Amgen Inc. (AMGN) Stock Price & Analysis
Amgen Inc. (AMGN) closed at USD 447.28 on Thursday, October 22, 2026, up 2.04% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 438.34; the Oct 22, 2026 session ranged USD 437.19–450.98 on volume of 3,103,849 shares. Market capitalization is $241.81B, with a 52-week range of USD 288–450.98 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:26 UTC.
Also available as compact Markdown for AI agents: nexqual.com/AMGN.md
Key facts (AMGN)
- Last four reported quarters (through Jun 30, 2026): revenue $38.1B, net income $8.74B (23.0% margin), free cash flow $10.2B (SEC filings).
- Valuation: P/E 27.7x (avg 26.9x at the last 3 fiscal year-ends), EV/EBITDA 20.2x, net debt $43.3B.
- 4 of 80 tracked superinvestors hold AMGN (13F, Q2 2026 (1 investor on Q3 2026, filed early)): 0 new, 1 added, 3 reduced, 0 unchanged.
- Analysts: Hold (mean 2.74 on a 1–5 scale) (34 analysts), mean target USD 396.7 (range 225–500).
- Total return with dividends: 1Y +57.0% vs S&P 500 +14.9%; 5Y +149.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-03, EPS estimate USD 5.79, revenue estimate $10.1B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (AMGN)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $26.0B | $26.3B | $28.2B | $33.4B | $36.8B | $38.1B |
| Gross profit | $19.5B | $19.9B | $19.7B | $20.6B | $24.7B | — |
| Operating income | $7.64B | $9.57B | $7.90B | $7.26B | $9.08B | $11.4B |
| Net income | $5.89B | $6.55B | $6.72B | $4.09B | $7.71B | $8.74B |
| EPS (diluted) | $10.28 | $12.11 | $12.49 | $7.56 | $14.23 | — |
| Free cash flow | $8.38B | $8.79B | $7.36B | $10.4B | $8.10B | $10.2B |
| Gross margin | 75.2% | 75.7% | 70.0% | 61.5% | 67.2% | — |
| Operating margin | 29.4% | 36.3% | 28.0% | 21.7% | 24.7% | 30.0% |
| Net margin | 22.7% | 24.9% | 23.8% | 12.2% | 21.0% | 23.0% |
| Revenue growth | +2.2% | +1.3% | +7.1% | +18.6% | +10.0% | — |
| Cash + short-term investments | $8.04B | $9.30B | $10.9B | — | — | — |
| Total debt | $33.3B | $38.9B | $64.6B | $60.1B | $54.6B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (AMGN)
P/E 27.7x · P/S 6.3x · EV/EBITDA 20.2x · EV/Sales 7.5x · P/FCF 23.8x · P/B 20.7x · FCF yield 4.21% · Earnings yield 3.62% · Dividend yield (paid, TTM) 2.19% · Net debt $43.3B · EV $285B
P/E at fiscal year-ends: Dec 2025 23.0x, Dec 2024 34.5x, Dec 2023 23.1x.
Superinvestors (SEC 13F-HR, Q2 2026) (AMGN)
4 of 80 tracked investors hold AMGN (1 investor on Q3 2026, filed early). Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change | Quarter |
|---|---|---|---|---|---|
| Torray Funds | 2.92% | $21.6M | Added +10.7% | Q2 2026 | |
| David Katz | Matrix Asset Advisors | 2.91% | $35.4M | Reduced -18.4% | Q3 2026 |
| Mairs & Power | Mairs & Power Funds | 0.02% | $1.8M | Reduced -0.8% | Q2 2026 |
| Dodge & Cox Funds | Dodge & Cox | <0.01% | $4.6M | Reduced -4.1% | Q2 2026 |
Analysts (AMGN)
Consensus Hold (mean 2.74 on a 1–5 scale), 34 analysts; mean target USD 396.7 (low 225, high 500).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | Barclays | Target raised | Equal-Weight | $380 → $400 |
| 2026-10-13 | Guggenheim | Target lowered | Neutral | $388 → $378 |
| 2026-10-12 | BMO Capital | Target lowered | Market Perform | $450 → $415 |
| 2026-10-12 | Wells Fargo | Target lowered | Equal-Weight | $435 → $430 |
| 2026-10-09 | UBS | Target raised | Buy | $430 → $470 |
| 2026-10-08 | RBC Capital | Target raised | Outperform | $400 → $430 |
| 2026-10-08 | Cantor Fitzgerald | Target raised | Neutral | $400 → $440 |
| 2026-10-07 | Truist Securities | Target raised | Hold | $362 → $380 |
| 2026-10-07 | Morgan Stanley | Target lowered | Equal-Weight | $362 → $359 |
| 2026-09-29 | Scotiabank | Target raised | Sector Outperform | $450 → $500 |
| 2026-09-10 | HSBC | Downgrade | Buy → Hold | $445 → $425 |
| 2026-09-08 | BMO Capital | Downgrade | Outperform → Market Perform | $450 |
Total return (dividends reinvested) (AMGN)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +57.0% | +149.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +57.2% | +20.0% |
| Volatility (annualized) | 29.6% | 25.3% |
| Max drawdown | -16.6% (Feb 2026→May 2026) | -23.1% (Nov 2022→May 2023) |
Companies that name AMGN in their SEC reports
| Relationship to AMGN | Company | Filing | Sentence |
|---|---|---|---|
| partner | Neumora Therapeutics, Inc. (NMRA) | 10-K Mar 30, 2026 | “Until a specified period of time following the achievement of the first successful Phase 2 clinical trial for any licensed product, if we choose to sell, transfer, sublicense or divest rights to a licensed product in certain major markets, Amgen has a time-limited, exclusive right of first negotiation to enter into an agreement with us for such rights.” |
| partner | Jasper Therapeutics, Inc. (JSPR) | 10-K Mar 30, 2026 | “have an exclusive license agreement with Amgen Inc. ("Amgen") for the development and commercialization of the briquilimab” |
| partner | CytomX Therapeutics, Inc. (CTMX) | 10-K Mar 16, 2026 | “We currently have several strategic alliances with major multinational drug companies, including Amgen, Inc. ("Amgen"), Bristol Myers Squibb, Astellas Pharma Inc. ("Astellas"), Regeneron Pharmaceuticals Inc. ("Regeneron"), and ModernaTX, Inc., a wholly owned subsidiary of Moderna, Inc ("Moderna").” |
| partner | Q32 Bio Inc. (QTTB) | 10-K Mar 10, 2026 | “Following the acquisition, Legacy Q32 agreed with Amgen to mutually terminate the Collaboration and Option Agreement (the "Horizon Collaboration Agreement") and the Asset Purchase Agreement (the "Purchase Agreement", and together with the Horizon Collaboration Agreement, the "Horizon Agreements"), each between Legacy Q32 and Horizon Therapeutics Ireland DAC ("Horizon").” |
| partner | Verastem, Inc. (VSTM) | 10-K Mar 4, 2026 | “In September 2021, we entered into a clinical collaboration agreement with Amgen, Inc. ("Amgen") to evaluate avutometinib in combination with Amgen's KRAS G12C inhibitor LUMAKRAS® (sotorasib) with and without defactinib in a Phase1/2 study entitled RAMP 203 in patients naïve to or previously treated with a KRAS G12C inhibitor.” |
| partner | TScan Therapeutics, Inc. (TCRX) | 10-K Mar 4, 2026 | “In addition, the Company is continuing to discover targets for Crohn's disease in partnership with Amgen.” |
| related | Zymeworks Inc. (ZYME) | 10-K Mar 2, 2026 | “Dr. Cesano has also held various management positions at Amgen Inc., Biogen Inc. (formerly Biogen Idec) and SmithKline Beecham Pharmaceuticals, where she helped to advance various oncology drugs through late-stage development and FDA approvals.” |
| partner | BeOne Medicines Ltd. (ONC) | 10-K Feb 26, 2026 | “On October 31, 2019, our wholly-owned subsidiary, BeOne Medicines I GmbH, entered into a Collaboration Agreement with Amgen, which became effective on January 2, 2020 (as amended, the "Amgen Collaboration Agreement").” |
| partner | Revolution Medicines, Inc. (RVMD) | 10-K Feb 25, 2026 | “In February 2025, we entered into a clinical collaboration with Amgen Inc. (Amgen) pursuant to which Amgen is evaluating its compound AMG 193, an MTA-cooperative PRMT5 inhibitor, in combination with daraxonrasib in patients with 2L PDAC as part of an Amgen-sponsored trial.” |
| partner | Xencor Inc (XNCR) | 10-K Feb 25, 2026 | “Amgen: Xaluritamig is a STEAP1 x CD3 2+1 XmAb bispecific T-cell engager that our partner Amgen is advancing for the treatment of patients with prostate cancer.” |
| partner | GENMAB A/S (GMAB) | 20-F Feb 17, 2026 | “Roche / Amgen Teprotumumab Collaboration” |
| partner | ALNYLAM PHARMACEUTICALS, INC. (ALNY) | 10-K Feb 12, 2026 | “Companies working on chemically synthesized siRNAs include but are not limited to ADARx Pharmaceuticals, Inc., or ADARx, Amgen Inc., Argo Biopharmaceutical Co., Ltd., or Argo, Aro Biotherapeutics, Arrowhead Pharmaceuticals, Inc., or Arrowhead, AstraZeneca plc, or AstraZeneca, Dyne Therapeutics, Inc., Eli Lilly and Company, GlaxoSmithKline plc, Novartis, Novo Nordisk A/S, or Novo Nordisk, SanegeneBio, Sarepta Thera…” |
| partner | ARROWHEAD PHARMACEUTICALS, INC. (ARWR) | 10-K Nov 25, 2025 | “The Company has entered into multiple license and collaboration agreements with leading biotech and pharmaceutical companies, including Sarepta Therapeutics, Inc., Amgen Inc., Takeda Pharmaceutical Company Limited, Glaxosmithkline Intellectual Property (No. 3) Limited and Novartis Pharma AG, for programs that the Company does not intend to commercialize independently.” |
| customer | DAXOR CORP (DXR) | 10-K Mar 28, 2012 | “manufactured by Amgen) to stimulate rapid red cell replacement; (c) if the patient is suitable for blood donation, remove one unit” |
AMGN analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $5.79 | $5.74 | +0.8% | $10.08B | 28 |
| Next quarter (ends Dec 2026) | $5.77 | $5.77 | +0.1% | $10.27B | 26 |
| Current fiscal year (ends Dec 2026) | $23.03 | $22.34 | +3.1% | $38.97B | 33 |
| Next fiscal year (ends Dec 2027) | $24.49 | $23.46 | +4.4% | $40.38B | 31 |
Key Statistics (as of October 23, 2026 at 09:26 UTC)
| Price | USD 447.28 |
|---|---|
| Change | ▲ 2.04% (up) |
| Previous Close | USD 438.34 |
| Open | USD 441.55 |
| Day Range | USD 437.19 – 450.98 |
| 52-Week Range | USD 288 – 450.98 |
| Volume | 3,103,849 shares |
| Market Cap | $241.81B |
| Exchange | NMS |
Technical Analysis (AMGN)
Nexqual's technical model rates AMGN "BUY" based on 5 bullish and 2 bearish signals across 127 daily candles, as of October 23, 2026 at 09:26 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 61.22 (neutral) |
| vs SMA50 | Above (USD 416.83) |
| MACD | 8.63 (positive) |
Analyst Ratings (AMGN)
Wall Street analysts rate AMGN "Hold" based on 34 analysts, with a mean price target of USD 396.7 (range USD 225–500), per Nexqual as of October 23, 2026 at 09:26 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 34 |
| Mean Target | USD 396.7 |
| High Target | USD 500 |
| Low Target | USD 225 |
| Buy / Hold / Sell | 12 / 17 / 5 |
Earnings (AMGN)
| Next Earnings Date | 2026-11-03 |
|---|---|
| EPS Estimate | USD 5.79 |
| Revenue Estimate | $10.08B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 6.29 vs est 5.62 ▲ beat |
| 2026-03-31 | USD 5.15 vs est 4.77 ▲ beat |
| 2025-12-31 | USD 5.29 vs est 4.73 ▲ beat |
| 2025-09-30 | USD 5.64 vs est 5.01 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Financials & Fundamentals (AMGN)
| Total Revenue | $38.09B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +9.50% |
| Gross Margin | +71.89% |
| Operating Margin | +35.55% |
| Profit Margin | +22.95% |
| ROE | +91.47% |
| Debt / Equity | 4.9 |
| Current Ratio | 1.37 |
| Total Cash | $13.99B |
| Total Debt | $57.30B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $10.18B (26.7% of revenue) |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Financial Health Score (AMGN)
Nexqual rates Amgen Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:26 UTC.
| Growth | Solid — Revenue +10% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 72%, operating 36% (last 12 months) |
| Balance Sheet | Critical — $14.0B cash and investments vs $57.3B debt (Jun 2026, SEC) |
| Cash Flow | Strong — FCF $10.2B (last 4 quarters to Jun 2026, SEC), 27% margin |
| Efficiency | Strong — ROE 91%, ROA 8.7% |
Ownership (AMGN)
| Insider Ownership | +0.23% |
|---|---|
| Institutional Ownership | +85.17% |
| Shares Outstanding | 540.63M |
| Float | 539.16M |
| Short % of Float | +2.60% |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Leadership (AMGN)
Amgen Inc. is led by Robert A. Bradway, Chairman & CEO, per Nexqual as of October 23, 2026 at 09:26 UTC.
| Chairman & CEO | Robert A. Bradway |
|---|---|
| Executive Vice President of Global Markets and Policy | Murdo Gordon |
| Executive Vice President | Peter H. Griffith |
| Executive VP & CFO | Thomas J. W. Dittrich |
| Executive Vice President of Operations | Esteban Santos |
Major Backers & Investors (AMGN)
Notable institutional backers of Amgen Inc. include Capital Group, Invesco, Charles Schwab Investment Management, Inc., according to Nexqual as of October 23, 2026 at 09:26 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Capital Group | 5.38% |
| Invesco | 3.02% |
| Charles Schwab Investment Management, Inc. | 2.78% |
| Morgan Stanley | 2.53% |
| Charles Schwab | 1.81% |
| Wells Fargo & Company | 1.34% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 9.27% |
| BlackRock | 9.13% |
| State Street | 5.65% |
| Geode Capital | 2.9% |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| AZN | AstraZeneca PLC | USD 172.57 | ▲ 2.45% |
| NVS | Novartis AG | USD 156.27 | ▲ 1.52% |
| GILD | Gilead Sciences, Inc. | USD 157.19 | ▲ 2.36% |
| NVO | Novo Nordisk A/S | USD 39.43 | ▲ 0.95% |
| PFE | Pfizer, Inc. | USD 30.42 | ▲ 1.91% |
| MRK | Merck & Company, Inc. | USD 147.24 | ▼ 1.76% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:26 UTC. This page is informational and not investment advice.
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