Key Stats for Amgen Stock
- This Week Performance: +3.5%
- 52-Week Range: $361.4 to $390.1
- Current Price: $388.2
What Happened?
With 18 products hitting record sales and 14 crossing $1 billion annually, Amgen‘s $388.2 stock price reflects a business operating at peak commercial breadth.
Driving the latest momentum, Amgen priced a $4.0 billion senior notes offering on February 19, signaling aggressive capital deployment into manufacturing and late-stage pipeline development.
Powering the thesis, Repatha surged 36% to over $3 billion in sales while UPLIZNA exploded 73% to $655 million, with the European Commission approving UPLIZNA for generalized myasthenia gravis on February 12.
Beyond today’s numbers, the market is re-rating Amgen from a mature large-cap biotech into a high-conviction growth compounder anchored by MariTide’s potential paradigm shift in obesity and metabolic disease.
Chief Executive Officer Robert Bradway stated on the Q4 earnings call that “14 of our products achieved blockbuster status,” contextualizing a record $7.2 billion R&D investment and $8.1 billion in free cash flow generated in 2025.
Further reinforcing conviction, Amgen committed over $3.1 billion across U.S. manufacturing expansions in Ohio, North Carolina, Puerto Rico, and California, signaling deep confidence in sustaining pipeline-driven volume growth.
Looking ahead, MariTide’s six active Phase III studies and xaluritamig’s prostate cancer program position Amgen to dominate both the obesity and oncology markets well into the next decade.
Wall Street’s Take on AMGN Stock
The European Commission’s UPLIZNA approval for generalized myasthenia gravis on February 12 directly expands Amgen’s addressable rare disease market beyond current consensus estimates.
Fundamentally, revenue grew 10% in 2025 to $36.8 billion while normalized EPS climbed 10.1% to $21.8, confirming genuine earnings acceleration across a diversified portfolio.
Currently, 9 analysts rate AMGN a Buy and 4 rate it Outperform, with a mean price target of $350.0, implying 9.8% downside from $388.2, revealing analyst fatigue as the stock has outrun consensus.
Notably, the target range spans $200.0 to $432.0, where the high end requires successful MariTide Phase III data and the low end prices in pipeline failures across multiple late-stage programs.
What Does the Valuation Model Say?
TIKR’s mid-case model targets $460.0 by December 2030, delivering an 18.5% total return at a 3.6% IRR from today’s $388.2.
The model signals the stock is roughly fairly valued today, but MariTide success could dramatically reprice it higher.
The market is pricing Amgen as a maturing biotech, yet UPLIZNA alone grew 73% to $655 million in 2025.
Amgen invested a record $7.2 billion in R&D in 2025, signaling this is a growth engine, not a dividend coaster.
However, if MariTide’s Phase III chronic weight management data disappoints, the entire obesity premium embedded in the stock collapses immediately.
Watch the MariTide Phase III chronic weight management readout, the single data point that confirms or breaks the long-term growth thesis.
Amgen is fairly valued today but becomes meaningfully undervalued the moment MariTide delivers positive Phase III data; watch that readout closely.
Should You Invest in Amgen Inc.?
The only way to really know is to look at the numbers yourself. TIKR gives you free access to the same institutional-quality financial data that professional analysts use to answer exactly that question.
Pull up AMGN stock and you’ll see years of historical financials, what Wall Street analysts expect for revenue and earnings in the quarters ahead, how valuation multiples have moved over time, and whether price targets are trending up or down.
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