Key Highlights:
- Amgen Inc. (AMGN, Financial) reports a robust 24% rise in non-GAAP EPS for Q1, reaching $4.90.
- Product sales see an 11% boost, with 14 drugs, including Repatha and Tezspire, showing double-digit growth.
- Analysts project a potential 12.50% upside in Amgen's stock price based on current estimates.
Amgen's Impressive Earnings Performance
In a remarkable streak, Amgen (AMGN) has exceeded earnings expectations for three consecutive quarters. The company reported a 24% increase in its non-GAAP earnings per share (EPS), reaching an impressive $4.90 in the first quarter. This growth is underpinned by an 11% increase in product sales, with 14 of its drugs, notably Repatha and Tezspire, experiencing robust double-digit growth. Such performance demonstrates Amgen's solid position in the biopharmaceutical sector.
Wall Street Analysts' Outlook
Wall Street analysts have set a one-year average price target of $319.24 for Amgen Inc. (AMGN, Financial), reflecting a potential upside of 12.50% from its current price of $283.78. This estimate ranges from a high of $400.00 to a low of $185.00, according to 25 analysts. For a more comprehensive view, visit the Amgen Inc (AMGN) Forecast page.
Brokerage Recommendations and GF Value
Amgen holds an "Outperform" rating with an average brokerage recommendation of 2.5, according to 33 brokerage firms. The rating scale spans from 1 (Strong Buy) to 5 (Sell), indicating a favorable outlook for the company's performance.
Additionally, according to GuruFocus estimates, the GF Value of Amgen Inc. (AMGN, Financial) is projected to be $347.23 in one year. This suggests a potential upside of 22.36% from the current price level. The GF Value represents GuruFocus' fair value estimate, derived from historical trading multiples and the anticipated future business performance. For further details, please visit the Amgen Inc (AMGN) Summary page.
