Amgen (NASDAQ:AMGN) Releases Quarterly Earnings Results, Beats Estimates By $0.66 EPS

Posted by Brenda Bartman on Nov 5th, 2026

Amgen (NASDAQ:AMGN – Get Free Report) released its quarterly earnings results on Tuesday. The medical research company reported $6.45 earnings per share for the quarter, topping analysts’ consensus estimates of $5.79 by $0.66, FiscalAI reports. The company had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $10.07 billion. Amgen had a return on equity of 128.15% and a net margin of 24.14%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.64 earnings per share.

Here are the key takeaways from Amgen’s conference call:

Third-quarter revenue rose 8% year over year to $10.4 billion, with all six key growth drivers posting double-digit growth and collectively increasing 27% to more than 70% of product sales.
Amgen raised its 2026 guidance to revenue of $38.9 billion-$39.7 billion and non-GAAP EPS of $22.90-$23.70, supported by $3.7 billion in quarterly free cash flow and a 47% non-GAAP operating margin.
The company highlighted strong commercial momentum from Repatha, EVENITY, TEZSPIRE, UPLIZNA, BLINCYTO, and IMDELLTRA; IMDELLTRA sales more than doubled to $406 million and its first-line maintenance trial showed median overall survival of 21.1 months versus 12.7 months for IMFINZI alone.
Amgen reported positive Phase III results for IMDELLTRA, TEZSPIRE in eosinophilic esophagitis, and dazodalibep in systemic Sjögren’s disease, while advancing daxdilimab into Phase III and continuing development of MariTide, xaluritamig, and other pipeline programs.
Management expects higher operating expenses in the fourth quarter and plans approximately $2.6 billion of 2026 capital expenditures, including manufacturing investments to support commercial growth and a potential MariTide launch; however, it said 2027 operating margins should not decline from 2026 levels.

Amgen Stock Up 0.6%

Shares of AMGN stock traded up $2.88 during trading hours on Thursday, reaching $481.36. The company had a trading volume of 315,296 shares, compared to its average volume of 2,745,771. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. Amgen has a twelve month low of $312.39 and a twelve month high of $483.99. The company has a market capitalization of $260.24 billion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.43. The stock’s fifty day simple moving average is $421.56 and its 200 day simple moving average is $376.90.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be given a $2.52 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $10.08 annualized dividend and a dividend yield of 2.1%. Amgen’s dividend payout ratio is presently 62.65%.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the transaction, the senior vice president owned 6,404 shares in the company, valued at $2,642,098.28. This represents a 23.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.85% of the company’s stock.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

Positive Sentiment: Amgen reported Q3 adjusted EPS of $6.45 and revenue of $10.37 billion, topping estimates; revenue grew 8.5% year over year. It raised its full-year 2026 outlook, with growth in key products and pipeline progress supporting the stronger forecast. Amgen Q3 results
Positive Sentiment: A large real-world study found Repatha reduced fatal or nonfatal heart-attack risk by 20% compared with ezetimibe among people with ASCVD and prior statin use. The findings may strengthen the drug’s clinical case and support its growth prospects. Repatha real-world study
Positive Sentiment: Scotiabank raised its price target to $530 and maintained a sector-outperform rating, while other firms including UBS also lifted targets and retained bullish ratings. Scotiabank price target
Neutral Sentiment: Analyst opinions remain divided: Morgan Stanley raised its target but maintained an equal-weight rating, with its $410 target below the recent share price. That reflects caution about valuation and the outlook despite improved estimates. Morgan Stanley price target
Negative Sentiment: Declines in Prolia and Xgeva amid biosimilar competition remain a headwind, tempering the earnings beat and raising questions about how well newer growth products can offset erosion in established franchises. Q3 results and product competition

Wall Street Analyst Weigh In

AMGN has been the topic of a number of recent analyst reports. Cantor Fitzgerald increased their price target on Amgen from $440.00 to $465.00 and gave the stock a “neutral” rating in a research note on Wednesday. Royal Bank Of Canada increased their target price on Amgen from $430.00 to $470.00 and gave the stock an “outperform” rating in a research report on Wednesday. Sanford C. Bernstein lifted their target price on Amgen from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Wednesday. Wells Fargo & Company boosted their price target on Amgen from $430.00 to $460.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a research report on Sunday, October 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $413.38.

Get Our Latest Stock Analysis on Amgen

About Amgen

(Get Free Report)

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.