Amgen Growth Story Isn't Tapped Out Yet, Says Goldman

Amgen Inc. -1.51%

Amgen Inc.

AMGN

347.94

-1.51%

There is continued upside to the consensus estimates for Amgen Inc's (NASDAQ:AMGN) earnings in fiscal 2026 and beyond due to execution across its portfolio, according to Goldman Sachs.

The Amgen Analyst: Analyst Salveen Richter reiterated a Buy rating and a $403 price target.

The Amgen Thesis: Talks with management highlighted momentum across the company's key growth assets, therapeutic areas and portfolios, Richter said in the note.

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The analyst stated that Amgen's prospects for 2026 and beyond are underpinned by 6 key growth drivers:

  • Repatha
  • Evenity
  • Tezspire
  • Rare Disease
  • Innovative Oncology
  • Biosimilars

Discussions about Maritide's Phase II studies in obesity maintenance and Type 2 diabetes have "further increase their confidence in the drug’s commercial potential in both indications," he added.

"The discussion also touched on the other key caridiometabolic asset, olpasiran (Lp(a)), where management noted that the Ph3 update will likely come in 2027 (vs. YE26) and reiterated their confidence in having a best-in-class asset," Richter further wrote.

AMGN Price Action: Shares of Amgen had declined by 0.33% to $324.47 at the time of publication on Tuesday.

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