Inside the research
Amgen Inc.
AMGN Research profile · latest available data
Price overview
$414.61
▲ +8.57 (+2.1%)
| 52w hi | $444.12 |
|---|---|
| 52w lo | $263.86 |
| Vol | 2.21M |
| As of | 25 Sep 2026 |
The Verdict
Our score +0.30
| Short | +0.11 |
|---|---|
| Medium | +0.42 |
| Long | +0.46 |
computed 2026-09-27
Key fundamentals
Amgen Inc.
Healthcare · Drug Manufacturers - General
| Market cap | $224.15B |
|---|---|
| Enterprise value | $267.47B |
| Trailing P/E | 25.77x |
| Forward P/E | 16.96x |
| EV / EBITDA | 15.49x |
| P / S (ttm) | 5.88x |
| Profit margin | 23.0% |
| Return on equity | 91.5% |
| Revenue growth | +9.5% |
| Earnings growth | +64.9% |
| Debt / equity | 490.28 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.30 | |
| Sector | +0.08 | |
| Technical | +0.12 | |
| Earnings | +0.00 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel for the treatment of rheumatoid arthritis, plaque psoriasis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout. It also markets other products, including PROLIA, REPATHA, OTEZLA, ENBREL, EVENITY, XGEVA, TEPEZZA, BLINCYTO, NPLATE, TEZSPIRE, KYPROLIS, ARANESP, KRYSTEXXA AND VECTIBIX, MVASI, PAVBLU, UPLIZNA, IMDELLTRA/IMDYLLTRA, AMJEVITA/AMGEVITA, TAVNEOS, NEULASTA, LUMAKRAS/LUMYKRAS, RAVICTI, PARSABIV, AIMOVIG, WEZLANA/WEZENLA, AND PROCYSBI. The company serves healthcare providers, including physicians or their clinics, dialysis centers, hospitals, and pharmacies. It distributes its products through pharmaceutical wholesale distributors. The company has collaboration agreements with AstraZeneca plc for the development and commercialization of TEZSPIRE; BEONE MEDICINES LTD. to develop and commercialize Aimovig; UCB for the development and commercialization of EVENITY; Kyowa Kirin Co., Ltd. for rocatinlimab development and commercialization; and BeiGene, Ltd. for oncology products expansion and development. The company was incorporated in 1980 and is headquartered in Thousand Oaks, California.
Risk Metrics
| Beta vs SPX | 0.47 |
|---|---|
| Corr SPX | 0.26 |
| Annual vol | 28.4% |
| Annual ret | +14.3% |
| Sharpe | 0.50 |
| Max DD | -22.9% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $353.07 |
|---|---|
| High / Low | $432.00 / $200.00 |
| Median | $352.50 |
| Analysts | 30 |
| Strong Buy | 4 | |
|---|---|---|
| Buy | 10 | |
| Hold | 18 | |
| Sell | 2 | |
| Strong Sell | 1 |
Recent rating actions
| 2026-05-04 | Guggenheim | → Neutral |
| 2026-05-01 | Truist Securities | → Hold |
| 2026-04-21 | Canaccord Genuity | → Hold |
| 2026-04-13 | UBS | → Buy |
| 2026-04-10 | Morgan Stanley | → Equal-Weight |
| 2026-04-09 | Guggenheim | → Neutral |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-08-04 | Earnings Release, Exhibits | read |
| 2026-07-31 | 1.05 | read |
| 2026-05-20 | Shareholder Vote | read |
| 2026-05-19 | Officer / Director Change | read |
| 2026-04-30 | Earnings Release, Exhibits | read |
| 2026-04-22 | Officer / Director Change, Exhibits | read |
| 2026-02-19 | Material Agreement, Exhibits | read |
| 2026-02-03 | Earnings Release, Exhibits | read |
| 2026-01-30 | Termination of Agreement, Exhibits | read |
| 2025-11-04 | Earnings Release, Exhibits | read |
| 2025-08-05 | Earnings Release, Exhibits | read |
| 2025-05-27 | Shareholder Vote | read |
Insider Trades
| Date | Insider | Role | Action | Shares | Value |
|---|---|---|---|---|---|
| 2026-08-13 | Khosla Rachna | SVP, Business Development | Option exercise | 1.25K | $203.58K |
| 2026-08-13 | Khosla Rachna | SVP, Business Development | Sell | 1.25K | $521.36K |
| 2026-08-11 | Khosla Rachna | SVP, Business Development | Sell | 2.00K | $825.13K |
| 2026-08-07 | Drake Michael V | Grant | 64 | — | |
| 2026-08-07 | ISHRAK OMAR | Grant | 85 | — | |
| 2026-08-07 | Busch Matthew C. | VP, Finance & CAO | Grant | 730 | — |
| 2026-08-07 | HOLLEY CHARLES M | Grant | 103 | — | |
| 2026-08-06 | Miller Derek | SVP, Human Resources | Option exercise | 2.07K | $336.42K |
| 2026-08-06 | Miller Derek | SVP, Human Resources | Sell | 2.07K | $832.86K |
| 2026-08-06 | Miller Derek | SVP, Human Resources | Option exercise | 1.82K | $323.15K |
Flow & Concentration
| Insider 180d net | -$4.11M |
|---|---|
| Insider buys / sells | 0 / 6 |
| Insider bias | Sellers |
| 13F holders | 8 |
| Top-5 share | 99.2% |
| HHI | 5,828 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| State Street Corp | $11.07B | 30.56M |
| Fidelity / FMR LLC | $1.26B | 3.49M |
| Capital Research / Capital World | $1.21B | 3.33M |
| Citadel Advisors | $894.21M | 2.47M |
| Millennium Management | $174.99M | 483.24K |
| AQR Capital Management | $107.77M | 300.01K |
| Bridgewater Associates | $7.92M | 21.87K |
| T. Rowe Price Group | $1.43M | 3.96M |
As of 2026-06-30
Dividends
| Yield (TTM) | 1.18% |
|---|---|
| $ / share (TTM) | $4.90 |
| 5y CAGR | +8.3% |
Annual dividend per share
| 2021 | $7.04 |
|---|---|
| 2022 | $7.76 |
| 2023 | $8.52 |
| 2024 | $9.00 |
| 2025 | $9.52 |
| 2026 | $2.52 |
Federal Contracts
| Amount | Agency | Description |
|---|---|---|
| $773.88M | Department of Health and Human Services | TREATMENT FOR USE IN A MASS CASUALTY EVENT WHERE THROMBOCYTOPENIA OR PLATELET LO |
| $154.44M | Department of Health and Human Services | IGF::OT::IGF RTOR NUMBER: RTOR-CSF-0005 ACQUISITION OF COLONY STIMULATING FACTOR |
| $26.41M | Department of Health and Human Services | THIS CONTRACT IS TO ADVANCE THE DEVELOPMENT OF ROMIPLOSTIM FOR TREATMENT OF HEMA |
| $7.29M | Department of Health and Human Services | NPLATE ADMINISTRATION KIT DEVELOPMENT FOR THE TREATMENT OF APPROVED INDICATIONS, |
| $811.92K | Department of Health and Human Services | VENDOR MANAGED INVENTORY (VMI) SERVICES FOR USG PROCURED 165,906 DOSES OF NEULAS |
| $657.41K | Department of Health and Human Services | RTOR NUMBER: RTOR-CSF-0004 MAINTENANCE OF PREVIOUSLY PURCHASED COLONY STIMULATIN |
| $65.21K | Department of Veterans Affairs | TAVNEOS (AVACOPAN) |
SEC Filings
The Long Run
FY 2009–2025 · 17 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $36.75B | +5.8% | |
| Gross profit | $4.38B | +3.2% | |
| Operating income | $9.08B | +3.2% | |
| Net income | $6.72B | +2.4% | |
| Cash from ops | $8.47B | +2.2% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $408.25 | $415.20 | $404.19 | $414.61 | 2.21M |
| Sep 24 | $406.09 | $409.99 | $403.88 | $406.04 | 2.52M |
| Sep 23 | $410.09 | $415.76 | $404.34 | $406.09 | 2.82M |
| Sep 22 | $405.25 | $413.00 | $398.52 | $410.24 | 3.72M |
| Sep 21 | $385.71 | $394.50 | $381.90 | $393.16 | 2.89M |
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