Amgen's shares have risen 8.6% since its second-quarter earnings report, outperforming the S&P 500, after the company beat estimates and raised its full-year guidance. In the quarter, Amgen reported adjusted earnings of $6.29 per share, up 4% year over year and above the Zacks Consensus Estimate of $5.60, while total revenues increased 10% to $10.1 billion, surpassing the consensus of $9.44 billion. The company raised its 2026 revenue guidance to $38.2-$39.4 billion from $37.1-$38.5 billion and adjusted earnings guidance to $22.30-$23.50 per share from $21.70-$23.10. Growth was driven by key products like Repatha, Evenity, Tezspire, and Uplizna, which helped offset biosimilar erosion for Prolia and Xgeva. Amgen also announced it will discontinue development of AMG 513, though its phase I obesity study will continue. Following the report, analysts have broadly revised estimates downward, and the stock carries a Zacks Rank #3 (Hold).
Amgen IncQ2 beat and raised guidance
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