amgen reported Q1 2026 revenue of $8.62B (+5.8% YoY, 0.5% above consensus) with adjusted EPS of $5.15 vs $4.77 expected. The company raised 2026 guidance and hiked its quarterly dividend 6% to $2.52 per share. Amgen announced an additional $300M investment in Puerto Rico to expand its US manufacturing network. Pipeline highlights include MariTide for obesity/type 2 diabetes, strong Phase III data for subcutaneous Tepezza, and multiple bispecific T-cell engagers for oncology. However, Piper Sandler lowered its price target citing a weaker rare disease outlook. Analyst consensus is Hold (19 analysts) with an avg 12-month PT of $350.89 (8.4% upside). Risk: patent expirations and biosimilar competition remain a concern; 2026 is framed as a "springboard year" where growing products must offset patent cliff impact.
May 14Amgen announces additional $300M U.S. manufacturing investment, bringing total to nearly $2B over the past year, ahead of May 13 BofA Healthcare Conference presentation.Neutral▶
On May 4, 2026, Amgen disclosed an additional $300 million investment in its U.S. manufacturing network, primarily expanding its Puerto Rico biologics facility, bringing total announced U.S. investments to nearly $2 billion over the past year (including $650M in Puerto Rico, $900M in Ohio, $600M in California). CFO Peter Griffith and EVP R&D Jay Bradner are scheduled to present at the Bank of America Merrill Lynch Global Healthcare Conference on May 13, 2026. The ex-dividend date for the quarterly $2.52 dividend is May 15, 2026. The investment supports advanced manufacturing capacity and strengthens domestic supply chain resilience. Despite a Q1 beat and raised 2026 guidance ($37.1B-$38.5B revenue, $21.70-$23.10 non-GAAP EPS), shares trade around $336 with concerns about patent cliffs. Risk: heavy capex may pressure near-term margins, and patent expirations remain an overhang on the Hold-rated stock.
May 13Amgen announced additional $300M U.S. manufacturing investment on May 4 (totaling nearly $2B in past year) and raised FY26 revenue guidance to $37.1B-$38.5B with non-GAAP EPS of $21.70-$23.10.Positive▶
Amgen announced on May 4, 2026, an additional $300 million U.S. manufacturing investment, bringing total commitments to nearly $2 billion over the past year. The expansion includes a Puerto Rico biologics manufacturing facility to support workforce development and hundreds of construction jobs. In early May, Amgen reported Q1 2026 results with revenue of $8.618 billion and net income of $1.819 billion. Management raised FY2026 revenue guidance to $37.1-$38.5 billion and non-GAAP EPS to $21.70-$23.10, backed by 9% volume growth and 16 brands with double-digit sales increases. Senior leadership changes emphasized AI and data as core to operations. CFO Peter Griffith and R&D EVP Jay Bradner present at Bank of America Healthcare Conference on May 13.
May 12Amgen announces additional $300M U.S. manufacturing investment (totaling ~$2B over the past year) and CFO/R&D chief to present at BofA Healthcare Conference May 13.Positive▶
Amgen disclosed a new $300 million investment in its U.S. manufacturing network, bringing total commitments to nearly $2 billion over the past year, with a focus on expanding its Puerto Rico biologics facility. The company also confirmed its CFO Peter Griffith and R&D head Jay Bradner will present at the BofA Merrill Lynch Global Healthcare Conference on May 13, 2026. This follows Amgen's recent raise of full-year 2026 guidance to $37.1B-$38.5B in revenue and $21.70-$23.10 non-GAAP EPS, driven by 9% volume growth across 16 brands with double-digit sales gains. Management is emphasizing AI and data integration as core to future operations. Risks include biosimilar competition and pricing pressure. Consensus analyst rating remains Hold.
May 11Amgen raises 2026 guidance to $37.1B-$38.5B revenue and announces additional $300M Puerto Rico biologics manufacturing investmentPositive▶
Amgen raised 2026 guidance to $37.1-$38.5 billion in revenue and $21.70-$23.10 non-GAAP EPS, while expanding MariTide Phase III switching studies. Q1 2026 revenue was $8.6 billion with six key growth drivers generating 70% of sales and growing 24%. The company announced an additional $300 million investment in its Juncos, Puerto Rico biologics facility, bringing total US manufacturing investment to nearly $2 billion over the past year. Stock fell about 4.75% on the Q1 report. CFO Peter Griffith and R&D head Jay Bradner will present at the Bank of America Merrill Lynch Global Healthcare Conference on May 13. Risks include biosimilar competition, IRS NOPA, and potential FDA withdrawal of TAVNEOS.
May 8Amgen reported Q1 2026 EPS of $5.15 beating estimates of $4.80 by 7.29%, raised 2026 guidance to $21.70-$23.10 EPS and $37.1B-$38.5B revenue, driving stock to $329.03.Positive▶
Amgen reported first-quarter 2026 results beating expectations with EPS of $5.15 versus forecasted $4.80 and revenue of $8.618 billion with net income of $1.819 billion. Company raised full-year 2026 guidance projecting non-GAAP EPS of $21.70-$23.10 and total revenue of $37.1-$38.5 billion. Amgen acquired Dark Blue Therapeutics to bolster oncology pipeline and received European Commission approval for Uplizna for generalized myasthenia gravis. Company appointed James Bradner to lead AI and data activities and announced $300 million investment in U.S. manufacturing. Stock trades at $329.03 with market cap of $180.72 billion and 2.9% dividend yield. Jefferies maintains Hold with $350 price target citing 35% run-up leaving stock fairly valued, while Freedom Broker upgraded to Buy with $375 target.
May 6Amgen announces $300M Puerto Rico manufacturing investment and beats Q1 2026 earnings with raised guidance despite 5% stock declineMixed▶
Amgen reported strong Q1 2026 results with 24% growth in key products and raised 2026 guidance for revenue and EPS, though stock fell 5% on earnings. The company announced a $300 million investment in Puerto Rico to expand U.S. biologics manufacturing capacity, part of planned investments totaling nearly $2 billion over the past year. Amgen's lung cancer drug tarlatamab won approval from China's National Medical Products Administration. However, FDA scrutiny on drug Tavneos and biosimilar competition concerns influence analyst sentiment. Average analyst rating is Hold with 19 analysts tracking and $350.89 average price target (up 8.35%).
May 5Amgen raises 2026 guidance on Q1 beat, announces $300M manufacturing investment in Puerto RicoPositive▶
Amgen reported strong Q1 2026 results with revenue of $8,618M and net income of $1,819M, with basic and diluted EPS from continuing operations rising YoY. Company raised full-year 2026 revenue guidance to $37.1B-$38.5B backed by 9% volume growth and 16 brands with double-digit sales increases. Management announced $300M additional investment in Juncos, Puerto Rico facility (building on $650M prior upgrade), bringing total U.S. commitments to approaching $2B over past year. Leadership changes emphasize AI and data as core to future operations. Company completed $60.59B long-running share repurchase program and announced $2.52 cash dividend ex-date May 15. Lung cancer drug tarlatamab won China NMPA approval. Consensus analyst rating is Hold with $350.89 average 12-month target, +8.35% upside from current price.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| ABBVABBVIE | $220.97 | +3.02% | +5.8% | 13.6x | 0.31 | $391.5B |
| AMGNAMGEN | $350.02 | +3.73% | +8.1% | 14.9x | 0.42 | $189.2B |
| GILDGILEAD | $124.15 | -4.87% | -4.1% | 12.9x | 0.33 | $154.3B |
| VRTXVERTEX | $450.36 | +3.88% | +3.2% | 21.0x | 0.31 | $114.3B |
| REGNREGENERON | $614.19 | -4.42% | -2.3% | 11.4x | 0.24 | $64.5B |
| BIIBBIOGEN | $198.75 | +4.90% | +3.5% | 11.9x | 0.18 | $29.3B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price above both MAs — bullish structure.