Amgen stock gains 1.95 percent as estimates face pressure

Published on 09/22/2026 at 14:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Amgen stock closed at USD 393.16 on September 21, 2026, after a 1.95 percent gain. Second-quarter revenue rose 9.5 percent to USD 10.05 billion.

Fotorealistische moderne Biotech-Produktionsanlage mit Glasfassade, Bioreaktoren und Palmen unter blauem Himmel — Amgen Inc. (ISIN US0311621009) zeigt fotorealistisch eine moderne Biotech-Anlage mit Bioreaktoren in Kalifornien, Illustration mit AI erstellt.

Amgen Inc. (ISIN US0311621009) closed at USD 393.16 on the Nasdaq on September 21, 2026, up 1.95 percent from the prior close of USD 385.65. The move came as broader Nasdaq trading strengthened, while fresh coverage kept attention on earnings estimates and the company's late-stage pipeline.

Estimates come under pressure

According to MarketBeat on September 22, 2026, Erste Group Bank brokers reduced their earnings estimates for Amgen. The same report put the company's market capitalization at USD 212.55 billion and its price-to-earnings ratio at 24.44.

The estimate change matters because the valuation leaves less room for weaker execution. A price-to-earnings ratio of 24.44 places the shares above a simple value profile, making future earnings delivery and pipeline milestones central to the stock narrative.

Second-quarter revenue rose 9.5 percent

According to TheStreet on September 22, 2026, Amgen generated USD 10.05 billion in second-quarter revenue, up 9.5 percent year over year. Adjusted earnings per share reached USD 6.29 and exceeded expectations by about 12 percent, giving the company a quantified earnings comparison despite the later estimate pressure.

Repatha contributed USD 953 million in the second quarter and grew 37 percent from the prior year, according to TheStreet. That growth makes the cardiovascular franchise an important offset to concerns about the timing and performance of newer pipeline products.

Pipeline execution remains decisive

Yahoo Finance reported on September 22, 2026, that Morgan Stanley continued to rate Amgen Equal-weight. The bank's view, maintained since October 2023, reflects a balance between the company's operating performance and uncertainty around future drug launches.

The key counter-factor is MariTide. According to TheStreet, weaker performance in 2027 or continued market-share losses to substitutes could make the current valuation harder to justify. The company also expects Phase 3 results for dazodalibep in the second half of 2026, creating a further dated pipeline checkpoint.

Nasdaq close sets the reference

Amgen shares closed at USD 393.16 on the Nasdaq on September 21, 2026, after rising USD 7.51 during the session from USD 385.65. The close provides the reference market value for this article; the reported second-quarter revenue growth and Repatha growth show why operating execution remains the more important test than the one-day price move.