"Guggenheim's price target cut is a modest model update following Q1 2026, not a thesis shift. Amgen delivered non-GAAP EPS of $5.15, beating the $4.77 consensus, with revenue of $8.62 billion, up 6% year over year."
"The firm kept its Neutral stance, signaling that Amgen's valuation already reflects most of the upside. Other firms responded differently to the same earnings report, suggesting genuine debate about whether MariTide can offset franchise erosion."
"Amgen's portfolio showed a bifurcation in Q1, with IMDELLTRA growing 219% and UPLIZNA 188%, while Prolia and Enbrel faced declines of 34% and 37% respectively due to biosimilar and Medicare Part D pressures."
Guggenheim reduced its price target for Amgen to $340 from $351 while maintaining a Neutral rating. This adjustment follows Amgen's Q1 2026 earnings release, where the company exceeded revenue and earnings expectations. Despite this, Amgen's stock has declined 7% over the past month. The downgrade reflects growing caution regarding Amgen's growth potential due to increasing biosimilar competition. Other firms have varied responses to the earnings report, indicating differing views on Amgen's future performance and the impact of its product pipeline.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]