Amgen (NASDAQ:AMGN) Shares Gap Down - Should You Sell?

Key Points

• Premarket gap down: Amgen shares opened around $332.52 (from a $346.25 close) despite beating Q1 estimates with EPS $5.15 and raising FY2026 guidance to $21.70–$23.10.
• Regulatory risk: The FDA has proposed withdrawing Tavneos approval over alleged clinical‑trial data manipulation, a development that raises legal and reputational risks and likely pressured the stock.
• Mixed analyst view and income profile: Wall‑street sentiment is split (consensus "Hold" with an average target of $357 while some firms like Goldman are more bullish at $425), and Amgen pays a $2.52 quarterly dividend (about a 3.1% yield), which may appeal to income investors amid caution.

Shares of Amgen Inc. (NASDAQ:AMGN - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $346.25, but opened at $332.52. Amgen shares last traded at $333.18, with a volume of 482,233 shares.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q1 beats and raised full-year outlook — Amgen reported Q1 EPS of $5.15 (vs. $4.73 est.) and revenue of $8.62B, and issued FY2026 EPS guidance of $21.70–$23.10, which supports longer‑term earnings visibility. Amgen's Q1 Earnings Top Estimates
• Positive Sentiment: Broad product momentum — Management highlighted 16 drugs with double‑digit growth and +4% product sales, showing portfolio resilience versus biosimilar erosion and legacy pressures. Zacks: 16 Drugs Deliver Double-Digit Gains
• Positive Sentiment: Analyst bullishness and higher price target — Goldman Sachs raised its AMGN price target to $425 and maintained a Buy; other analysts reiterated Buys, underpinning upside expectations. Goldman Sachs Raises Price Target to $425
• Neutral Sentiment: Pipeline focus — Management emphasized an expanded MariTide (obesity) development program as a multi‑year growth driver; concrete near-term revenue impact is uncertain and will depend on clinical progress and regulatory timelines. Reuters: Sales Rise 4%; MariTide Program
• Neutral Sentiment: Earnings materials and calls available — Full Q1 transcript, slides and call recording provide more detail for investors to model product-level growth and guidance assumptions. Earnings Call Transcript
• Negative Sentiment: FDA proposal to withdraw Tavneos — The FDA has proposed withdrawing Tavneos approval citing alleged clinical‑trial data manipulation and untrue statements, raising regulatory, legal and reputational risks that could pressure the stock. FDA Tavneos Proposal
• Negative Sentiment: Investor caution on execution and strategy — Some coverage noted the report was “generally in‑line” (not a clear blowout) and that the company’s aggressive push into obesity and other areas adds near‑term execution risk; that tone contributed to selling pressure. Amgen Aggressively Expanding in Obesity
• Negative Sentiment: Market impact headline — Broad-market stories noted Amgen was a drag on the Dow amid mixed macro/earnings headlines, which can amplify intraday declines in large-cap pharma names. Nasdaq Leads as Amgen Drags Dow

Analyst Ratings Changes

AMGN has been the topic of several recent analyst reports. Morgan Stanley set a $332.00 price objective on shares of Amgen in a report on Friday. Daiwa Securities Group upped their price objective on shares of Amgen from $370.00 to $410.00 and gave the stock an "outperform" rating in a report on Tuesday, February 10th. Barclays assumed coverage on shares of Amgen in a report on Friday, February 20th. They issued an "equal weight" rating and a $350.00 price objective on the stock. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Finally, Rothschild & Co Redburn increased their target price on shares of Amgen from $180.00 to $200.00 and gave the stock a "sell" rating in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $357.23.

Amgen Stock Performance

The company has a market capitalization of $176.49 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 3.34 and a beta of 0.47. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 5.78. The stock's fifty day simple moving average is $358.07 and its 200-day simple moving average is $340.45.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.73 by $0.42. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. Amgen had a net margin of 20.98% and a return on equity of 148.37%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Analysts predict that Amgen Inc. will post 22.16 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 15th will be given a $2.52 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. Amgen's dividend payout ratio is currently 70.84%.

Institutional Investors Weigh In On Amgen

A number of large investors have recently modified their holdings of AMGN. Brighton Jones LLC increased its position in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of Amgen by 10.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock valued at $331,000 after purchasing an additional 114 shares during the last quarter. Schnieders Capital Management LLC. increased its position in shares of Amgen by 29.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock valued at $7,220,000 after purchasing an additional 5,853 shares during the last quarter. Main Street Financial Solutions LLC increased its position in shares of Amgen by 11.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock valued at $1,141,000 after purchasing an additional 416 shares during the last quarter. Finally, Ieq Capital LLC increased its position in shares of Amgen by 5.1% in the 2nd quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock valued at $15,120,000 after purchasing an additional 2,611 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Company Profile

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.