Amgen Inc. ($AMGN) Stock Forecast: Down 6.4% Today

What is Amgen Inc.?

Amgen Inc. (AMGN) is a biotechnology company recognized for its innovative drug development and prominent role in the healthcare industry. The company maintains a varied product portfolio targeting a range of diseases and conditions, with a strong emphasis on research and development to fuel its expansion.

Why is Amgen Inc. going down?

AMGN stock is down 6.4% on May 1, 2026 17:00

• Despite strong first-quarter results that surpassed earnings and revenue expectations, Amgen witnessed a notable downturn in its stock, opening with a 4.69% decrease.
• Market response was negative following the FDA's proposal to withdraw the autoimmune drug Tavneos, a decline in Prolia sales due to patent expiration, and the disclosure of a new IRS risk. These overshadowed the positive performance of other drugs and updates in the company's pipeline.
• Investor apprehension stemmed from these adverse developments, underscoring the significance of regulatory challenges and patent expirations in influencing stock performance, despite overall favorable financial results and growth prospects for Amgen.

AMGN Price Chart

AMGN Technical Analysis

AMGN News

Amgen's Q1 Earnings Top Estimates, 16 Drugs Deliver Double-Digit Gains

Amgen reported strong first-quarter results, surpassing both earnings and revenue estimates. Sixteen of its products achieved double-digit sales growth, helping to offset patent expirations and lower sales of mature drugs. The company also slightly raised its financial outlook for 2026 and continues to advance its obesity candidate, MariTide.

https://www.theglobeandmail.com/investing/markets/stocks/NVO/pressreleases/1648665/amgens-q1-earnings-top-estimates-16-drugs-deliver-double-digit-gains/

Amgen's Q1 Earnings Top Estimates, 16 Drugs Deliver Double-Digit Gains

Amgen reported strong first-quarter results, exceeding analyst estimates for both earnings and revenue, with adjusted earnings per share of $5.15 and total revenues of $8.62 billion. The company saw double-digit sales growth across 16 products, including key drugs like Repatha and Evenity, which helped offset the impact of patent erosion on Prolia and Xgeva. Amgen also slightly raised its revenue and EPS guidance for 2026, and is advancing its obesity candidate, MariTide, with several phase III studies underway.

https://www.theglobeandmail.com/investing/markets/stocks/LLY/pressreleases/1648665/amgens-q1-earnings-top-estimates-16-drugs-deliver-double-digit-gains/

Amgen Inc Stock (AMGN) Opened Down by 4.69% on May 1: A Full Analysis

Amgen Inc (AMGN) stock opened down by 4.69% despite beating first-quarter 2026 earnings and revenue estimates. The decline was primarily driven by the FDA's proposed withdrawal of the autoimmune drug Tavneos, a 34% drop in Prolia sales due to patent expiration, and a newly disclosed IRS risk. These negative factors overshadowed strong performance in other drugs and positive pipeline updates, leading to investor concern.

https://www.tradingkey.com/news/market-movers/261847296-market-movers-amgn-20260501

EDMP Inc Acquires Over 53,000 Shares of Sonoco Products Company

EDMP Inc has acquired 53,828 shares of Sonoco Products Company (NYSE:SON) for an estimated $2.77 million, marking a new position for the investment firm. The acquisition represents 2.4% of EDMP Inc.'s reportable assets, placing it just outside their top five holdings. Sonoco Products Company has a forward P/E ratio of 7.78, an EV/EBITDA of 6.27, and a dividend yield of 4.2%.

https://www.harianbasis.co/en/edmp-acquires-sonoco-products-company-shares

Amgen Inc. (NASDAQ:AMGN) Q1 2026 Earnings Call Transcript

Amgen Inc. reported strong Q1 2026 earnings, exceeding expectations with an EPS of $5.15 against an anticipated $4.77. The company highlighted the successful performance of its six key growth drivers, particularly Repatha and Evenity, and provided updates on its pipeline, including the promising obesity drug Meritide, with new Phase III studies focusing on less frequent dosing and switching from other injectables. Amgen also discussed its increasing use of AI in R&D and manufacturing, and raised its full-year 2026 revenue and non-GAAP EPS guidance.

https://www.insidermonkey.com/blog/amgen-inc-nasdaqamgn-q1-2026-earnings-call-transcript-1752142/

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Amgen Inc. Price History

31.02.2026 - AMGN Stock was down 0.6%

• Amgen experienced a bearish movement despite reporting strong quarterly earnings and positive guidance for the fiscal year. This could be attributed to several factors:
• The market may have reacted negatively to the increased stake acquisitions by Mn Services Vermogensbeheer B.V. and Brookstone Capital Management, possibly signaling concerns about overvaluation or lack of confidence in the company's future performance.
• A recent report on the booming U.S. Rivaroxaban market might have shifted investor focus towards competitors in the cardiovascular space, leading to a sell-off of Amgen shares.
• Analyst warnings about potential setbacks for key launches or competitive pressures from generics in the biotechnology sector could have also contributed to the bearish sentiment surrounding Amgen's stock.
• Despite a recent stake acquisition, the overall market movement may have been influenced by broader industry trends and investor sentiment towards biotech companies rather than individual investment decisions.

05.10.2025 - AMGN Stock was up 5.3%

• Q3 earnings and revenues for Amgen (AMGN) surpassed expectations, indicating strong financial performance and potentially positive future outlook.
• Despite a slight decline in the current session, the stock has demonstrated resilience over the past month and year, suggesting a reliable long-term investment opportunity.
• Investors are closely monitoring Amgen's Q3 results, particularly focusing on the impact of newer drugs, biosimilar competition, and pricing pressures on the company's growth trajectory.
• The optimistic sentiment surrounding Amgen's financial performance and strategic positioning likely played a role in the bullish movement in the stock today.

05.10.2025 - AMGN Stock was up 7.7%

• Amgen's strong bullish movement today can be attributed to its impressive Q3 earnings and sales beat, surpassing estimates and showcasing double-digit growth driven by key drugs.
• The company's decision to raise its 2025 outlook has instilled confidence in investors, leading to a positive market response.
• Investors are likely encouraged by the company's ability to consistently outperform expectations, as seen in the significant earnings and revenue surprises for the quarter.
• The market's positive reaction also reflects investors' anticipation of Amgen's future performance, as they delve deeper into the company's potential beyond just headline estimates.

07.00.2026 - AMGN Stock was up 5.0%

• Amgen's acquisition of Dark Blue Therapeutics for $840 million, aimed at expanding its oncology pipeline, has instilled optimism among investors regarding the company's strategic growth plans.
• The raise in Amgen's dividend to $2.52 indicates a sustainable payout ratio and a robust earnings growth projection, appealing to income-focused investors and contributing to the stock's performance.
• Comparatively, while Regeneron Pharmaceuticals has had quieter institutional appeal, Amgen's proactive stance in bolstering its portfolio and market standing has garnered positive attention.
• The general bullish outlook on Amgen is also influenced by the optimistic prospects within the broader biotech sector, where investors are acknowledging the potential driven by innovative treatments and strategic acquisitions for future growth.

05.00.2026 - AMGN Stock was down 1.4%

• The decline in Amgen's stock today may be linked to AbbVie's entry into the lung cancer drug market, potentially posing a competitive challenge for Amgen and affecting investor sentiment.
• Despite Amgen's positive quarterly earnings and dividend increase, market reaction might be influenced by the uncertainty surrounding the impact of AbbVie's new drug.
• Sizeable investments from D.A. Davidson & CO., Greenspring Advisors LLC, and Railway Pension Investments Ltd. indicate confidence in Amgen's future outlook. However, market caution could be attributed to the competitive landscape in lung cancer treatments.
• Overall, market sentiment towards Amgen remains optimistic, evident from analyst ratings and price targets. However, today's bearish trend suggests that investors are attentive to evolving competition within the biopharmaceutical sector.

01.04.2026 - AMGN Stock was down 5.4%

• Despite surpassing first-quarter earnings and revenue projections, Amgen experienced a 4.69% decline attributed to factors such as the FDA's potential withdrawal of the autoimmune drug Tavneos, a decrease in Prolia sales, and the revelation of IRS-related risks.
• The stock's downward movement was driven by these issues, overshadowing positive performances of other medications and encouraging pipeline updates, causing concern among investors and driving a bearish trend.
• Reductions in Amgen stakes by institutional investors like the New York State Teachers Retirement System and Danske Bank also played a role in pushing the stock price lower.
• The market's response underscores the significance of regulatory hurdles and patent expirations in the pharmaceutical sector, emphasizing the necessity for diversified drug portfolios and robust risk management practices for companies like Amgen.

01.04.2026 - AMGN Stock was down 6.4%

• Despite strong first-quarter results that surpassed earnings and revenue expectations, Amgen witnessed a notable downturn in its stock, opening with a 4.69% decrease.
• Market response was negative following the FDA's proposal to withdraw the autoimmune drug Tavneos, a decline in Prolia sales due to patent expiration, and the disclosure of a new IRS risk. These overshadowed the positive performance of other drugs and updates in the company's pipeline.
• Investor apprehension stemmed from these adverse developments, underscoring the significance of regulatory challenges and patent expirations in influencing stock performance, despite overall favorable financial results and growth prospects for Amgen.

04.01.2026 - AMGN Stock was up 4.3%

• Impressive annual product sales and a dispute with the FDA over Tavneos did not deter investors, as the stock soared to new heights.
• The company's wide economic moat, driven by its innovative drugs in cardiology and immunology, supported the bullish movement.
• Strong financial results for Q4 2025 and the full year, exceeding earnings expectations, along with an optimistic outlook for 2026, fueled investor confidence in Amgen's future growth potential.
• The market's positive reaction to Amgen's performance could also be attributed to the overall bullish sentiment in the biotechnology sector, as evidenced by Ayrmid's breakthrough in stem cell mobilization for gene therapies.

05.01.2026 - AMGN Stock was up 6.1%

• Today's positive movement in Amgen's stock could be a result of favorable investor sentiment following its strong quarterly earnings and increased dividend payout, indicating confidence in its product pipeline.
• The announcement of a SPAC merger by stem cell specialist PrimeGen US may have contributed to a positive market sentiment towards biotech firms, including Amgen, as non-traditional paths to public markets gain attention.
• Despite a maintained Underperform rating by Bank of America, referencing a shifted trial timeline for Amgen, the market appears more focused on the company's strong financial performance and growth prospects, overshadowing immediate concerns.
• Amgen's focus on diverse growth drivers, investments in research and development, and disciplined capital allocation during its recent earnings call likely reassured investors about the company's long-term potential for value creation, driving the positive movement.

06.00.2026 - AMGN Stock was up 2.3%

• AMGN's bullish movement can be attributed to its strategic acquisition of Dark Blue Therapeutics, a UK-based cancer drug developer, in a deal worth up to $840 million. This acquisition expands AMGN's oncology portfolio and strengthens its position in the biotechnology industry.
• The acquisition of Dark Blue Therapeutics adds an investigational small molecule targeting specific types of acute myeloid leukemia (AML) to AMGN's pipeline, showcasing the company's commitment to advancing oncology therapeutics.
• The market likely responded positively to the news as the acquisition aligns with AMGN's research focus on targeted protein degradation and leukemia therapeutics, demonstrating its dedication to enhancing its early oncology discovery efforts.
• Additionally, the promising preclinical data on the anti-cancer activity of the MLLT1/3 protein degrader acquired through this deal further fueled investor optimism in AMGN's future growth prospects in the oncology space.

04.01.2026 - AMGN Stock was up 7.4%

• Amgen's bullish movement can be attributed to its impressive Q4 2025 earnings report, exceeding expectations with robust growth across its portfolio and optimistic outlook for 2026.
• The company's refusal to pull the rare disease drug Tavneos from the market, despite FDA concerns, showcases Amgen's confidence in the drug's effectiveness and benefit-risk profile, potentially boosting investor confidence.
• Analysts raising price targets for Amgen indicate continued growth potential, supported by its diversified portfolio and focus on cardiovascular treatments.
• The overall positive sentiment towards Amgen, combined with its strategic growth initiatives and strong financial performance, likely contributed to the stock's bullish movement today.

04.01.2026 - AMGN Stock was up 6.9%

• Amgen's upward trend today is influenced by various factors:
• Analysts have a favorable view of the stock, as evidenced by a higher price target set by Royal Bank of Canada and strong Q4 earnings that surpassed predictions.
• The company's focus on cardiovascular treatments and groundbreaking drugs like Repatha has been instrumental in sustaining free cash flow and fostering growth opportunities.
• Despite a disagreement with the FDA regarding the inflammatory drug Tavneos, Amgen's substantial annual product sales demonstrate its resilience in the industry.
• Amgen's optimistic prospects are further supported by its broad economic moat and strategic position in critical therapeutic areas.