Amgen (AMGN) received a key approval from the European Commission for Tezspire as an add-on therapy for severe chronic rhinosinusitis with nasal polyps, following strong Phase III results. The company is also preparing to share late-stage Repatha clinical data at an upcoming cardiology meeting, and its third quarter earnings report is just around the corner.
See our latest analysis for Amgen.
Amgen’s share price has climbed 15.1% year-to-date, supported by pipeline progress and steady product launches like Tezspire’s recent European approval. Its 1-year total shareholder return of -3.4% shows some momentum has faded after earlier gains. Dividend consistency and high-profile clinical trial updates offer new points of investor focus as the company heads into earnings season.
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With key drug launches, fresh clinical data ahead, and mixed recent returns, the big question now is whether Amgen’s shares still offer room for upside or if the market is already factoring in its future growth prospects.
With the most watched narrative pointing to a fair value just above Amgen’s last close, the gap is modest but hints at untapped potential driven by company fundamentals. Investors are watching closely to see if volume growth and product launches can drive upside in the next cycle.
Advancements in personalized and targeted therapies, reflected in the robust late-stage pipeline (for example, MariTide for obesity/type 2 diabetes, Repatha and olpasiran for cardiovascular, and multiple bispecific T-cell engagers for oncology) position Amgen to launch high-margin, first-in-class products that drive both top-line growth and margin expansion in the coming years.
Want to know what’s behind these expectations for future performance? The narrative relies on bold assumptions about margin growth and blockbuster earnings projections rarely seen in this sector. Only by reading further will you discover which financial forecasts are fueling this targeted valuation.
Result: Fair Value of $311.88 (UNDERVALUED)
Have a read of the narrative in full and understand what’s behind the forecasts.
However, mounting drug pricing pressures and intensifying biosimilar competition could threaten Amgen’s revenue potential if market conditions worsen or if exclusivity is lost.
Find out about the key risks to this Amgen narrative.
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